A proposal has been made by World Liberty Financial (WLFI), a crypto platform supported by the Trump family, 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 is scheduled to conclude on May 14, and as of now, overwhelming support has been recorded, with 99.97% of votes cast in favor.
According to the May 6 proposal posted in the WLFI governance forum, over 99% of votes have already been cast in favor, paving the way for a small amount of USD1 to be distributed to eligible WLFI token holders through an airdrop.
It is stated in the proposal that conducting a live test of the airdrop mechanism is considered essential to verify the functionality and preparedness of the smart contract. The distribution is also intended to serve as a gesture of appreciation for the earliest supporters and to familiarize them with USD1.
It is noted that this initiative will enable the technical functionality of World Liberty Financial’s airdrop system to be validated in a real-time environment, while early supporters of the project are being acknowledged with appreciation.
According to the proposal, the specific amount of USD1 to be distributed has yet to be finalized and will be determined based on the total number of eligible wallets and the available budget.
The scheduled date for the airdrop has not yet been confirmed, and it has been stated by WLFI that the organization retains the right to discontinue, suspend, modify, or terminate the test airdrop at any given time.
Global Rivals Emerge to Challenge U.S. Dollar Stablecoins
The vote is set to conclude on May 14, with current results showing strong support—approximately 2.6 billion tokens, or 99.97%, have been cast in favor. In contrast, only about 901,000 tokens, representing 0.03% of the vote, have been used to oppose the proposal.
The stablecoin was introduced by WLFI in early March. Since the platform’s debut in September, two public token sales have been conducted by the crypto firm, resulting in a total of $550 million raised 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.
Plans to introduce stablecoins backed by currencies other than the US dollar have been announced by several other countries.
A collaborative initiative to launch a new stablecoin pegged to the dirham was announced on April 28 by three major Abu Dhabi institutions, including the Emirate’s sovereign wealth fund.
A proposal was put forward on April 16 by an official from Russia’s finance ministry 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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