BlockBeats news, on July 19, World Liberty Financial (WLFI) completed a strategic purchase of the native token $BANK of the Lorenzo Protocol, with a total purchase amount of 636,683 tokens, approximately $40,000. This purchase occurred after the announcement of the results of the USD1 $1M incentive program. The program was jointly initiated by WLFI, BNB Chain, PancakeSwap, and BUILDon, and Lorenzo was awarded as the winning project in the 'Existing BSC Projects' track due to its performance in expanding the USD1 application.
The USD1+ OTF product launched by Lorenzo is an important practice for promoting the implementation of the USD1 application. This product uses USD1 as the unified settlement asset, expanding its functionality from a payment tool to an on-chain yield asset. Lorenzo issues financial management tokens to accommodate the on-chain liquidity deployment of USD1, expanding its application boundaries in asset management and protocol integration scenarios, aiding USD1 in achieving large-scale adoption.
