Source: Gate
The cryptocurrency exchange platform Gate has announced a partnership with World Liberty Financial (WLFI) to launch the USD1 Point Program, becoming the first cryptocurrency exchange platform to exclusively debut a USD1 user incentive. This program will revolve around various scenarios such as trading, holding assets, and participation in financial management, providing users with a new way to earn points, further strengthening the stablecoin use case, and expanding USD1 ecosystem participation.
The Point Program is expected to officially launch soon, and users will be able to participate and earn points through the following methods: using USD1 in spot trading, engaging in stablecoin exchanges, holding USD1 assets, or participating in USD1-related Launchpad and financial projects. Limit order traders will receive additional bonus rewards. In addition, new users can unlock a time-limited $10 newcomer welfare after completing specified tasks.
USD1 was issued by WLFI in April of this year and is a compliant stablecoin backed by the US dollar, pegged to a 1:1 value. The issuance and custody are handled by BitGo Trust Company, regulated in South Dakota, USA, and the stablecoin is compatible with multiple blockchain networks such as Ethereum, BSC, and Tron. The release of this point program signifies its entry into a phase of refined operation on the trading platform, with the user incentive mechanism gradually rolling out, enhancing its competitiveness in the stablecoin market.
It is worth noting that Gate has currently become the world's second-largest holding exchange platform for USD1, occupying a key position in the stablecoin ecosystem's development. The introduction of the Point Program in collaboration marks a significant step for USD1 on the application side and indicates that leading trading platforms are accelerating the implementation and innovation of stablecoin incentive mechanisms. Additionally, Gate's official statement points out that this cooperation is entirely focused on building the ecosystem and user welfare mechanisms and that they have not made any direct investments in WLFI or USD1.
As stablecoin regulations become increasingly stringent, the actions of top platforms in ecosystem development will directly impact market confidence and user stickiness. Gate's pioneering launch of a Point Program in conjunction with USD1 not only reflects its emphasis on the emerging stablecoin ecosystem but also demonstrates its forward-looking strategic approach to driving cryptocurrency asset applications.
This article is contributed content and does not represent the views of BlockBeats.
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