Recently, a USD stablecoin project called USD1 has attracted market attention. The team behind this project is quite interesting—the founding team includes US political figures, and the project has received strong political endorsement. Family members serve as Web3 ambassadors, and within the entire team structure, key decision-makers are entitled to 75% of the project's net income, which is considered a very tight interest alignment in the crypto space.

From a technical security perspective, USD1 claims to be 100% backed by US short-term Treasury bonds and US dollars in cash. This reserve scheme is managed by the leading global digital asset custodian BitGo. Additionally, a professional auditing firm, Crowe LLP, has verified the reserve structure. The advantages of this arrangement are obvious—it completely avoids the systemic risks associated with algorithmic stablecoins' "death spiral," making it a fully collateralized scheme.

The project's market positioning is also very clear. It is not targeting retail investors but is focused on institutional-grade application scenarios—such as sovereign funds and large financial institutions. This creates a differentiated competition with the mass-market positioning of USDT and USDC. The token is initially launched on both Ethereum and Binance Smart Chain, with the core application scenario being cross-border compliant transactions.

Let's look at the current market performance data. The market cap has reached $3.051 billion, with both circulating and total supply at 30.46 billion USD1, meaning the token is fully circulating with no locked portions. The trading volume has reached $1.768 billion, which results in a volume-to-market cap ratio of 57.93%, indicating good market activity. The trading depth is better than many small to medium-sized stablecoins.

In terms of price, the current quote is around $1.0018, maintaining a very stable peg. Taken together, these data reflect that the project has a decent level of market recognition in its early stages. High transparency of reserves, secure custody, and sufficient liquidity all contribute to the stable performance of the token price.