Author: Weilin, PANews

"The presence of someone in the government makes it easier to get things done," this saying is particularly applicable to the Trump family's crypto project.

Recently, World Liberty Financial Inc. (WLFI) announced plans to launch the stablecoin USD1, which can be exchanged 1:1 for US dollars. Market observations indicate that the soft launch of USD1's mainnet actually occurred around April 12, when the first USD1 liquidity pools were deployed on Uniswap V3 and PancakeSwap V3. According to incomplete statistics, USD1 has rapidly expanded and integrated with over 10 protocols or applications.

As World Liberty Financial is the DeFi project of U.S. President Trump’s family, the launch of the USD1 stablecoin has attracted widespread market attention, especially regarding its subsequent deployment on Ethereum, BNB Chain, and Tron. While Ethereum's support is based on strength in collaboration, BNB Chain and Tron may be more driven by commercial interests. For instance, Binance secured $2 billion in financing from MGX through USD1 payments, instantly adding $2 billion to the market cap of this stablecoin. Additionally, Sun Yuchen is the largest individual investor in WLFI, with an investment amount reaching $75 million.

Expanding from Ethereum and BNB Chain to Tron, Integrating with Various DeFi Protocols

According to official information, WLFI's USD1 is 100% backed by U.S. short-term treasury bonds, dollar deposits, and other cash equivalents, ensuring that each token is pegged to a value of 1 dollar. The reserve asset portfolio is regularly audited by a third-party accounting firm and is held by the independent qualified custodian BitGo. Additionally, BitGo's wholesale brokerage service, BitGo Prime, will also support USD1, providing institutional clients with ample liquidity and trading opportunities.

Initially, USD1 tokens were minted on the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains. On May 14, BNB Chain officially supported USD1, noting that Four.Meme, GMGN, SafePal, and others have already integrated USD1.

On May 1, WLFI co-founder Zack Witkoff announced that USD1 would also be natively issued on the Tron chain, further expanding its cross-chain capabilities. Tron’s founder, Sun Yuchen, is also an advisor to WLFI, with a total investment of $75 million in the project.

As of May 15, according to CMC data, the total circulation of USD1 has reached 2.13 billion tokens, with a market cap of approximately $2.13 billion, ranking it 5th, behind USDT, USDC, DAI, and USDe.

The official announcement of USD1 quickly triggered liquidity deployment in the market. On April 12, on-chain monitoring platform Lookonchain disclosed that market maker DWF Labs had deployed 6 DeFi liquidity pools for USD1, with a total value of $18 million. These pools include the following pairs:

Ethereum: 1.5 million USDT with 1.5 million USD1, 2.5 million USDC with 2.5 million USD1, 490,000 USDf with 500,000 USD1, 318.5 ETH with 500,000 USD1. BSC Chain: 3 million USDT with 3 million USD1, 1,730 BNB with 1 million USD1.

On April 9, DWF Labs also subscribed to 250 million WLFI at a price of $0.1, totaling $25 million.

The launch of USD1 is not limited to liquidity pool deployment but also actively expands the DeFi ecosystem. Multiple protocols and DAOs have announced integration with USD1:

• Venus Protocol: On May 15, the decentralized lending platform Venus based on BNB Chain announced the official launch of USD1.
• Meson Finance: On May 15, the cross-chain DEX Meson Finance announced support for USD1.
• StakeStone: On May 9, the all-chain liquidity infrastructure StakeStone announced the official integration of WLFI.
• Aster: On May 9, the decentralized perpetual contract exchange Aster included USD1 as a collateral option. This project is deployed on Ethereum and BNB Chain.
• Lista DAO: On May 7, USD1 entered the Lista DAO ecosystem, with the USD1/ListaDAO pool going live, bringing stable yield release and DeFi utility. Lista DAO is a liquidity staking derivatives (LSD) project operating within the BNB Chain ecosystem.
• Pyth Network: On May 3, USD1 was integrated into the oracle solution Pyth Network.
• Falcon Finance: On April 11, Falcon Finance launched USD1 as collateral, further expanding its application scenarios. This project is a synthetic dollar protocol supported by DWF Labs.

Listing on HTX and MEXC for Completing MGX's Investment in Binance

The application of USD1 is not limited to decentralized ecosystems but has also quickly entered centralized exchanges. On May 7, the USD1/USDT trading pair was launched on HTX exchange, supporting deposits and trading, marking USD1's first listing on a major centralized exchange. On the same day, the USD1/USDT trading pair was also launched on MEXC exchange, with zero withdrawal and trading fees.

Additionally, it is worth mentioning that on May 1, Eric Trump, son of U.S. President Trump and head of WLFI, stated that the USD1 stablecoin issued by WLFI has been officially selected as the stablecoin for Abu Dhabi investment institution MGX to complete its $2 billion investment in Binance. Eric Trump expressed at the Token2049 event held in Dubai: "We thank MGX and Binance for their trust in us, and I believe this is just the beginning." Earlier this year, the Abu Dhabi-based investment company MGX invested $2 billion to acquire shares in Binance.

On May 16, Binance founder Zhao Changpeng also publicly stated for the first time that MGX's $2 billion investment in Binance was completed using the USD1 stablecoin, but it is unrelated to the TRUMP token (Meme coin).

In terms of consumer scenarios, USD1 has already been integrated into several crypto payment and business projects:

• TokenPocket: On May 15, the decentralized multi-chain wallet TokenPocket announced support for USD1.
• HOT Wallet (HOT Protocol): On May 9, the TG ecosystem's HOT Wallet announced support for USD1.
• Umy: On May 9, the Web3 travel and consumption platform Umy announced that users can use USD1 to book over a million hotels and luxury travel services worldwide on the platform.
• Pundi X: On May 8, the Pundi X payment ecosystem fully integrated USD1, including XPOS and Pundi X Pay.

According to official information, USD1 primarily targets institutional clients, positioning itself as a secure and efficient cross-border payment and trading tool, while also supporting extensive applications in the DeFi ecosystem. WLFI co-founder Zach Witkoff has emphasized, "USD1 is a digital dollar stablecoin tailored for sovereign investors and large institutions, capable of seamlessly and securely supporting cross-border transactions."

Zach Witkoff also revealed that more collaborations related to the USD1 stablecoin are in the pipeline. He stated, "World Liberty is preparing a large number of plans… We are fully advancing the integration work with traditional retail POS systems." Currently, the process of advancing USD1 collaborations is progressing very rapidly.

On May 7, WLFI initiated a new governance proposal: to test the airdrop function by distributing $1 to all $WLFI holders—rewarding the earliest supporters and preparing for future development. The proposal ended on May 14, with a total of 11,780 votes cast, and 99.96% of the voting weight in support, leading to the successful passage of the proposal.

In summary, since its launch, USD1 has been demonstrating its future potential as a DeFi project of the presidential family through multi-chain expansion and multi-protocol integration. Will the stablecoin endorsed by the U.S. President be able to secure a place in the stablecoin market and challenge the positions of USDC and USDT? Future market dynamics are worth further observation.

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