Trump-backed WLFI's USD1 Stablecoin Gains 99.98% Community Support

World Liberty Financial (WLFI), a DeFi project with partial ownership by the Donald Trump family, has initiated a community vote to determine the fate of its new stablecoin, USD1. The vote, which began on May 6 and will conclude on May 13, has seen overwhelming support, with 99.98% of voters backing the proposal. This support represents approximately 4 billion WLFI tokens, while only a small fraction, equating to 0.02% or about 958,000 tokens, voted against it.

The airdrop of USD1, if approved, will serve multiple purposes. Firstly, it will test WLFI’s airdrop infrastructure in a live environment. Secondly, it will provide early supporters with their first interaction with USD1 before its public launch. Lastly, the airdrop aims to drive initial visibility and awareness for USD1 before its broader market access. If the community vote passes, WLFI will proceed with the airdrop and issue a public notice once it begins. However, the final amount of USD1 to be distributed has not been set and will depend on the number of eligible wallets and available resources. WLFI retains full discretion to modify, delay, or cancel the airdrop regardless of the vote’s outcome.

Despite its recent launch, USD1 has quickly gained traction and now ranks among the top five stablecoins by market capitalization. It has seen growing integration across major trading platforms, including HTX and DeFi protocols like Lista DAO. Additionally, Abu Dhabi-based investment firm MGX will use the digital asset to settle its $2 billion investment in Binance, the largest crypto trading platform in the world. USD1 is fully backed by U.S. dollar reserves, short-term Treasury securities, and other liquid assets, ensuring a 1:1 peg with the dollar.