I haven't checked in a while and found that Falcon's stablecoin USDf has also surpassed 1 billion. I've always felt that USDf is like a yield version of USD1..

WLFI investment, initially supports Ethereum and BSC just like USD1; managed by DWF, profits come from funding fee arbitrage, cross-exchange arbitrage, and on-chain yields, currently around 9% annualized; staking is required to enjoy the yields, with a staking rate of ~30%.

The minting method of USDf is quite interesting, as it is open to retail investors and supports minting by collateralizing some alt-assets, such as TRUMP DOLO MOVE SEI, most of which are supported by assets from WLFI. The richness of collateral assets makes it easier for DWF to generate profits, lol.

Upon closer inspection, there are quite a few large addresses that have just been lying around after minting. For example, on July 28th, there was a net minting of 410 million USDf (accounting for over 1/3 of the total supply), driven by a few addresses minting large amounts. To this day, it still lies in wallets, which might also be a way of offering benefits to retail investors to some extent. After all, with over a billion USDf, even counting historical holders, it only amounts to a scale of just over 6k.

Currently, the supported protocols for USDf are Pendle, Morpho, Euler, and some DEX, and the distribution channels still need to be expanded.

It's not easy, it took a long time, but finally tonight I'm adding the data: