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World Liberty Financial approves proposal to airdrop a fixed amount of USD1 to WLFI holders
By: bitcoin ethereum news|2025/05/15 21:15:05
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Trump-backed World Liberty Financial has passed a proposal to test its on-chain airdrop feature by sending a ‘small amount’ of USD1 to all eligible WLFI token holders. The proposal passed with a 99.96% approval rate. On May 14, an advisory proposal recommending World Liberty Financial to test its airdrop function by sending WLFI holders a small amount of the project’s USD-pegged stablecoin has officially been passed. Garnering a total of 12,000 votes, the proposal gained a 99.96% approval rate from the governance vote. Although the proposal does not contain an estimated date for when the airdrop would take place, it does reveal key details about the anticipated airdrop. According to the official website, all current holders of the WLFI token will receive a fixed amount of USD1. However, the exact amount remains undetermined and will be calculated based on the number of eligible wallets in the ecosystem and the budget available for the airdrop allocation. WLFI token holders will also be subjected to eligibility requirements which the project will determine once the decision is made final. The project also warned that even though the airdrop proposal has been approved, World Liberty Financial, Inc. can still choose to suspend, modify or terminate the test airdrop at any time, as well as establish additional requirements for holders. The purpose of conducting a live airdrop test is to ensure the project’s smart contract functionality, system reliability, and readiness for such an event. The airdrop is also a way for the project to reward its holders with USD1, especially early adopters who have supported the project from the start. Through an airdrop event, the project hopes to promote its homegrown USD-pegged stablecoin and boost circulation for USD1 ahead of a broader rollout. What is USD1? USD1 is World Liberty Financial Inc.’s stablecoin. It is backed by U.S. Treasuries, cash, and other dollar-based equivalents, while BitGo serves as its official custodian. Shortly after its initial launch in April 2025, the stablecoin’s trading volume skyrocketed by more than 6,700%, reaching as high as $140 million. At press time, USD1’s market cap stands at more than $2.1 billion. The stablecoin has a circulating supply of 2.1 billion tokens. On May 1 at Token2049, World Liberty Financial co-founder Zach Witkoff declared that USD1 has been selected as the official stablecoin for MGX’s $2 billion investment into Binance. The deal marked the largest investment ever paid in stablecoins. On the same day, Witkoff announced that USD1 will be integrated into the Tron (TRX) blockchain. The stablecoin was initially launched on Ethereum (ETH) and Binance Smart Chain (BNB). Source: https://crypto.news/world-liberty-financial-approves-proposal-to-airdrop-a-fixed-amount-of-usd1-to-wlfi-holders/
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