GATE, a worldwide cryptocurrency alternate that’s the developer of pioneering Defi protocols and governance platforms impressed by President Donald J. Trump, has collectively introduced main milestones within the rising adoption of USD1, a USD-backed USD-backed Stablecoin issued by WLFI. In response to present on-chain knowledge, GATE formally turns into the second largest USD1 proprietor of all centralized exchanges, monitoring solely Binance.
GATE’s USD1 holdings had been pushed by the launch of IKA (IKA) on the GATE LaunchPad on July twenty sixth. The LaunchPad marketing campaign helps USD1 and Gate Token (GT) subscriptions, attracting important person participation and Stablecoin inflow.
In response to on-chain knowledge, most USD1 liquidity is at present concentrated in BNB Sensible Chains (BSC), with small however notable reserves of Ethereum (ETH). GATE at present holds USD1 of roughly USD 1 in BSC and ranks second in CEXS. This correlates intently with the overall allocation of US$199 million tokens which have contributed to the IKA LaunchPad occasion thus far.
In complete, GATE Launchpad with $IKA has its person contributions above US$200 million and 533 million GT, price round $97.5 million, marking one of many largest launchpad commitments in Gate’s latest historical past.
USD1 is a USD-backed Stablecoin issued by World Liberty Monetary, designed to supply clear, regulated, scalable digital greenback entry throughout a number of blockchains. Supported 1:1 by the short-term US authorities’s Treasury Division, US Greenback Deposits and different money equivalents, there are real-time audits and multi-chain deployments at BSC, Ethereum and extra.
The collaboration demonstrates the events’ dedication to creating an open and compliant PayFi ecosystem.
Extra about Gate LaunchPad: See https://gate.com/zh/launchpad
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