World Liberty Fi, a project linked to Donald Trump’s election campaign, recently airdropped 47 USD1 to several addresses, likely belonging to early WLFI token holders. This move highlights the growing convergence of crypto, politics, and stablecoin adoption. While the airdrop incentivizes supporters, it raises important questions about the USD1 stablecoin and its role in the World Liberty Fi ecosystem.
World Liberty Fi Airdrop Rewards Early Supporters
World Liberty Fi’s airdrop has sparked widespread interest. On-chain data shows the project distributed 47 USD1 to many Ethereum addresses associated with early WLFI token buyers. Some recipients immediately moved their USD1 tokens an hour after receiving them, raising concerns about possible coordinated activity.
Some USD1 tokens were returned to an accumulation address holding over $5,800 in USD1. This suggests the use of Sybil wallets, where multiple accounts are controlled by one entity, or a strategy to manipulate transaction data and create the appearance of higher usage.
The distribution was even across addresses. All participants received the same amount, regardless of their initial investment. Many recipients chose to keep their USD1 tokens, likely adding them to holdings accumulated through meme coin trading or decentralized exchange (DEX) activity.
The USD1 Airdrop: Rewarding the WLFI Community
This airdrop follows rumors from late May when a transaction from World Liberty Fi’s wallet hinted at an upcoming distribution. USD1, a stablecoin pegged to the U.S. dollar, was speculated to be a reward for WLFI buyers. The goal was to help smaller investors offset their costs. While most WLFI purchases were symbolic, supporting Trump’s election campaign, large-scale investors also joined in.
The rewards were equal for all, regardless of the size of the initial purchase. This brought the total number of USD1 holders on Ethereum to 85,522 wallets, closely matching the 85,868 WLFI holders. However, WLFI holders are still waiting for a token valuation, leaving uncertainty about the project’s future.
USD1’s Movement Across Chains
While the airdrop took place on Ethereum, USD1 sees more activity on the BNB Smart Chain (BSC), where 98.4% of its supply exists. Ethereum holds around $34 million in USD1, while BSC has $2.13 billion in USD1 tokens.
USD1’s liquidity is much higher on BSC, where the USDT/USD1 pair has over $16 million in available liquidity. Ethereum-based pairs are smaller, often paired with other stablecoins or meme tokens. PancakeSwap remains the main venue for USD1 trading, with daily volumes exceeding $235 million across decentralized and smaller centralized markets.
World Liberty Fi’s Strategic Move: $550 Million Fundraising
World Liberty Fi has reportedly raised a total of $550 million in sales, although it currently holds around $152 million in various assets, including coins and tokens. The launch of USD1 is part of a broader strategy to connect traditional finance with the crypto world, allowing supporters to interact with a U.S. dollar-backed stablecoin. This development positions the project to wield considerable influence in the crypto market, potentially setting the stage for corporate-backed stablecoins.
Furthermore, World Liberty Fi’s ties to Trump’s initiatives, such as Truth Social, are exploring a Bitcoin ETF, indicating a multi-chain approach that aims to diversify its presence across the blockchain landscape. This strategy marks the beginning of a new era for stablecoins and corporate-backed crypto projects.
