BounceBit has announced support for USD1, a new stablecoin backed by the World Liberty Financial (WLFI). Users can now use USD1 in BounceBit’s CeDeFi (Centralized + Decentralized Finance) Portal. This coin can be used in the Auto’ Strategy, which automatically finds safe, delta-neutral yield opportunities using both centralized and decentralized platforms.
USD1 is a stablecoin that’s fully backed by safe assets like short-term U.S. Treasury bills, cash in U.S. bank accounts, and similar low-risk holdings. Its reserves are kept safe by BitGo, a trusted global custodian.
Currently, users can deposit USD1 using the BNB Chain, and support for more networks will be added soon. Using a trusted and clear stablecoin like USD1 with BounceBit’s earning system helps users make money on their crypto. It’s designed to be safe, simple, and easy to use. With this launch, BounceBit will open a special Promo Vault on June 9, offering 15% APR for 30 days with a total cap of $1 million.
In May, USD1 was listed on major crypto exchanges, including Binance with the USD1/USDT trading pair. On May 27, MEXC also announced support for PI/USD1 and SOL/USD1 pairs, allowing users to trade Pi Coin and Solana directly against the new stablecoin USD1.
WLFI also airdropped $47 worth of USD1 to presale supporters—a likely nod to Donald Trump potentially becoming the 47th U.S. President. The drop was first spotted on June 4 and quickly confirmed by users on social media.
Also Read: Chainlink Partners with World Liberty Financial for USD1 Cross-Chain
