Analysis: WLFI spent $115 million to expand the market for USD1, resulting in a 50% increase in the size of the stablecoin and a tenfold increase in trading volume.

CoinFeed reported on May 24th that, according to on-chain analyst Yu Jin, WLFI has spent over $115 million (in WLFI form) in four months to expand the market for USD1. This includes interest rate subsidies for USD1 on CEXs (Binance, Bybit, etc.), activity subsidies on Aster, and interest rate subsidies on the on-chain lending platform (Dolomite). Based on this, the size of USD1 has increased by 50% ($3.137 billion → $4.76 billion), rising from 7th to 4th place among USD stablecoins, surpassing USDe and PYUSD, and currently ranking only behind USDT, USDC, and DAI.