Rising Star in American Politics Launches Stablecoin USD1: Multi-Chain Layout, Rapid Integration of Multiple Protocols

Recently, a company named World Liberty Financial Inc. (WLFI) announced the launch of a stablecoin USD1 pegged to the US dollar at a 1:1 ratio. This stablecoin soft-launched on the mainnet around April 12, with the first liquidity pools deployed on a certain DEX. According to incomplete statistics, USD1 has rapidly expanded and integrated with over 10 protocols or applications.

The launch of USD1 has attracted widespread attention in the market, especially regarding its deployment on Ethereum, a certain trading platform's ecosystem, and Tron. Notably, the 2 billion USD financing obtained by a certain trading platform was paid in USD1, which added 2 billion USD to the market capitalization of this stablecoin.

According to the official introduction, USD1 is 100% backed by U.S. Treasury bills, U.S. dollar deposits, and other cash equivalents, ensuring that each token is anchored to a value of 1 USD. The reserve asset portfolio is regularly audited by a third-party accounting firm and held by an independent qualified custodian. In addition, a bulk brokerage service company will also support USD1, providing sufficient liquidity and trading opportunities for institutional clients.

USD1 was initially minted on the Ethereum and a certain trading platform ecosystem. On May 1, the co-founder of WLFI announced that USD1 would also be natively issued on the Tron chain, further expanding its cross-chain capabilities.

As of May 15, the total circulation of USD1 has reached 2.13 billion coins, with a market value of approximately 2.13 billion USD, ranking 5th in the stablecoin market.

The launch of USD1 quickly triggered liquidity deployment in the market. Multiple market makers have deployed several DeFi liquidity pools for USD1, with a total value reaching tens of millions of USD. These pools include pairs with mainstream cryptocurrencies such as USDT, USDC, ETH, and BNB.

In addition to the deployment of liquidity pools, USD1 is also actively expanding its DeFi ecosystem. Multiple protocols and DAOs have announced the integration of USD1, including decentralized lending platforms, cross-chain DEXs, full-chain liquidity infrastructure, decentralized perpetual contract exchanges, and more.

The application of USD1 has also expanded to centralized exchanges. On May 7, the USD1/USDT trading pair was launched on several major exchanges, supporting deposits and trading.

In consumer scenarios, USD1 has already integrated with numerous crypto payment and commercial projects, including multi-chain wallets, Web3 travel and consumption platforms, etc. Users can use USD1 for various consumption activities on these platforms.

The co-founder of WLFI emphasized that USD1 is primarily aimed at institutional clients, positioning itself to provide secure and efficient cross-border payment and trading tools, while also supporting the broad application of the DeFi ecosystem. He also revealed that there will be more collaborations related to USD1 in the future, including integration with traditional retail POS systems.

Overall, since its launch, USD1 has demonstrated tremendous development potential with its multi-chain expansion and multi-protocol integration. Will this uniquely positioned stablecoin be able to carve out a place in the market and challenge the dominance of existing stablecoin giants? The subsequent market dynamics are worth further attention.