Donald Trump-linked stablecoin, USD1 has launched on the Binance Smart Chain (BNB), giving investors the opportunity to trade the token on Pancake swap. The BNB chain confirmed the development on Wednesday, indicating that the stablecoin is now tradable on the DEX.
With the launch, USD1 now joins the growing list of stablecoins in the BNB ecosystem. With the launching, USD1 is joining the likes of USDT, USDC, DAI, USDeUSD0, USDX, USSD, and TUSD alongside many others in the broader stablecoin space.
The deployment of USD1 to Pankeswap surfaced shortly after WLFI announced web3 expert and Forbes 30 under 30 honoree, Bilal Bin Saqib, as an advisor to the firm. As announced, the organization said the new adviser will help with his experience across various sectors.
Similarly, over the weekend, Lista Lending, a decentralized autonomous organization that specializes in crypto lending and borrowing, unveiled a pool for the USD1 stablecoin. By that, the DAO made history as the first project on the BNB network to support USD1.
Further, the development now creates a pathway for investors to lend and borrow the stablecoin, consequently establishing a utility case for the new token. Lista Lending committed $52 million to the pool ensuring it enjoys good stability and efficiency.
How WLFI rolled out USD1 under the radar
More so, the launching of the USD1 stablecoin emanated in a quiet environment without any prior announcement from the issuer, World Liberty Financial (WLFI). Despite the viral rumors that the stablecoin made a discreet debut on Ethereum and BNB chains, WLFI is yet to clear the air.
According to former Binance CEO, Changpeng Zhao, smart contracts of the stablecoin deployed on the BNB chain since early March, even before WLFI revealed plans to launch its stablecoin. Similarly, in March, popular blockchain analytics firm LookOnChain reported that it noticed a transfer between the smart contracts and a wallet linked to Wintermute, a popular crypto market maker.
Meanwhile, the report from LookOnChain suggested that the transactions were mere tests to assess the efficiency of the new stablecoin. According to finding, WLFI kick-started the mainnet soft launch on April 12 after first liquidity pools for the stablecoin deployed on PankeSwap V3 and Uniswap V3.
At the moment, the new stablecoin is enduring tough questions as a result of its link to the US president, Donald Trump. Some US lawmakers are kicking hard against USD1, as they claim Trump is supporting the adoption of stablecoins for his gains.
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