Gate, a prominent global cryptocurrency exchange, and World Liberty Financial (WLFI), the developer of an innovative DeFi protocol and governance platform inspired by President Donald J. Trump, have announced a significant achievement in the adoption of USD1, a USD-backed stablecoin issued by WLFI. Recent on-chain data reveals that Gate has now become the second-largest holder of USD1 among all centralized exchanges, following closely behind Binance.
The increase in USD1 holdings on Gate can be attributed to the successful launch of Ika (IKA) on Gate Launchpad on July 26. The Launchpad campaign allowed for subscriptions in USD1 and Gate Token (GT), attracting a substantial amount of user participation and stablecoin inflow.
Analysis of on-chain data indicates that the majority of USD1 liquidity is currently concentrated on the BNB Smart Chain (BSC), with smaller reserves also present on Ethereum (ETH). Gate currently holds approximately $170 million USD1 on BSC, ranking second among centralized exchanges, and an additional $20 million USD1 on Ethereum, ranking first among CEXs on that chain. These figures closely align with the total USD1 allocation of 196 million tokens contributed to the IKA Launchpad event thus far.
In total, Gate Launchpad, in conjunction with IKA, has witnessed user contributions exceeding 200 million USD1 and 5.33 million GT, totaling approximately $97.5 million. This marks one of the largest Launchpad commitments in Gate’s recent history.
USD1 is a USD-backed stablecoin issued by World Liberty Financial, designed to offer transparent, regulated, and scalable digital dollar access across multiple blockchains. It is backed 1:1 by short-term US government treasuries, US dollar deposits, and other cash equivalents, with real-time audits and multi-chain deployment on BSC, Ethereum, and beyond.
The collaboration between Gate and World Liberty Financial signifies a shared dedication to constructing an open and compliant PayFi ecosystem, bridging traditional financial assets with next-generation decentralized infrastructure.
For more information on Gate Launchpad, visit: https://gate.com/zh/launchpad
About Gate
Gate, established in 2013 by Dr. Han, stands as one of the earliest cryptocurrency exchanges globally. With over 33 million users and a selection of more than 3,600 digital assets, Gate pioneered the industry’s first 100% proof-of-reserves. In addition to core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, and other innovative solutions.
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About World Liberty Financial
World Liberty Financial (WLFI) is a pioneering decentralized finance (DeFi) protocol and governance platform inspired by the vision of President Donald J. Trump. WLFI develops transparent, secure, and accessible financial tools, including institutional-grade products aimed at expanding participation in decentralized finance. WFLI’s USD1 is a stablecoin redeemable 1:1 for the U.S. dollar, fully backed by short-term U.S. treasuries, cash, and cash equivalents.
Stay updated and learn more at x.com/worldlibertyfi.
Media Contact
Frederica Ko, Senior PR Manager, Gate Exchange
Email: Frederica@gate.com
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