It’s been a big week of DeFi news for the Donald Trump-backed crypto venture, World Liberty Financial (WLFI). Earlier this week, the project expanded its portfolio with $5 million worth of investment in three major assets: Ethereum (ETH), Chainlink (LINK), and Aave (AAVE).

The acquisitions include 2,631 ETH at $3,801 each, 41,335 LINK at $24.2, and 3,357 AAVE at $297.8, according to on-chain analytics platform Lookonchain.

The purchases mark WLFI’s first foray into LINK and AAVE, diversifying its growing treasury. In fact, since the investment, LINK has soared to a 3-year high amid growing open interest in futures contracts.

What’s more, the project’s community has now approved a proposal to launch an instance of the Aave v3. It will initially support borrowing and lending for Ethereum (ETH) and Wrapped Bitcoin (WBTC), and stablecoins Tether (USDT) and USDC.

The arrangement will see AaveDAO receive 7% of the circulating supply of WLFI tokens. The DAO will also receive 20% of all fees generated by the new instance, the proposal said.

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Author: Vismaya V