Donald Trump’s DeFi protocol will hold an airdrop of its own USD1 stablecoins

What’s new? The team of Donald Trump’s DeFi protocol World Liberty Financial has offered to conduct a test airdrop of its own USD1 stablecoin among holders of the WLFI native token. The initiative will test the stability of the protocol’s airdrop system and reward early users.

Proposal on the project’s forum

What else is known? As part of the test, a small number of USD1 stablecoins will be distributed among WLFI holders, the launch of which was announced in March. The asset is pegged to the US dollar at a 1:1 ratio and is fully backed by short-term US Treasuries, dollar deposits, and other cash equivalents. The giveaway will also serve as a promotional campaign for the asset ahead of its debut in the broader crypto market.

Airdrop targets all current WLFI holders, with requirements for potential participants to be determined at a later date. The amount of USD1 for each recipient will be determined after calculating the total number of participating wallets and the budget.

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The protocol team solicited feedback from the community. At the time of publication, the majority of forum members who commented on the proposal expressed their approval. Further progress on the initiative depends on the outcome of the vote.

If approved, World Liberty Financial plans to conduct a distribution of stablecoins on the Ethereum mainnet and issue a report on the results of the distribution.

At the same time, the proposal emphasizes that World Liberty Financial reserves the right to terminate or suspend the test airdrop at any time, as well as set any additional requirements for participants.

In mid-March, World Liberty Financial announced the completion of the last round of the WLFI token sale, 25% of the total offer of $100 billion was sold. According to ICO Drops, the project, including private rounds, raised $590 million.

USD1 is preparing to launch at a time when lawmakers are focused on creating a clear regulatory framework for stablecoins. Last week, the House Financial Services Committee approved a bill known by the acronym STABLE. The Senate Banking Committee also voted in March to advance its version of a stablecoin bill known as GENIUS.

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World Liberty Financial’s official website designates Donald Trump as a “chief crypto advocate” and lists his sons Eric, Donald Jr., and Barron as participants in the project. However, the whitepaper states that Trump’s family members are not involved in the management or ownership of the project.