World Liberty Monetary, the cryptocurrency agency from which Donald Trump earnings, has introduced its plan to launch a stablecoin, USD1.
USD1 is described as a stablecoin pegged to the US greenback that “will be 100% backed by short-term US government treasuries, US dollar deposits, and other cash equivalents.”
Apparently, the stablecoin will launch on Ethereum and Binance Sensible Chain.
Custody for the coin will likely be managed by BitGo, the agency that collaborates with Justin Solar and BiT World for Wrapped Bitcoin (WBTC), a significant element of the World Liberty Monetary portfolio.
Apparently, neither the governance boards nor the governance portal mentioned or voted on the launch of USD1 and this modification to World Liberty Monetary. Really, there has not been a single put up of any form within the governance discussion board since January 9.
Learn extra: Is World Liberty Monetary a useless challenge?
Up to now, solely a single vote has been held and this involved launching an AAVE occasion. Regardless of that vote concluding over three months in the past in December of final yr, that occasion has but to launch.
Much more intriguing is the chance that trade contributors knew about this challenge earlier than its launch. Earlier than this challenge’s announcement, Binance founder Changpeng Zhao highlighted a contract on Binance Sensible Chain that bore the identical title.
Cryptocurrency market maker Wintermute seems to have interacted with this token as properly.
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