Although WLFI has been incentivizing the issuance of USD1 by throwing money around, its 7-day protocol revenue has already climbed to 8th place, reaching an annual revenue of $1.12 billion. Despite being categorized as 'Lending' on DefiLlama, WLFI's revenue is actually Off-Chain, meaning it’s not earned through on-chain activities like lending, but rather from the stable foundation of treasury bonds. Currently, the issuance of USD1 has reached $4.6 billion, which aligns closely with the 3.5% short-term treasury bond yield and the revenue figures calculated by DefiLlama. Now that USD1 has almost fully tapped into the demand for holding stablecoins for yield, the next step to break through the ceiling depends on whether the funds can actually be put to use, rather than just sitting idle collecting interest. The latest round of Binance USD1 airdrop yield rules has also been adjusted accordingly. Previously, simply holding USD1 was enough to receive airdrops, and placing it in a contract account would earn a bonus. But now, you can’t just hold it passively anymore. To get a 1.2x points bonus, you need to maintain an open contract position of at least 300 USD1 daily. It’s time to actually put USD1 to work.