On Thursday, World Liberty Financial, a DeFi project backed by the Trump family, announced a loyalty points program for USD1 stablecoin users, in collaboration with selected crypto exchange partners. The initiative aims to reward users for their trading and engagement activities in a manner similar to traditional loyalty programs found in American brands. As stablecoins play a crucial role in crypto adoption by facilitating trading, payments, and DeFi activities, World Liberty Financial seeks to provide direct rewards to users through this new USD1 points program. Participants can earn points by trading USD1 pairs on partner exchanges, maintaining USD1 balances, staking for yield, using it in approved DeFi applications, and interacting with the WLFI mobile app. Specific trading and holding rules from partners will be outlined, with point calculations potentially varying by platform as the network grows. The program's launch date has not yet been announced, but the crypto exchange Gate has confirmed its involvement, planning to offer extra points on limit orders. Importantly, Gate Labs clarified that they are not investors in World Liberty Financial or its USD1 token. Launched in April, World Liberty Financial claims that its USD1 stablecoin is entirely backed by short-term U.S. government treasuries, U.S. dollar deposits, and similar cash equivalents, issued by BitGo Trust Company. Trump's endorsement has contributed to the thriving market for dollar-backed stablecoins, which has recently surpassed $250 billion in total market cap. However, concerns over potential conflicts of interest have arisen due to the Trump family's roles within the project. In June, World Liberty Financial initiated an airdrop of USD1 to approximately 85,000 WLFI governance token holders, thanking them for their support. Recently, WLFI holders voted to unlock their tokens for trading for the first time, signaling growing community engagement.
❓ What is the loyalty points program by World Liberty Financial?
It's a program rewarding users of the USD1 stablecoin with points for trading and engagement activities.
❓ How can users earn points?
Users can earn points by trading USD1 pairs, holding balances, and more.
❓ When will the points program be launched?
The launch date has not been confirmed yet.