The World Liberty Financial project has used CowSwap to purchase over $50 million in ETH, LINK, AAVE, and other altcoins – here’s what you need to know.
World Liberty Financial, the decentralized finance (DeFi) project backed by incoming US President Donald Trump, has been purchasing millions of dollars worth of crypto, including Chainlink (LINK), Ethereum (ETH), and, most recently, Ondo (ONDO).
On-chain data shows that World Liberty Financial is using CowSwap, a popular decentralized exchange, for its transactions. World Liberty has made over 150 purchases using CowSwap throughout its brief lifetime.
Now that Trumps project is using @CoWSwap $COW almost daily I think much higher is possible considering it’s such a low market cap
— Gold (@Gold_Cryptoz) December 15, 2024
What Is CowSwap And Why Is Its COW Token Up Over 30%?
CowSwap is the first trading interface built on top of CoW protocol. It is a DeFi application that allows users to trade Ethereum-based tokens.
It matches supply and demand to find a “coincidence of wants” (CoW) between users. This helps to prevent slippage and fees. It uses batch auctions to find the best price for all trades in a batch.
The CoW project is receiving considerable attention due to the sizeable purchases from the Trump-backed World Liberty Financial wallet. As a result, its native token, COW, has surged over 30% in the past 24 hours and more than 80% over the last 7 days.
COW’s market cap is around $250 million, which seems relatively small compared to its competitors. Sushi ($400 million) and dYdX ($1.4 billion) are two projects operating similarly to CoW while trading at significantly higher prices.
If notable projects such as World Liberty Financial continue to use the platform for multi-million dollar purchases, there is a good chance that COW will surpass SUSHI. From there, it will likely move to flip DYDX as it aims to become a billion-dollar DeFi project.
What Tokens Are World Liberty Financial Buying On CowSwap?
The World Liberty Financial wallet looks to be purchasing various tokens using profits from the WLFI token sale. Most purchases have been made via its large stablecoin holdings.
One of the main swaps from the WLFI wallet has been using stablecoins for ETH. Interestingly, this indicates that the team believes ETH is a better reserve asset than the US dollar.
World Liberty’s terms and conditions state that the limited liability company set up by the Trump family to manage the project will receive 75% of the proceeds from the sale of WLFI tokens and can manage the treasury as it sees fit.
The 0x5be9a49.. World Liberty wallet holds over $80 million worth of cryptocurrencies. This includes over $57 million worth of ETH, $10 million of Coinbase’s wrapped bitcoin token, cbUSD, and $9 million in stablecoins (spread between USDT and USDC.
The wallet’s largest altcoin holdings are AAVE and LINK. Currently, these holdings stand at 6,137 AAVE ($2.3 million) and 78,000 LINK ($2.3 million).
Donald Trump Company Crypto Buying Spree!?
Trump's World Liberty Financial just swapped $5 million $USDC for Ethereum taking their total $ETH holdings to $55M.
Chainlink & Aave tokens were also swapped, the wallet now hold $1M each of $LINK & $AAVE.
I wonder what coins will be… pic.twitter.com/EcyOgkJfwo
— Altcoin Daily (@AltcoinDailyio) December 12, 2024
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