July 2025 Update: $1B USDf, RWA Engine, and Falcon Badges

August 7, 2025

July was another strong month for USDf and the Falcon ecosystem, with big milestones and steady growth across the board. We crossed the $1B USDf supply mark, launched on new chains, deepened DeFi integrations, and kept our community engaged with rewards, badges, and AMAs.

Here’s a quick look at what we delivered, celebrated, and learned, and where we’re headed next.

USDf & Product Updates

In just three months since going public, Falcon Finance has taken USDf from launch to over $1.1B in circulation, cementing its spot among the top‑10 stablecoins.

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USDf is now live not only on Ethereum but also on BNB Chain and XRPL EVM, and is actively traded on both DEXs and CEXs, making it more accessible than ever.

Holders can put their USDf to work by staking into sUSDf, tapping into Falcon’s yield engine for competitive returns.

Here’s a snapshot of USDf and sUSDf, covering supply, yield, and overall protocol growth.

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sUSDf, the yield‑accruing token of USDf, ranked #4 in 30‑day yield paid out (YPO) among all stablecoins on StableWatch, distributing $2.67M to stakers. It also holds the #1 spot for 30‑day APY at 11.48% among the top 10 assets.

Onchain Transparency and Reporting
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We’ve rolled out a new Transparency Dashboard, giving a clear view of what backs USDf with a full breakdown by asset type, custody provider, and percentage held onchain, verified by HT Digital. As of Aug 5, 2025:

As shared last month, HT Digital independently verifies all data shown on the dashboard, ensuring accurate and up-to-date reporting on USDf’s overcollateralization.

Coming next:

Quarterly attestation reports by Harris & Trotter LLP, following the ISAE 3000 Assurance standard, will review reserve sufficiency, data integrity, and internal controls.

$10M Raise From World Liberty Financial
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Falcon Finance raised $10M strategic investment from World Liberty Financial, the team behind the world’s fastest growing fiat-backed stablecoin, USD1.

USD1 is already accepted as collateral on Falcon. Together, we’re building a new onchain dollar standard.

To kick off USD1/USDf on BNB Chain, we launched 2 weeks of boosted Miles on PancakeSwap:

USDf Hits $1 Billion: Here’s What’s Next in Our 2-Year Roadmap

With USDf supply crossing one billion, we're entering a new phase of growth. At Falcon Finance, we started with a simple idea: unlock stable, yield-generating onchain liquidity from the assets you already hold. That idea has grown into something far more ambitious. We have unveiled our 2-year roadmap, a blueprint for building the universal collateral infrastructure that connects crypto, real-world assets (RWAs), and capital markets across both decentralized and traditional finance.

From Tokenized Assets to Onchain Utility: Falcon’s RWA Engine Goes Live

Falcon Finance launched its first live RWA mint, turning tokenized assets like U.S. Treasuries into usable collateral in DeFi.

Most RWA projects stop at tokenization. Falcon goes further by making real-world assets functional, with institutional-grade safeguards and DeFi-native composability and yield.

Falcon Miles Expansion Brings More Ways to Earn

In June we launched Falcon Miles Pilot Season. Every action counts, every Mile is earned – Mint, hold, swap, or stake USDf into sUSDf, provide LP on Uniswap, Curve, Balancer, PancakeSwap, or Bunni, and refer your friends to join the flight.

In July, we expanded to include money markets (Morpho, Silo, Euler), yield tokenization protocols (Pendle, Spectra, Napier), and yield aggregators (IPOR, Superform). Visit the Miles page to explore every action that earns Miles while taking you deeper down the DeFi rabbit hole.

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Miles leaderboard went live too, go see if you’ve racked up enough to retire. 😄

Ecosystem Growth & Partnerships

From new chain integrations to cross-platform collabs, our ecosystem took flight in July, expanding where and how USDf can be used.

Falcon Finance Adopts the Chainlink Standard to Power Cross-Chain Token Transfers of USDf
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As DeFi grows increasingly multi-chain, we believe composability and transparency are key pillars. That’s why we’re building with Chainlink, the industry standard for secure cross-chain messaging and verifiable data.

We’re also using Chainlink Proof of Reserve to support future real-time, automated audits of USDf’s collateral, adding another layer of transparency and protection as we scale.

USDf is going multi-chain, now live on BNB Chain
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BNB Chain is gearing up for the next wave of DeFi, and USDf is here to help fuel that growth with its yield‑generating, composable synthetic dollar infrastructure.

