Donald Trump’s World Liberty Financial (WLFI) has again made a big move in the crypto space. This time, the DeFi project looks to have deployed a stablecoin on the BNB Chain. Binance’s former CEO, Changpeng Zhao, also reacted to this development and welcomed WLFI aboard.
Trump’s World Liberty Financial Launches Stablecoin On BNB Chain
Onchain data indicates that World Liberty Financial has issued a stablecoin on the BNB chain named USD1. The token still looks to be in the testing phase, with market maker Wintermute among those who have carried out test transactions.
Onchain data also shows that the stablecoin launched twenty days ago. However, it is unclear why there hasn’t been an official announcement from WLFI if, indeed, the DeFi project deployed the token.
Although World Liberty Financial has yet to make an announcement, Binance founder Changpeng “CZ” Zhao reacted to this development, welcoming the DeFi project aboard the top layer-1 network. CZ also noted that the smart contract was deployed 20 days ago.
Interestingly, this move comes amid reports that Donald Trump’s family is eyeing a stake in Binance US and that CZ is seeking a pardon from the US president. However, the Binance founder denied these reports. As such, there may be no connection between these developments.
BNB Chain Launches Liquidity Program
Amid World Liberty Financial’s supposed stablecoin issuance, the BNB Chain has launched a $100 million permanent liquidity program. The network remarked that this initiative aims to further enhance its ecosystem’s liquidity and foster project growth by incentivizing exchanges to list native BNB Chain tokens, thereby strengthening on-chain liquidity and solidifying market foundations.
BNB further announced that this round of liquidity support will cover all sectors, including meme, AI, DeFi, gaming, and more. The network stated that rewards will be distributed on a first-come, first-served basis to projects that meet the criteria.
One of the criteria is the exchange that lists the token. BNB categorized the exchanges into T1, T2, and T3. T1 includes top crypto exchanges Binance, Coinbase, and Upbit. Tokens that achieve listings on these exchanges will receive up to $500,000. Meanwhile, tokens listed on T2 and T3 exchanges will receive up to $250,000 and $50,000, respectively.
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