Meanwhile, market observers believe the firm selected the $47 figure to honor Trump’s designation as the 47th President of the United States. This symbolic gesture adds a political and cultural layer to what would otherwise be a standard reward mechanism.
Launched in April 2025, USD1 is WLFI’s core stablecoin. It is pegged to the US dollar and backed by reserves such as Treasuries and cash equivalents.
“Up to $1 million in rewards, a 4-week trading campaign, and exclusive support for the top trading pools & meme projects.”
Notably, the digital asset’s trading is mainly dominated by on-chain activity.
In addition, PancakeSwap V3 trades surged after the Binance listing, jumping from 28,000 on May 21 to over 283,000 by May 26.
Despite this momentum, USD1 continues to face criticism over centralization. Kaiko pointed out that three wallets control most of the circulating supply, sparking concerns about liquidity and governance risks.
They also noted that the stablecoin’s slower adoption than rivals is partly due to its lack of institutional backers and minimal promotional incentives.
Moreover, the project hasn’t escaped political scrutiny.
