USD1 Project Overview!!!
USD1 is a stablecoin, meaning its value is tied to the US dollar. It was created by World Liberty Financial Inc. Each USD1 is backed by one US dollar. You can check this with outside audits.
You can use USD1 for things like borrowing money in DeFi, sending money across borders, and for big money deals.
USD1 came out in March 2025. It works on Ethereum and BNB Chain. There are over $2 billion worth of USD1 in use, making it one of the biggest stablecoins.
It was used in a big 2 billion investment by MGX in Binance, showing it's being used by important groups.
The money to back USD1 comes from US dollars, and they're watched by outside groups. The project has raised $550 million since October 2024.
The Trump family has a big role in running USD1, making it a transparent project that tries to follow all the rules. It aims to connect regular finance and crypto.
USD1 works with big DeFi platforms like Aave and Chainlink. You can use it for lending, providing liquidity, and earning rewards.
It also helps exchanges with trading.
You get USD1 by putting in money. There are no tokens set aside for the team or the project. Every USD1 is backed by one dollar in a BitGo account.
There are no rules about when you can use or sell your USD1. It's almost free to get and use USD1, good for big or small transactions.
You can use USD1 with WLFI debit cards and in WLFI's apps. You can use USD1 as collateral, but you don't get extra rewards for holding it.
Key people include:
Zach Witkoff, who comes from a real estate background. Chase Herro, who leads data strategy. The project has a lot of money, which helps with following the rules and expanding worldwide.
The project's close ties to the Trump family could be a risk.
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