The Trump family-backed cryptographic platform World Liberty Financial (WLFI) proposes broadcasting a small amount of Stablecoins awarded in new USD to reward early WLFI owners in testing the airdrop mechanism.
According to the WLFI Governance Forum's May 6 proposal, Airdrop will distribute a small amount of USD1 to eligible owners of WLFI tokens, as more than 99% of the votes are already in favor of the proposal.
“Testing the airdrop mechanism in a live setting is a necessary step to ensure the functionality and preparation of smart contracts. This distribution also serves as a meaningful way to thank early supporters and introduce them to USD1,” the proposal states.
“This allows World Liberty Financial to examine the technical capabilities of the airdrop system in a live environment, thanking the early supporters of the project.”
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According to the proposal, the amount of USD1 will still be determined, but it is based on the total eligible wallet and budget.
The airdrop date is also pending, and WLFI says it reserves “the right to abort, suspend, modify or terminate a test airdrop at any time.”
The vote is scheduled to close on May 14th, and so far, 2.6 billion, or 99.97% of the tokens, have been used to vote YES. Contrary to this measure, it accounts for around 901,000 votes to date, or 0.03% of votes.
WLFI released Stablecoin in early March. Since the platform was launched in September, Crypto Firm has also completed two public token sales, earning a total of $550 million from 85,000 registered owners.
Other countries challenging US dollar stub coins
In April, the market capitalization of the US dollar-free stubcoin exceeded $23 billion. A report from investment banking giant Citigroup found that Tether (USDT) and USDC (USDC) dominate 90% of the market, up 54% from last year.
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However, other countries have announced plans to launch stubcoins backed by currencies other than the US dollar.
On April 28, a trio of major Abu Dhabi institutions, including Emirates' Sovereign Wealth Fund, announced a joint initiative to launch a new Dirham Page stubcoin.
Officials from the Russian Treasury also raised plans to develop their own stubcoin on April 16 after US authorities and stubcoin issuers frozen in wallets linked to authorized Russian exchange Garantex.
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