- USD1 AIRDROP receives 99.97% support, while World Liberty Financial tests the StableCoin distribution on Ethereum.
- The legal pressure on Wlfi increases in view of the connections to Trump and the examination of foreign investments.
World Liberty Financial (WLFI), a defi project that is connected to the Trump family, has initiated a governance vote to approve the test airdrop of its stable coin USD1. The step takes place in the middle of an increasing dynamic for USD1, which is now integrated in Lista Dao, and follows a strong increase in market capitalization.
While the Airdrop proposal was almost unanimously supported, the project is also faced with an increased examination by US legislators due to possible conflicts of interest. The vote, which is to be completed on May 14th, represents a decisive step in Wlfis StableCoin sales strategy.
Wlfi starts coordination via 1 Airdrop and extends DAO integration
As CNF reported, the WLFI team proposed a live-onchain test airdrop of its USD1 tablecoin to the current Wlfi token holder. According to the explanation of the project, the test aims to validate the technical infrastructure and at the same time thank the early supporters. The vote, which opened on May 7, has received overwhelming approval: 99.97 % of the votes spoke out for the step, 2.6 billion were for this and 901,400 against it.
The Snapshot vote follows the proposal of the WLFI from April and precedes a broader introduction of the 1 USD, which officially begins in March 2025. USD1 is supported by US dollar deposits, short-term government bonds and cash-like assets and quickly gained importance on the StableCoin market. Wlfi has not confirmed the distribution amount or the final time of the airdrop and, in his Governance post, pointed out that the company reserves the right to change or cancel the test.
After the vote, Wlfi USD1 with Lista Dao integrated into BNB Chain. The new liquidity pool enables users to achieve returns by lending or borrowing USD1 returns. The WLFI team described the integration as a step towards a wider defi acceptance and said that stable returns for investors who are looking for a risky crypto engagement have become an important focus.
Legal concerns about the closeness to Trump and foreign investments
Despite the increasing dynamics of the project, Wlfi is examined by US legislators. Critics have expressed concerns about national security risks and possible violations of the emule clause. The Democratic Senator Richard Blumenthal recently asked Wlfi co-founder Zach Witkoff information about the connections of the project to the Trump family and to foreign investors.
On the Wlfi website, Donald Trump is mentioned as the “top crypto supporter”, while Eric, Donald Jr. and Barron Trump are listed as members. However, the project paper of the project denies that members of the Trump family have ownership or leadership roles at Wlfi.
The examinations were tightened after the MGX company based in Abu Dhabi had announced to use USD1 for a 2-billion dollar business with Binance. On the same day, the Democrats of the House of Representatives boycotted a hearing for cryptor regulation and referred to unresolved conflicts related to Wlfi. Since its start in September, the project has carried out two token sales, taking $ 550 million.
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