Gate and World Liberty Financial reach strategic milestone: Gate becomes second-largest CEX holder of USD1
Main Idea
Gate has become the second-largest holder of the USD1 stablecoin among centralized exchanges, driven by the launch of Ika (IKA) on Gate Launchpad, which attracted significant user participation.
Key Points
1. Gate and World Liberty Financial (WLFI) announced a milestone in the adoption of USD1, a USD-backed stablecoin issued by WLFI.
2. Gate is now the second-largest holder of USD1 among centralized exchanges, trailing only Binance, with holdings of approximately $170 million on BSC and $20 million on Ethereum.
3. The surge in USD1 holdings was driven by the IKA Launchpad campaign, which saw user contributions exceed 200 million USD1 and 5.33 million GT, worth approximately $97.5 million.
4. USD1 is a 1:1 USD-backed stablecoin, collateralized by short-term US government treasuries, and operates on multiple blockchains including BSC and Ethereum.
5. Gate, founded in 2013, serves over 33 million users with more than 3,600 digital assets and is known for innovative solutions like Gate Ventures.
Description
Gate, a leading global cryptocurrency exchange, and World Liberty Financial (WLFI), the developer of a
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