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StakeStone has partnered with Trumpâs World Liberty Financial (WLFI), bringing cross-chain liquidity support for its USD1 stablecoin. USD1 users will also benefit from the firmâs sustainable yields.
This partnership will remove the need for bridges, wrapping, or waiting periods when moving USD1 tokens cross-chain. Stakestone did not specify which blockchains are eligible for this support, but it has integrated more than 20 of them.
The Trump family-associated World Liberty Financial shocked the world when it launched USD1, a dollar-backed stablecoin that has attracted a lot of controversy.
Still, USD1 has proven to be a success, quickly exceeding $2 billion in market cap, and the firm is now looking for infrastructure upgrades.
Thanks to a partnership with StakeStone, WLFIâs stablecoin will now enjoy increased cross-chain liquidity:
What, however, is StakeStone? This decentralized omnichain liquidity infrastructure protocol grew in prominence last year as a liquid staking pool.
It allows users to stake assets, earning yields while maintaining the ability to utilize these assets across various DeFI protocols. Five tokens exist in its ecosystem, primarily aiding interactions with ETH and BTC.
StakeStone has integrated with over 20 blockchains and 100 protocols, and this trait is particularly attractive to WLFI. The pairâs partnership announcement doesnât directly mention staking USD1, but that isnât the main draw.
Instead, StakeStoneâs cross-chain infrastructure will facilitate USD1 users easily moving across multiple blockchains.
The two companies kept most of the specific information under wraps, but a few key components are clearly visible. WLFI users will benefit from StakeStoneâs STONE, a yield-bearing token representing staked ETH.
USD1 transactions can now employ STONEâs seamless and fluid cross-chain operations without the need for bridges, wrapping, or waiting periods.
Although StakeStoneâs notoriety grew last year, this WLFI partnership could take it much higher. The companyâs TVL is around $2 billion, roughly the same as USD1âs market cap after a month on the market.
WLFIâs stablecoin, for its part, will gain real-world usability and DeFi-native liquidity and flexibility. Both parties stand to benefit substantially from this deal.
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