- In the airdrop, World Liberty Financial will distribute $1 worth of USD1 per wallet on the Ethereum Mainnet, subject to eligibility criteria and budgetary review.
- The proposal has received broad community support, with a formal governance vote pending to finalize the execution.
World Liberty Financial has a proposal for its first onchain airdrop that will also serve as a strategic move to validate its blockchain infrastructure and boost visibility ahead of a broader rollout. The project is going to send out a small amount of money or the native stablecoin issued by the project, known as USD1 to all the eligible holders of the WLFI token.
World Liberty Financial Airdrop Proposal Details
The newly published advisory states that the airdrop is a live production test for the platform to test the airdrop capabilities. “This test serves three key purposes: to ensure our infrastructure is functioning as intended, to drive initial visibility and awareness of USD1, and to thank early $WLFI adopters,” the proposal said.
According to the proposal, the distribution will be on the Ethereum Mainnet, but holders of current WLFI are yet to be defined as eligible. USD1 is a stablecoin that adds the U.S. dollar as a backer behind the short-term U.S. Treasury deposits, dollar deposits, and equivalent cash reserves.
The amount of airdrop is yet to be determined, but according to the plan, the amount will be fixed, USD1 per wallet. Execution of the project will be based on final figures, which will depend on the total number of the eligible participants and amount of budget, which will be reviewed first. World Liberty Financial, Inc. is expected to fund the test and they can do so directly.
The airdrop was confirmed despite the airdrop’s tentative approval, and the company made plain its right to adjust or cancel the program. “Even if approved, World Liberty Financial, Inc. reserves the right to discontinue, suspend, modify or terminate the test airdrop at any time,” the proposal clarified.
For the most part, there has been a community response to the project on its governance forum, with a very large majority agreeing that it is appropriate to run a test on the project. Now, the proposal has to receive a formal governance vote that will lead to the execution phase. The airdrop will be distributed throughout the project’s on-chain distribution system, limited to 500,000 POOL tokens, and will be followed by a public announcement if approved.
WLFI Token Sale & Stablecoin Plans
Of late, World Liberty Financial recently carried out a very huge token sale as they offloaded 25% of their 100 billion WLFI token supply. Indeed, there have also been data indicating that the project has managed to raise as much as $590 million through private and public rounds. This only shows how much the community has come to be interested in this initiative. On the other hand, World Liberty Financial is building its own crypto reserves, as highlighted in our previous story.
With the U.S. currently taking steps towards its own regulatory clarity around stablecoins, World Liberty’s efforts to make USD1 resonate with national political tide. Several congressional hurdles have been cleared for the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) bill. It demonstrates increased institutional support for US-based digital assets.
On its official site, the company by World Liberty Financial introduces former President Donald Trump as its ‘chief crypto advocate’ with Eric Trump, Donald Trump Jr. and Barron Trump as members. The whitepaper, however, states that Trump family does not have operational control or ownership of the project.
