World Liberty Financial (WLFI) Proposes USD1 Airdrop: Community Voting Begins

As it tests its distribution system, World Liberty Financial (WLFI), the cryptocurrency platform supported by the Trump family , has suggested rewarding early WLFI token holders with an airdrop of its USD1 stablecoin.

Over 99% of votes have already been cast in favor of the initiative, according to a proposal made on May 6 in the WLFI governance forum.

The USD1 stablecoin, which launched in early March, is fully backed 1:1 by short-term US government treasuries, dollar deposits, and cash equivalents.

The platform describes the planned airdrop as both a technical validation of its distribution system and a way to thank early supporters by introducing them to the USD1 ecosystem.

WLFI covers Airdrop Proposal Details and Voting Status

World Liberty Financial airdrop proposal is founded on a proposal to distribute a small amount of USD1 stablecoin to qualified WLFI token holders as part of a technical validation process.

The precise amount of USD1 to be distributed is yet to be decided. That amount will be determined by the number of qualified wallets and the initiative budget, according to the May 6 governance forum post.

The proposal explicitly mentions that the airdrop has two primary goals:

“Testing the airdrop mechanism in a live environment is necessary to verify smart contract functionality and preparedness. This distribution is also a good way to show our appreciation towards our earliest adopters and get them used to USD1.”

Now, the vote on the governance clearly supports the proposal. With the deadline set for May 14th voting, the supporters have already voted 2.6 billion tokens, which is 99.97% of the votes. The opponents are just 901,000 votes, which is 0.03% of the votes.

The proposal contains several significant caveats. Moreover, it stated that the airdrop date remains outstanding. And WLFI reserves the “right to discontinue, suspend, modify or terminate the test airdrop” at its discretion. This amount of latitude implies the platform is being conservative in its initial airdrop rollout.

Since its release in September, World Liberty Financial has held two public token sales. It also raised $550 million from 85,000 registered token holders. These early backers would likely be among the first to receive the suggested USD1 airdrop.

USD1 Stablecoin Builds out Ecosystem and Utility

The USD1 stablecoin, which was introduced in early March, has been growing its ecosystem and applications beyond the planned airdrop. Recent updates indicate that USD1 has been integrated into the Lista DAO ecosystem, with an active USD1/ListaDAO pool.

The integration enables stable yield generation and contributes to the true decentralized finance (DeFi) utility of the stablecoin.

USD1 had a $2.2 Billion market capitalization while writing, and a total supply of 20 million tokens. The stablecoin features a fully-backed model, where each token is supported 1:1 by a combination of short-term US government treasuries, dollar deposits, and cash equivalents. The model of backing is designed to provide stability and trust in the token value.

The stablecoin has opened up lending markets for some of the biggest cryptocurrencies, including BTCB, WBNB, slisBNB, and ETH. The lending rate is competitive at 0.39% today, which makes USD1 an attractive option in the DeFi lending market.

World Liberty Financial’s USD1 development is the cornerstone of the platform’s development roadmap since its inception in September. The convergence of Trump family endorsement, massive fundraising success, and utility development of USD1 enlightens us that the platform is dedicated to developing a stablecoin ecosystem.

The team explicitly stated that “the momentum behind USD1 is real — and we’re just getting started.”