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World Liberty Financial (WLFI) has implemented an on-chain real-time proof-of-reserve system for its $4.7 billion stablecoin.
This marks a shift from the stablecoin’s monthly certification reports after a recent security breach and market panic led to a temporary break in the asset’s dollar peg.
USD1 adopts a live bond tracking system to smooth market volatility
Announced a digital currency protocol, which maintains close links with The family of President Donald Trump, announced the promotion on February 27.
The new system integrates the Chainlink operating environment to continuously pull, verify and write backup data BitGo, responsible for digital preservation.
As a result, USD1 users can now monitor the total supply, reserve support and live collateralization percentage of stablecoins on five networks, including Ethereum, Solana and the BNB Chain.
Proof of reserves in real time confirms the existence of $ 4.7 billion of Short-term US government bonds and their cash equivalents In petgo
However, industry analysts caution that the dashboard still provides limited accuracy.
The continuous data flow does not automatically reveal the immediate liquidity profile of the underlying assets during a bank attack. It also fails to protect the protocol from future vulnerabilities in its smart contracts or implementation security practices.
This is because the update comes a few days after the USD1 lost its value of $1 and temporarily fell to a low of $0.994.
Pedigree WLFI team The removal process led to a “coordinated attack”. They claim that malicious actors hacked into the accounts of several co-founders, paid influencers to create panic, and opened short positions against the protocol’s native token.
However, reliance on the “coordinated attack” narrative has drawn scrutiny. The admission that multiple executive accounts were compromised exposes serious operational security vulnerabilities in a protocol that manages billions of institutional capital.
In addition, the unprecedented political connections of the project attract High interest organization and aggressive behavior in the market, which increases risks for its security infrastructure.
Despite operational failures, USD1 appeared to have avoided a catastrophic collapse because its basic recovery mechanism remained effective.
