World Liberty Financial (WLFI), a crypto platform the Trump family supports, proposed to distribute a limited amount of its newly launched US dollar-pegged stablecoin as an airdrop to early WLFI holders, serving as a trial of its airdrop system.
The airdrop proposal vote will conclude on May 14, and as of now, it shows overwhelming support, with 99.97% of votes cast in favor.
According to the May 6 proposal posted in the WLFI governance forum, over 99% of votes already support it, paving the way for an airdrop to distribute a small amount of USD1 to eligible WLFI token holders.
The proposal states that conducting a live test of the airdrop mechanism is essential to verify the smart contract’s functionality and preparedness. The distribution also aims to serve as a gesture of appreciation for the earliest supporters and to familiarize them with USD1.
This initiative will validate World Liberty Financial’s airdrop system’s technical functionality in a real-time environment, while it acknowledges early project supporters with appreciation.
The proposal states the project will determine the specific amount of USD1 to distribute based on the total number of eligible wallets and the available budget, as it has yet to finalize that amount.
WLFI has not yet confirmed the scheduled date for the airdrop, and the organization states it retains the right to discontinue, suspend, modify, or terminate the test airdrop at any given time.
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The vote will conclude on May 14, with current results showing strong support—approximately 2.6 billion tokens, or 99.97%, favoring the proposal. In contrast, only about 901,000 tokens, representing 0.03% of the vote, oppose it.
WLFI introduced the stablecoin in early March. Since the platform’s September debut, the crypto firm conducted two public token sales, raising a total of $550 million from 85,000 registered holders.
According to a report released by investment banking giant Citigroup, the market capitalization of US dollar-pegged stablecoins surpassed $230 billion in April, reflecting a 54% increase compared to the previous year. Approximately 90% of the market is being dominated by Tether and USDC.
Several other countries have announced plans to introduce stablecoins backed by currencies other than the US dollar.
On April 28, three major Abu Dhabi institutions, including the Emirate’s sovereign wealth fund, announced a collaborative initiative to launch a new stablecoin pegged to the dirham.
On April 16, an official from Russia’s finance ministry put forward a proposal for the development of a national stablecoin, following the freezing of wallets associated with the sanctioned Russian exchange Garantex by U.S. authorities and stablecoin issuer Tether.
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