If you're into crypto live news or always on the lookout for the latest news in crypto, here’s something exciting: World Liberty Financial (WLFI), a platform backed by the Trump family, just proposed an airdrop for crypto holders.
On May 6, WLFI shared on its governance forum that it’s planning a test airdrop of its new US dollar stable coin, USD1. This means if you’re already holding WLFI tokens, you might be rewarded soon! Over 99% of voters have already approved this move, making it one of the most supported proposals in WLFI’s history.
For those wondering, crypto what is an airdrop?—it's basically a free distribution of crypto coins to specific wallet holders. In this case, WLFI wants to give early supporters a small amount of USD1 to say thank you and to test out its smart contract system in a live setting.
“Testing the airdrop mechanism in a live setting is a necessary step to ensure smart contract functionality and readiness.”
This is big airdrop news crypto fans can’t miss!
The exact amount of USD1 you’ll receive hasn’t been decided yet. It’ll depend on the number of crypto holders in the world that are eligible and the budget WLFI allocates. Also, they haven’t set the airdrop date yet. WLFI mentioned they could change or cancel the test airdrop anytime.
Voting will close on May 14. Right now, the “yes” side is crushing it with 2.6 billion votes (that’s 99.97% of all votes!). Only 0.03% of voters are against it. If you’re holding WLFI tokens, this is definitely something to watch in the latest crypto news.
Since launching its stablecoin in March, WLFI has grown fast. The platform started in September and has already completed two public token sales, raising $550 million from over 85,000 users.
According to Citigroup, the total US dollar market cap for stablecoins crossed $230 billion in April. The majority of this market is dominated by USDT and USDC, controlling 90% of all US dollar stable coin supply.
While the U.S. leads in stablecoin adoption, other nations are stepping in. On April 28, a group of institutions from Abu Dhabi announced plans for a dirham-backed stablecoin. Meanwhile, Russia is exploring its own option after U.S. sanctions froze wallets linked to the Russian exchange Garantex.
These updates show just how fast the world of crypto is changing, especially on United States crypto exchanges and across the globe.
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