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USD1

USD1

BitGo-issued stablecoin for World Liberty Financial. Can freeze addresses. Affiliated entities receive 75% of WLFI token sale proceeds per filed disclosures. Banking license application filed Jan 2026.

Last updated: Jan 12, 2026

1.0
Total Score

0.4 × Chain + 0.4 × Control + 0.2 × Fairness

1.8

Chain Score

Technical and economic decentralization of the chain

1.1

Control Score

Power and control structures around the protocol

0.0

Fairness Score

Launch, distribution, and governance fairness

Notes

  • *SUPPLY: $3.3B across 10 blockchain networks as of January 2026.
  • *BANK CHARTER (January 2026): WLF applied for national banking charter to establish "World Liberty Trust Company" for direct USD1 issuance, custody, and reserve management.
  • *REVENUE STRUCTURE: Trump family receives 75% of WLFI token sale proceeds. Reported $1B profit by December 2025 with $3B unsold tokens.
  • *MGX/BINANCE DEAL (May 2025): Abu Dhabi state-backed MGX used $2B USD1 for Binance investment. CZ received presidential pardon after Justin Sun invested $30M in WLF.
  • *FREEZE CAPABILITY: BitGo Trust Company controls issuance and can freeze any address (standard stablecoin model).

Chain Score

Technical/economic decentralization

A1

Nakamoto Coefficient

Number of independent entities that would need to collude to compromise the system. Higher is better.

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1.3
A2

Validator/Miner Concentration

Share of top 5 validators/miners in stake/hashrate. Lower concentration is better.

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1.0
A3

Client Independence

Number of independently developed full-node implementations. Measures resilience against single-codebase bugs and single-entity control.

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3.0
A4

Node Geography & Hosting

Geographic distribution of nodes and cloud hosting concentration. Lower cloud % is better.

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N/A
A5

Full Node Decentralization

Number of independent full nodes validating the chain. More nodes = harder to attack, better censorship resistance. For PoW chains, this is separate from miners. For PoS, validators often = nodes.

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N/A

Control Score

Power and control structures

B1

Corporate/Foundation Capture

Is there a dominant company/foundation controlling roadmap, marketing, and hiring? Can the project survive without them?

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1.0
B2

Repo/Protocol Ownership

Distribution of merge rights in core repositories (clients, specs). More distributed is better.

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1.6
B3

Brand & Frontend Control

Who owns brand, domains, main frontends, official wallets/apps? Decentralized ownership is better.

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1.7
B4

Treasury & Upgrade Keys

Composition of treasury/upgrade multisigs and admin keys. More independent signers is better.

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1.4
B5

Admin Halt Capability

Can a single entity or small group unilaterally halt, freeze, or censor the chain? This is a critical centralization risk.

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0.0
B6

Protocol Immutability

Has the protocol made fundamental rule changes (consensus mechanism, monetary policy, contentious forks)? Immutable rules are a core property of decentralization.

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N/A

Fairness Score

Launch and distribution fairness

C1

Launch Fairness / Premine

Team/VC/Foundation premine and launch model (fair launch vs. sale/IDO). Less premine is better.

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0.0
C2

Token Concentration

Share of circulating supply held by insiders (team/VC/foundation). Less concentration is better.

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N/A
C3

Governance Control

Share of governance voting power held by insiders. 100% = no token governance (team decides everything). Less insider control is better.

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0.0

Sources