Gate launches USD1 savings product with up to 8% annual yield for holding USD1

According to official sources, Gate launched the USD1 savings product on July 29 at 00:00 (UTC+8). During the event, users can earn rewards simply by holding USD1 in their asset accounts, with a minimum holding of 1 USD1 and a maximum annual yield of 8%. Rewards will be distributed daily in WLFI to eligible users. The annual percentage yield (APY) will be dynamically adjusted daily based on the remaining reward budget and total effective USD1 holdings on the platform, with updates around 14:00 (UTC+8) each day. In addition, the reference on-chain staking APY for USD1 is currently 6.89%, offering users diversified yield options.