I like Ethereum DeFi, and Aave has always stood out as a reliable project with a strong community. So, when I heard about Donald Trump’s new crypto venture being built on these platforms, I was intrigued. But as I dug deeper, I couldn't help but feel a growing sense of unease.

On the surface, World Liberty Financial—Trump's latest crypto initiative—promises to "put the power of finance back in the hands of the people" and challenge the so-called "rigged" traditional finance system. But here’s the catch: according to a white paper obtained by Coindesk, a staggering 70% of the project’s governance token, WLFI, will be held by insiders, including Trump’s family and project founders.

This is an unusually high percentage compared to other crypto projects. For instance, Ethereum’s founders reserved only about 16.6% of ETH for themselves, while Cardano’s early team retained 20% of ADA. With World Liberty Financial, the vast majority of the power is concentrated in the hands of a few, raising serious questions about the project’s true objectives .

Adding to the skepticism, some of these insiders have questionable backgrounds, including ties to the recently hacked Dough Finance platform. The involvement of Trump’s sons and their roles as "Web 3 Ambassadors" only deepens my concerns. Is this project really about innovating in the DeFi space, or is it just another way for Trump’s inner circle to cash in on their fame?

Moreover, the WLFI token comes with restrictive conditions. It’s non-transferable and locked indefinitely, which could protect the project from legal scrutiny but also limits transparency and flexibility for investors. The fact that public pre-sales are increasingly rare in the crypto world, due to past regulatory issues and fraud, only adds to the unease .

In the end, while Trump’s name might draw attention and even initial excitement, the details of this project suggest that it might not be the revolution it’s being sold as. Instead, it could be a well-disguised insider game, where the average investor gets the short end of the stick.

So, is Trump’s crypto project the next big thing or just another insider cash grab? I’d love to hear your thoughts.