On May 31st, it was reported that according to the official Twitter of World Liberty Financial (WLFI), USD1 has become the exclusive designated stablecoin for the Sahara Labs community distribution event on the Buidlpad platform. This collaboration marks another innovative attempt in the cryptocurrency field, aiming to promote the development of crowdfunding and facilitate a more open, fair and accessible AI future.
USD1, as a stablecoin launched by WLFI, has attracted much attention since its debut. It is pegged to the US dollar at a 1:1 ratio and ensures the stability of its value through a strict collateral mechanism and a transparent auditing process. Its reserve assets are 100% guaranteed by US short-term Treasury bonds, US dollar deposits and other cash equivalents, and are held in custody by the regulated US entity Bitgo Trust Company. Meanwhile, with the help of Chainlink’s reserve proof technology, real-time auditing and on-chain verification are achieved, ensuring the safety and transparency of funds.
Sahara Labs has unique exploration and layout in the field of AI and is committed to developing cutting-edge AI technologies and applications. This time, USD1 has been chosen as the exclusive designated stablecoin for the community distribution event. Both parties hope to bring a more convenient and efficient experience to the participants. On the Buidlpad platform, users will be able to participate in the community distribution activities of Sahara Labs using USD1. This not only simplifies the transaction process but also effectively reduces the risks brought about by the fluctuations in cryptocurrency prices.
For the development of crowdfunding, the involvement of stablecoins can provide a more stable flow of funds and reduce the instability of funds in crowdfunding projects caused by market fluctuations. The wide application of USD1 is expected to attract more investors to participate in the Sahara Labs project, injecting strong financial impetus into its development. At the same time, through this cooperation, it can further promote the application of stablecoins in the integration of cryptocurrencies and traditional finance, and facilitate the diversified development of the cryptocurrency ecosystem.
From a more macroscopic perspective, this cooperation also helps to promote innovation and development in the field of AI. By providing stable financial support and convenient transaction methods, it can attract more outstanding developers and innovators to devote themselves to the research and development of AI technology, accelerate the progress of AI technology, and move towards building a more open, fair and accessible AI future. As the cooperation between the two sides deepens, more fields may be explored in the future, bringing more innovation and transformation to the cryptocurrency and AI sectors.
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