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World Liberty Financial offers a USD1 Airdrop to holders of WLFI Tokens
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The company’s new distribution system will be tested with the airdrop.
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The company determines the final eligibility for and timing.
World Liberty Financial (WLF), a crypto firm backed and endorsed by U.S. president Donald Trump, has revealed plans to test distribute its USD1 stablecoin among holders of the native WLFI token. Details are available on the company website.
Why Plan an Airdrop Test?
The airdrop is intended to validate the company’s Blockchain infrastructure in a real world environment. This test is required, according to the advisory to ensure that smart contract perform correctly before the wider rollout of USD1 stablecoin.
The proposal is primarily technical but also serves as an appreciation gesture to early supporters of WLFI token. World Liberty Financial wants to thank the community for its support of the project since its inception by delivering a token of value.
Related: World Liberty Financial: $550M Raised by SEI Purchase and an Unusual Token Exchange Offer
Airdrop Eligibility and Execution
Airdrops will be available to all wallets that hold WLFI, although eligibility criteria may be introduced. The exact amount per wallet is not finalized, and will depend on how many eligible recipients there are and the available budget.
The company stressed that the distribution would take place directly on-chain using the Ethereum network. World Liberty Financial reserves the right to modify or suspend the distribution at any time, even if it is approved. The company will make all final decisions on timing, eligibility and execution.
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The proposal will be subject to a community discussion, and then voted on by the governance. If the proposal is approved, it will be implemented and announced publicly. The company hopes that the move will increase awareness of USD1 and enhance engagement with the WLFI Community.
What is the USD1 Stablecoin being tested?
World Liberty Financial launched its USD1 stablecoin last month. The coin is pegged at the U.S. Dollar and backed by short term U.S. Treasury bills, dollar deposits and cash equivalents. The stablecoin is available on both Ethereum Smart Chain and Binance.
Zach Witkoff, co-founder of USD1, said USD1 brings traditional finance to decentralized system and offers secure cross-border payment for institutions. The launch coincides with a stablecoin market that has grown by over 46% over the past year.
What is the background of WLF and its funding?
WLF, a company known for being backed by Donald Trump, raised over $550 million in two token sales starting last October. The firm’s structure allows for entities associated with the Trump Family to receive up to 75% its net revenue.
If approved, WLF expects that the proposed airdrop will increase awareness of USD1 and engagement within its WLFI community.
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