Trump-backed DeFi project taps Scroll co-founder as advisor

The World Liberty Financial (WLFI) project announced Sandy Peng, Scroll co-founder, as their new advisor on Sept. 15. WLFI is the decentralized application protocol backed by former US president Donald Trump’s family.

Peng has previous experience as a partner at Hong Kong-based Fission Capital and as a management associate at the Hong Kong Securities and Futures Commission (SFC).

A spree of advisor announcements

Notably, Peng is the latest name on the advisors’ list being announced by the WLFI team since Aug. 30. Corey Caplan, co-founder and creator of the multichain money market protocol, was the first name announced by the project.

Alexei Dulub, founder of security open-source browser extension Web3 Antivirus and Web3-focused services provider PixelPlex, was announced as the second advisor by the WLFI X profile on Sept. 5.

Ogle was the third name revealed by WLFI on Sept. 7. He’s the co-founder of blockchain ecosystem Glue and a security expert who was involved in efforts to recover funds from hacks such as Euler, Curve, and Kyberswap.

Rafael Yakobi, managing partner at the crypto-focused law firm The Crypto Lawyers, was named on Sept. 10 as WLFI’s fourth advisor. According to the post, Yakobi will provide expertise in regulatory matters.

The fifth name and the last one before Peng’s announcement was Luke Pearson, general partner at the venture capital fund Polychain since 2021. 

Close to launch, no details

The decentralized finance (DeFi) project WLFI gained attention after the involvement of Trump’s sons Eric Trump and Donald Trump Jr. was revealed. 

However, despite the anticipation of its launch on Sept. 16 with a livestream hosted by Donald Trump, information about the project remains scarse.

In a series of publications made on Sept. 4, the WLFI team addressed that they are working with crypto security firms such as Zokyo, Fuzzland, PeckShielf, and BlockSec to make sure the codes for their smart contracts are secure.

Furthermore, it was revealed that they are allegedly collaborating with money market Aave to build a “a platform that sets new standards and pushes all of DeFi forward.”

The WLFI team stated that their mission is to “make crypto and America great” through the adoption of stablecoins and DeFi. 

“Here’s why stablecoins matter: We want U.S.-pegged stablecoins to remain the world’s settlement layer for the next 100 years. The U.S. dollar has been the backbone of global finance for decades, but it’s now under attack by foreign nation-states.”

As a result, the WLFI team believes that spreading the adoption of US-dollar-pegged stablecoins will keep US dominance on the global stage.