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ToggleBinance today (20th) announced the launch of the USD1 airdrop event , which will distribute a total of 135 million WLFI tokens to users who hold USD1, a stablecoin under World Liberty Financial (WLFI).
The event will run from March 20 to April 17, with a fixed release of 33.75 million units per week for four consecutive weeks.
How to participate:
Eligible users must hold a USD1 balance (net assets) in any of the following Binance account categories:
Spot account
Funds account
Margin account (as collateral)
USDT-M contract account (as collateral)
The key difference lies in the multiplier difference brought about by the account type: if USD1 is held as collateral in a margin or contract account, users can enjoy a 1.2x reward bonus, which is equivalent to encouraging users to deeply embed USD1 into Binance's leverage ecosystem.
Reward Calculation Formula
The calculation method is "7-day average qualified balance × effective annualized × 7 ÷ 365", and the settlement is done on a weekly basis.
However, there is a noteworthy implicit deduction clause. The official announcement states that USD1 obtained through borrowing other stablecoins will be discounted by 70% after deducting liabilities in other stablecoins , including USDT, USDC, U, RLUSD, and FDUSD .
Case Demonstration
User A holds 10,000 USD1 in their spot account and 20,000 USD1 as collateral in their leveraged account during week 1. Assuming an effective annualized yield of 20% on the distribution date, and an annualized yield of 24% with a 1.2x leverage, the reward they should receive at the end of week 1 is:
[(10,000 * 20% * 7) / 365] + [(20,000 * 24% * 7) / 365] = $130.41 equivalent in WLFI
–
User B borrows 5,000 USD1 from VIP or leverage (liability). Of this 5,000 USD1, 4,000 USD1 is used as margin collateral, and the remaining 1,000 USD1 is held in their spot account during the first week. Assuming an effective annualized return of 20% on the distribution date, and an annualized return of 24% with 1.2x leverage, User B's reward at the end of the first week is:
Eligible balance = 0
[(0 * 20% * 7) / 365] + [(0 * 24% * 7) / 365] = $0 equivalent WLFI
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User C has 1,000 USD1 in a leveraged account and uses it as collateral to borrow 4,000 USDT ("Other Stablecoin Liabilities"), then converts the 4,000 USDT into USD1. The user now holds 5,000 USD1 in the leveraged account ("USD1 Balance"). Assuming an effective annualized return of 20% on the distribution date and a 1.2x leveraged annualized return of 24%, User C's reward at the end of the first week is:
Qualified balance = MAX [5,000 – 4,000, 0] / {5,000 – MAX[5,000 – 4,000, 0] } = 1,000 + (5,000 - 1,000) * (1 – 70%) = 2,200
[(0 * 20% * 7) / 365] + [(2,200 * 24% * 7) / 365] = 10.12 USD equivalent WLFI
