Key Takeaways:
- World Liberty Financial launches a loyalty program for USD1 stablecoin users.
- Users can earn rewards for trading, staking, and holding USD1.
- The Trump-affiliated project aims to bring airline-style points to DeFi.
USD1 Stablecoin Users to Earn Loyalty Rewards
World Liberty Financial, a DeFi project sponsored by the Trump family, has disclosed a plan for adding loyalty points to the users of its stablecoin USD1. This scheme will recompense the users who carry out trades, keep, and stake USD1, thereby transferring an already known airline-miles concept into the digital finance space.
The initiative, which is scheduled to be introduced with chosen crypto exchange partners, will allow users to perform different actions, such as trading USD1 pairs, staking USD1 to generate yield, keeping wallet balances, and using the WLFI mobile app in order to earn points. The specific rules of the exchange and the process of point calculation will differ for each partner, and the conditions are expected to change as time goes on.
Gate.io was the first crypto exchange to confirm participation in the rollout, offering extra points for limit order trades involving USD1. Nevertheless, Gate Labs was clear that it has not made any financial7 investment in World Liberty Financial or its stablecoin.
Bringing Traditional Loyalty Programs to Stablecoins
Such stablecoins as USD1 serve as the lifeblood of the crypto ecosystem that in turn fuels payments, trading, and DeFi participation. On the other hand, direct benefits are missing to most users even for their usage. World Liberty Financial launches a rewards system that draws on some traditional loyalty programs in airlines and hospitality to solve the issue.
USD1, introduced in April, is fully invested in short-term US Treasury bills, money, and equivalents in the 1:1 ratio. BitGo Trust Company is the one thatz issues it. Hence, the fund is transparent, and the reserves are fully supporting it.
Despite the program’s appeal, concerns persist over the Trump family’s role in the project. Donald Trump and his sons hold ambassadorial roles in the firm, raising potential conflict-of-interest questions. Still, USD1 has gained momentum, particularly following its airdrop to 85,000 WLFI token holders and the recent vote to make WLFI tradable.
Summary:
World Liberty Financial is launching a loyalty program for USD1 stablecoin users, rewarding them for various actions. The Trump-backed project blends DeFi with traditional reward models, starting with select exchange partners.
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