Trump Family’s WLFI to Airdrop USD1 Stablecoin to Token Holders

Trump family’s WLFI is preparing to airdrop its USD1 stablecoin on the Ethereum network to eligible token holders as a reward for early support. The move is part of a system test to validate the platform’s smart contracts and distribution process.Strong community support for USD1 airdropA proposal to initiate the USD1 airdrop has received near-unanimous backing from WLFI token holders. According to the WLFI governance forum, over 99 percent of votes have supported the plan since the snapshot vote began on May 6. More than 2.6 billion tokens were used to vote in favor, while just 901,000 were cast against the proposal. The vote is scheduled to close on May 14.WLFI emphasized that the airdrop serves two purposes: to test the technical infrastructure behind USD1 and to reward its early supporters. The total amount of USD1 to be distributed has not yet been finalized. WLFI stated the distribution would be based on the number of eligible wallets and the airdrop budget. The company also noted that the test program could be paused, modified, or ended anytime.New partnerships and exchange listingsWLFI announced on May 5 that the USD1 stablecoin officially launched for trading on HTX Global. Trading went live on May 6, and withdrawals became available on May 7. In addition to HTX Global, WLFI has formed a strategic collaboration with ListaDAO.ListaDAO confirmed that the USD1 Vault is now active and revealed that a liquidity pool for USD1 and lisUSD is coming soon. The platform will soon support USD1 as collateral for its collateralized debt positions. These partnerships reflect WLFI’s efforts to increase USD1’s utility and compliance across the crypto space.Regulatory questions and governance concernsDespite the growing support, WLFI’s operations are under political and regulatory scrutiny. The stablecoin’s launch in April coincided with renewed congressional discussions around the STABLE Act. Questions have emerged about potential conflicts of interest involving former President Donald Trump. Reports indicate that $390 million from the $550 million raised in WLFI’s token sales was directed to DT Marks DEFI LLC, a Trump-affiliated entity.Concerns have also been raised about the project’s governance. The WLFI token remains non-transferable, raising issues related to decentralization and transparency. Lawmakers, including Senator Elizabeth Warren and Representative Maxine Waters, have requested the SEC release internal documents tied to WLFI, citing possible regulatory favoritism.The post Trump Family’s WLFI to Airdrop USD1 Stablecoin to Token Holders first appeared on Coinfea.