World Liberty Financial’s USD1 Stablecoin Set for Airdrop as Community Vote Approaches Consensus
World Liberty Financial (WLFI), a decentralized finance (DeFi) initiative partially affiliated with the family of Donald Trump, has initiated a community ballot to determine if it should move ahead with the distribution of its new stablecoin, USD1.
At the time of reporting, an overwhelming 99.98% of participants supported the initiative, totaling approximately 4 billion WLFI tokens. A minimal percentage, around 0.02%, which corresponds to about 958,000 tokens, opposed the proposal.
The governance proceedings commenced on May 6 and will continue until May 13, as announced on the project’s official forum.
The forthcoming airdrop intends to achieve three key objectives. Primarily, it seeks to evaluate the airdrop framework of WLFI in real-time conditions. Secondly, it provides early enthusiasts with a chance to engage with USD1 prior to its official roll-out.
Finally, this effort aims to enhance the initial recognition and exposure of USD1 ahead of its wider market entry.
If the community votes in favor, WLFI is set to proceed with the airdrop and will release a public announcement once the distribution begins.
Nonetheless, the team has indicated that the total USD1 amount to be distributed has not yet been finalized and will hinge on the count of qualifying wallets and available assets.
WLFI has also affirmed that it retains the authority to alter, postpone, or abandon the airdrop, regardless of the outcome of the vote.
USD1 ascends among stablecoins
Despite its recent debut, USD1 has quickly made strides and is now listed among the leading five stablecoins by market cap.
Recent figures reveal that USD1’s market capitalization has already exceeded $2 billion, positioning it just behind established names such as USDT, USDC, DAI, and USDe.
Additionally, the stablecoin is witnessing increased integration with major trading exchanges and decentralized finance protocols, including HTX and Lista DAO.
Furthermore, the Abu Dhabi-based investment organization MGX plans to utilize this digital currency to facilitate its $2 billion investment in Binance, the world’s largest cryptocurrency exchange.
USD1 maintains a full backing of U.S. dollar reserves, short-term Treasury securities, and other liquid assets, thereby ensuring a stable 1:1 peg to the dollar.
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