1 month ago
World Liberty Financial (WLFI), the DeFi task partially owned by the Donald Trump family, has opened a assemblage ballot to determine whether to proceed with an airdrop of its caller stablecoin, USD1.
As of property time, 99.98% of voters backed the proposal, representing astir 4 cardinal WLFI tokens. Only a tiny fraction, equating to 0.02% oregon astir 958,000 tokens, voted against it.
As stated connected the project’s authoritative forum, the governance process began connected May 6 and volition stay unfastened until May 13.
The airdrop serves 3 superior purposes. First, it aims to trial WLFI’s airdrop infrastructure successful a unrecorded environment. Second, it offers aboriginal supporters a archetypal enactment with USD1 earlier its nationalist launch.
Lastly, the determination volition thrust the archetypal visibility and consciousness for USD1 earlier its broader marketplace access.
So, if the assemblage ballot passes, WLFI volition determination guardant with the airdrop and contented a nationalist announcement erstwhile it begins.
However, the squad clarified that the last magnitude of USD1 to beryllium distributed hasn’t been acceptable and volition beryllium connected the fig of eligible wallets and disposable resources.
WLFI besides stated that it retains afloat discretion to modify, delay, oregon cancel the airdrop careless of the vote’s outcome.
USD1 enters apical 5 stablecoins
Despite its caller launch, USD1 has quickly gained momentum and present ranks among the apical 5 stablecoins by marketplace capitalization.
Data from CryptoSlate shows that USD1’s marketplace headdress has already surpassed $2 billion, putting it conscionable down large players similar USDT, USDC, DAI, and USDe.
Besides that, the stablecoin has seen increasing integration crossed large trading platforms, including HTX and DeFi protocols similar Lista DAO.
In addition, Abu Dhabi-based concern steadfast MGX volition usage the integer plus to settee its $2 billion investment successful Binance, the largest crypto trading level successful the world.
USD1 is afloat backed by U.S. dollar reserves, short-term Treasury securities, and different liquid assets, ensuring a 1:1 peg with the dollar.
The station World Liberty Financial’s USD1 stablecoin nearing airdrop arsenic assemblage ballot aligns appeared archetypal connected CryptoSlate.
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