World Liberty Financial officially launches the $WLFI token staking governance proposal,

the community can now vote on Snapshot to decide whether to enable the staking feature to incentivize token holders to participate in project governance.

This is interesting!

I feel that the WLFI model is very similar to the old BNB.

I personally think the initial value logic of $BNB was that it represented shares in the exchange system + usage rights + profit-sharing rights,

if you want to gain: trading fee discounts, Launchpad allocations, expected long-term profits from the exchange, and ecological resources, you must hold / lock BNB.

The latest design of WLFI actually resembles this logic a bit: wanting to become a Node requires staking a large amount of $WLFI, and the core rights that a Node possesses are:

a stablecoin USD1's 1:1 mint/redeem channel

that is:

USDC → USD1

USD1 → USD

when USD1 > $1

a Node can mint and then sell for arbitrage

when USD1 < $1

a Node can buy and then redeem for arbitrage

this is essentially the role of:

market makers / Authorized Participants in the stablecoin system.

If this system really runs,

$WLFI is fundamentally not an ordinary governance token.

Rather, it is more like:

"seating assets" in the stablecoin system.

Holding / locking WLFI = acquiring a certain privilege channel in the financial system.

Of course, there is only one real variable in this: whether USD1 can be truly used in the market.

If there are no exchange / DeFi / OTC scenarios, then WLFI is just a governance token.

But if USD1 scales up, then the logic of WLFI will transition to: equity in the stablecoin system.

So I think what everyone should be more concerned about is not the price of WLFI, but whether USD1 will become the next large-scale stablecoin?

If so, then the story of this matter may just be beginning.

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