DeFi lending welcomes a new player. A crypto project mainly supported by a well-known family officially launched its lending platform "World Liberty Markets" on Monday, focusing on lending services for its own USD stablecoin USD1.

The technology is supported by the DeFi protocol Dolomite. The market reaction was very direct after the announcement—Dolomite's native token DOLO surged immediately, skyrocketing 57% within 24 hours; meanwhile, the project's governance token WLFI also gained popularity, rising 4.8% in two hours.

The platform supports a relatively diverse range of collateral options. In addition to USD1 itself, users can use WLFI, ETH, wrapped Bitcoin products from a well-known platform, as well as mainstream stablecoins like USDC and USDT. However, since it just launched, liquidity is still shallow. The annualized interest rate for borrowing USD1 is only 0.83%, and the lending yield is just 0.08%. These figures suggest the platform is still in the exploration stage.

The project team considers the launch of this lending platform a milestone for the real-world application of USD1, aiming to see what new innovations this stablecoin ecosystem can bring.