World Liberty Monetary (WLFI), a crypto enterprise affiliated with US President Donald Trump, plans to distribute 8.4 million WLFI tokens price about $1.2 million to early members in its USD1 stablecoin loyalty program.
The airdrop will reward customers who joined the USD1 Factors Program, launched two months in the past to advertise adoption of World Liberty’s US greenback–backed stablecoin. Members have earned factors by buying and selling USD1 pairs on associate exchanges and sustaining balances.
“The factors and eligibility for incomes factors and rewards and distribution particulars could range primarily based on every trade’s guidelines,” the corporate stated in a Wednesday publish on X.
World Liberty added that the preliminary WLFI distribution will happen on six exchanges, together with Gate.io, KuCoin, LBank, HTX International, Flipster and MEXC, with eligibility and rewards decided by every platform.
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World Liberty to broaden factors program
World Liberty stated the factors initiative will broaden to incorporate new venues, decentralized finance integrations and extra methods for customers to earn and redeem rewards. “That is solely the start,” the corporate wrote.
USD1, issued by World Liberty Monetary and custodied by BitGo, ranks because the sixth-largest stablecoin globally with a market cap of $2.94 billion, in line with information from CoinMarketCap.
Earlier this yr, Eric Trump revealed that Abu Dhabi funding agency MGX will use USD1 to settle its $2 billion funding in Binance, marking the primary institutional funding within the trade.
WLFI is at present buying and selling at $0.14, down 0.5% over the previous 24 hours, information from CoinMarketCap reveals. The token is down almost 70% from its all-time excessive of $0.46 registered in September.
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Trump’s crypto empire nets over $1 billion in revenue
Trump’s second time period has coincided with an enormous surge in his private fortune, fueled largely by the household’s cryptocurrency ventures. In keeping with a latest Monetary Occasions investigation, Trump’s crypto empire has generated greater than $1 billion in pre-tax income over the previous yr.
On the heart of this windfall is World Liberty Monetary. Trump disclosed $57.4 million in revenue from the agency in June. Nonetheless, the household’s stake surged to $5 billion after a latest token unlock. The FT estimated they’ve earned $550 million from WLFI alone this yr.
The Trump household has additionally profited from its branded memecoins, Official Trump (TRUMP) and Official Melania Meme (MELANIA), incomes about $427 million mixed. Moreover, their USD1 stablecoin has introduced in $42 million in revenue since April.
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