Donald Trump-backed DeFi project leans on Chainlink amid criticism and unmet financial goals DeFi 8 hours ago

World Liberty Financial (WLFI), a DeFi project backed by US President-elect Donald Trump, has partnered with Chainlink to accelerate DeFi adoption.This new alliance, announced on Nov. 14, names Chainlink as WLFI’s primary provider for on-chain data and cross-chain connectivity. The Oracle blockchain network would support the DeFi project’s upcoming launch on the Ethereum mainnet.In the first phase of this integration, WLFI will adopt Chainlink’s Price Feeds on the Ethereum mainnet, which will enable the secure onboarding of digital assets like USDC, USDT, ETH, and WBTC for WLFI’s Aave v3 protocol instance. The WLFI Governance Platform is expected to approve this integration.Chainlink co-founder Sergey Nazarov noted that the network’s established security and reliability make it a strong choice for WLFI’s infrastructure needs. He also said that the collaboration between both platforms would allow the Trump-related project to attract users who value dependable technology within DeFi.The move to integrate Chainlink comes as WLFI faces challenges meeting its financial targets.Initially aiming to raise $300 million, the project later scaled down its target to $30 million due to the tepid demand from crypto investors. Despite this reduction, data from its website shows that the project has fallen short of its revised funding goals, raising less than $20 million from 1.3 billion tokens sold.World Liberty Financial envisions itself as a DeFi hub where users can lend, borrow, and invest in digital assets. The project stated that it aims to provide users with information and access to third-party DeFi applications that would support the adoption of US dollar-based stablecoins and ensure that the Dollar remains the world’s reserve currency.The WLFI token is central to the project’s mission. The asset would allow holders to vote on protocol decisions and participate actively in shaping the platform’s future.However, the project has drawn steep criticism from crypto community members. A report from asset management firm Galaxy Digital noted that WLFI currently functions as more of an idea than a fully developed protocol.Galaxy continued that there is lots of uncertainty surrounding the project’s trajectory as there is little information about the project details, its finalized development plan, and necessary code releases. It added:“The project’s key dependencies are not guaranteed, with the Aave licensing still in the air, and the market is not convinced of the protocol’s future even with crypto’s tendency to lean more Republican.”Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam Wright is the Editor-in-Chief at CryptoSlate and host of the SlateCast. He believes that decentralized technology has the potential to make widespread positive change. Must-read crypto news & insights. Delivered daily.With no technical resistance, VanEck sees Bitcoin in ‘blue sky territory’ targeting $180,000 within a year.Moglia said Bitcoin has transitioned from skepticism to finance staple and is poised for significant growth amid regulatory shifts under Trump.The state Attorney Generals collectively claim that the SEC went against their best efforts to foster crypto in the US.Former CFTC Chair Christopher Giancarlo stated he is not among the names considered to be the next SEC chief.Cross-border transactions see enhanced privacy with tokenized commercial paper through ADDX, ANZ, and Chainlink partnership.Swift’s pilot links 11,500 financial institutions to automate tokenized fund processes, reducing costs and enabling real-time transparency.Chainlink Oracle adoption empowers Tron’s $60 billion stablecoin sector with secure, decentralized data feeds.Lido’s Chainlink integration transforms staking, providing users with direct access to wstETH on Arbitrum, Base, and Optimism.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.