The cooperation map of the stablecoin USD1 of the Trump family project is emerging: deployed to 3 public chains, and more than 10 protocols have been integrated

Author: Weilin, PANews

"There are people in the court who are easy to do things", this sentence is particularly applicable to the Trump family's crypto projects.

Recently, World Liberty Financial Inc. (WLFI) announced plans to launch the stablecoin USD1, which can be exchanged for USD 1:1. According to market observation, the soft launch of USD1's main network 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 more than 10 protocols or applications.

Since World Liberty Financial is a family DeFi project of US President Trump, the launch of the USD1 stablecoin has attracted widespread market attention, especially its subsequent deployment on Ethereum, BNB Chain, and Tron. In addition to Ethereum's cooperation through strength, BNB Chain and Tron may be more driven by commercial interests. For example, Binance received US$2 billion in financing from MGX and also paid through USD1, which increased the stablecoin by US$2 billion in market value. Justin Sun is the largest individual investor of WLFI, with an investment amount of US$75 million.

Extended from Ethereum and BNB Chain to Tron, integrating with multiple

DeFi protocols

According to official reports, WLFI's USD1 is 100% guaranteed by US short-term Treasury bonds, US dollar deposits and other cash equivalents, ensuring that each token is anchored to a value of $1. The reserve asset portfolio is regularly audited by a third-party accounting firm and custodian by BitGo, an independent qualified custodian. In addition, BitGo Prime, a bulk brokerage service under BitGo, will also support USD1, allowing institutional clients to obtain sufficient liquidity and trading opportunities.

Initially, USD1 tokens were minted on Ethereum (ETH) and Binance Smart Chain (BSC) blockchains. On May 14, BNB Chain officially supported USD1 and pointed out that Four.Meme, GMGN, SafePal, etc. have all supported USD1.

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

As of May 15, according to CMC data, the total circulation of USD1 has reached 2.13 billion, with a market value of approximately US$2.13 billion, ranking fifth, with the top 4 being USDT, USDC, DAI, and USDe.

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

Ethereum: 1.5 million USDT and 1.5 million USD1, 2.5 million USDC and 2.5 million USD1, 490,000 USDf and 500,000 USD1, 318.5 ETH and 500,000 USD1. BSC chain: 3 million USDT and 3 million USD1, 1730 BNB and 1 million USD1.

On April 9, DWF Labs also subscribed 250 million WLFIs for US$0.1, with a total amount of US$25 million.

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

• Venus Protocol : On May 15, Venus, a decentralized lending platform based on BNB chain, announced that USD1 was officially launched.
• Meson Finance: On May 15, cross-chain DEX Meson Finance announced support for USD1.
• StakeStone : On May 9, StakeStone, the full-chain liquidity infrastructure, announced that the integration of WLFI was officially launched.
• Aster : On May 9, decentralized perpetual contract exchange Aster included USD1 in the collateral option. The project is deployed on Ethereum and BNB Chain.
• Lista DAO : On May 7, USD1 logged into the Lista DAO ecosystem, and the USD1/LestaDAO pool was launched, bringing the release of stable returns and DeFi effects. Lista DAO is a liquid staking derivatives (LSD) project operated within the BNB Chain ecosystem.
• Python Network : On May 3, USD1 was integrated into the oracle solution Python Network.
• Falcon Finance : On April 11, Falcon Finance launched USD1 as collateral, further expanding its application scenarios. This project is a synthetic dollar agreement supported by DWF Labs.

Log in to HTX and MEXC to complete MGX investment in Binance

The application of USD1 is not only limited to the decentralized ecosystem, but also quickly enters centralized exchanges. On May 7, the USD1/USDT trading pair was launched on the HTX exchange, supporting deposits and trading, which is the first time that USD1 has been listed on major centralized exchanges. On the same day, the USD1/USDT trading pair was launched on the MEXC exchange, with both withdrawal and transaction fees being zero.

It is also worth mentioning that on May 1, Eric Trump, the son of US President Trump and head of WLFI, said that the US dollar-denominated stablecoin USD1 issued by WLFI has been officially selected as the official stablecoin used by Abu Dhabi investment in MGX to complete a US$2 billion investment in Binance. "We thank MGX and Binance for their trust in us, and I think this is just the beginning," Eric Trump said at the Token2049 event in Dubai. Earlier this year, Abu Dhabi-based investment company MGX spent $2 billion to acquire a stake in Binance.

On May 16, Binance founder Zhao Changpeng also publicly stated for the first time that MGX's US$2 billion investment in Binance was completed with USD1 stablecoin, but it has nothing to do with TRUMP tokens (Meme coins).

In terms of consumption scenarios, USD1 has also connected to many crypto payment and commercial projects:

• TokenPocket : On May 15, TokenPocket, the decentralized multi-chain wallet, announced its support for USD1.
• HOT Walle t ( HOT Protocol ) : On May 9, HOT Wallet of TG Ecosystem announced its support for USD1.
• Umy : On May 9, Web3 travel and consumption platform Umy announced that users can use USD1 to book more than one million hotels and luxury travel services around the world on the platform.
• Pundi X : On May 8, the Pundi X payment ecosystem was fully connected to USD1, including XPOS and Pundi X Pay.

According to official introduction, USD1 is mainly aimed at institutional customers, and is positioned to provide secure and efficient cross-border payment and transaction tools, while supporting the widespread application of the DeFi ecosystem. WLFI co-founder Zach Witkoff once emphasized, “USD1 is a digital dollar stablecoin tailored for sovereign investors and large institutions, and can seamlessly and securely support cross-border transactions.”

Zach Witkoff also revealed that there will be more cooperation related to the stablecoin USD1 in the future. He said: "World Liberty is preparing a lot of plans...We are fully promoting the integration with traditional retail POS systems." At present, the USD1 cooperation is very rapid.

On May 7, WLFI began a new governance proposal: test airdrop functionality by distributing $1 to all $WLFI holders—rewarding the earliest supporters and preparing for future developments. The proposal ended on May 14, with a total of 11,780 people voting, and 99.96% of the voting weight expressed support, and the proposal was successfully passed.

Overall, since its launch, USD1 is showing its future potential as a DeFi project for the President’s family, thanks to its multi-chain expansion and multi-protocol integration. Is the stablecoin endorsed by the US president expected to gain a place in the stablecoin market and challenge the positions of USDC and USDT? The subsequent market trends are worth further observation.