After the recent Fud de-pegging incident, WLFI's stablecoin $USD1 has undergone a significant transparency upgrade: real-time, on-chain reserve proof is now available. 👏
Previous stablecoin reserve proofs typically relied on monthly or quarterly audit reports, which had obvious lagging characteristics, and many people did not believe in the "1:1 full reserve".
Now WLFI has partnered with Chainlink to launch an on-chain reserve proof system that allows users to view real-time data more clearly and intuitively, with the mechanism being:
▪️Chainlink's CRE jobs continuously pull the latest reserve data from the custodian BitGo;
▪️The data is verified by Chainlink oracles and directly written to the blockchain;
▪️No manual intervention, no waiting for accounting closures, no delays, the reserve status is always real-time online.
I just checked the latest data for USD1 on the official page:
Total reserve amount: approximately 4.7116 billion USD
Collateralization rate: 100.00%
Total supply of USD1: approximately 4.7116 billion coins
Reserves and circulation have basically achieved a strict 1:1 match.
In addition, the page also shows the supply distribution of USD1 across multiple chains, including Ethereum, BNB Chain, Solana, Tron, and Aptos.
This upgrade from WLFI has transformed the stablecoin from a trust model to a verifiable model at any time, setting a new industry benchmark.
Now mom doesn't have to worry about my USD1 de-pegging and losing money anymore! 🤔