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On April 13th, according to Arkham data, World Liberty Financial (WLFI) today minted an additional 25 million USD1 tokens through BitGo Custody, and also burned 3 million tokens via the TokenGovernor contract, resulting in a net increase of 22 million USD1 in circulation.
The amount minted this time is exactly the same as the loan amount WLFI claimed to have repaid a few days ago. Previously, WLFI had used a large number of governance tokens as collateral to borrow stablecoins on the DeFi lending protocol Dolomite, causing the USD1 lending pool on that platform to approach 100% utilization, preventing other depositors from withdrawing normally.
WLFI did not disclose the reasons for the burn or the specific use of the newly minted tokens.