The Context 160: 🔎 Trump and Justin Sun’s governance betrayals

Over 14 months ago the Trump-founded World Liberty Financial passed a governance vote that would involve it launching an Aave instance to support its borrowing and lending features.

This vote was important because it helped validate World Liberty Financial’s claim that governance “is the cornerstone of the WLFI platform.”

This instance has yet to be launched.

Is World Liberty Financial a dead project?

However, don’t worry yourself that World Liberty Financial has been sitting stagnant. After all, it’s been able to launch:

• the USD1 stablecoin, launched without a governance vote
• a bridge that enables you to move your USD1 or WLFI tokens to other chains, launched in collaboration with Chainlink and without a governance vote
• WLFI Markets, a borrowing and lending market, launched in collaboration with Dolomite without a governance vote
• a partnership with a WLFI digital asset treasury firm, again without a governance vote

Additionally, it’s had time to announce:

• a cryptocurrency wallet without a governance vote.
• foreign exchange features without a governance vote.
• that it is seeking a bank charter without a governance vote.

I’m starting to question whether or not this firm is truly committed to making governance “the cornerstone of the WLFI platform.”

They swapped out the borrow and lending platform from Aave to Dolomite without even bothering to ask their tokenholders if it is okay.

Would you believe me if I said that Corey Caplan, World Liberty Financial’s chief technical officer was also the founder and CEO of Dolomite?

I sure hope he had no conflict of interest when he decided to discard the input of governance tokenholders in favor of a platform he profits from!

This type of behavior isn’t uncommon in the crypto ecosystem; consider World Liberty Financial advisor Justin Sun.

Sun frequently advertises and discusses the “TRON DAO,” but I challenge you to show me an organization that’s decentralized, autonomous, and in charge of governing TRON.

Did the WBTC DAO approve Justin Sun’s HTX as a merchant?

Or consider Sun-advised Wrapped Bitcoin, which has made massive and sweeping changes to the structure of its so-called DAOs without disclosing those changes to the public.

We can also consider Sun-founded USDD, which has made countless changes without ever consulting its DAO.

It’s very easy to observe these lies in marketing from Sun and World Liberty Financial, which suggests that those who are still willing to work with them must enjoy being lied to, or they like knowing that customers and users are lied to.