USDf is now bridgeable via Interport Finance, powered by Chainlink CCIP, making it easy to move USDf seamlessly between Ethereum and BNB Chain.

Enjoy secure, reliable cross‑chain transfers for your USDf.

frxUSD × USDf Pair Live on Curve Finance
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frxUSD × USDf pair is now live on Curve Finance. Triple stack your rewards:

First, LP to earn CRV plus up to 40x Falcon Miles, deposit here.

Next, vote to farm both FXS and USDf incentives on the Stake DAO votemarket.

Finally, boost on Convex Finance or Stake DAO to earn even more CRV.

Community & Campaigns

Growing alongside our community has been one of the most rewarding parts of what we do. We’ve stepped up efforts to engage and reward Miles earners and ecosystem contributors through new campaigns and initiatives.

Falcon Badges
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Falcon Badges are now live! It gives you a new way to celebrate, share, and showcase your progress across the Falcon Finance ecosystem. Whether you're minting USDf, LPing, stacking Miles, or simply holding, your efforts now earn visible recognition.

Falcon Badges are digital achievements that appear on your Falcon profile. They track key milestones and showcase your journey across DeFi with USDf.

In our Yap2Fly campaign, you will see that badges aren’t just for show but also unlock special rewards in tiers.

Media Engagement & AMAs

This month, Falcon Finance leaders weighed in across various crypto and finance media outlets, offering perspectives on the regulatory and market forces shaping digital assets. From U.S. policy debates to EU tokenization rollouts, their insights highlight Falcon’s role in today’s most relevant industry conversations.

U.S. Politicians Can’t Stop Talking About Crypto – Here’s Why That’s a Good Thing

In a comment to ZyCrypto, Andrei Grachev, Managing Partner at Falcon Finance, said:

The GENIUS Act provides the clarity in regulatory guidelines needed to usher stablecoins from niche and trading use cases into more mainstream institutional infrastructure. Already this year, corporate stablecoin pilots are underway, with Circle’s USDC ballooning nearly 39 %, from $44 billion to almost $61 billion since January 2025. This surge clearly shows the demand for digital dollar rails. Without exemptive relief and sandbox frameworks, we risk stalling integration and innovation amid global adoption.

On the same topic, he told Benzinga:

Imagine building a stablecoin protocol only to face retroactive scrutiny based on shifting political winds. Without a unified vision, challenges include fragmented compliance requirements that raise operational costs, deter cross-border collaboration, and stifle innovation in areas like on-chain lending. Investors might pull back from U.S.-centric projects, favoring jurisdictions with clearer paths, while businesses risk talent flight to less hostile environments.

U.S. Risks Falling Behind as Asia and EU Push Ahead With Tokenization

In a comment to CoinCheckup, Lingling Jiang, Partner at DWF Labs and Falcon Finance, noted:

Capital and talent flow to places that embrace regulated innovation. For example, places like Hong Kong, Singapore, the UAE, and EU are now rolling out tokenization frameworks. Blocking tokenized equity pilots in the U.S. means ceding leadership.

EU Users Can Now Trade Tokenized Equities: What to Know

In a comment to Finbold, Grachev said:

The technology is live. Robinhood’s EU tokenized equity launch includes 200+ U.S. stocks and ETFs, trading 24/5 with zero commissions, triggering a 13 % stock price gain. Globally, we also see Kraken and Coinbase rolling out similar programs. These tokens are fully backed, settle on‑chain with audit trails, and resolve real‑world inefficiencies — but frameworks must evolve to recognize infrastructure upgrades over regulatory evasion.

Experts: Access to 401(k) Capital Could Cement Crypto’s Entry Into Mainstream Financial Infrastructure

Gaining access to the U.S. retirement market would be a major turning point, signaling formal recognition of digital assets by the American establishment. As Grachev explained to Bitcoin.com News:

Retirement portfolios are built around long-term trust, not short-term risk. For crypto to be considered in that context already reflects a shift in perspective, suggesting that parts of the industry are maturing into real financial infrastructure.

From Tokenized Treasuries to Yield-Bearing Stablecoins: Falcon's Roadmap to Onchain Economic Utility

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Key takeaways from Andrei’s Cryptic AMA on building a new collateral infra that blends RWAs with onchain yield:

How to get the most out of your Falcon Miles?

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In this AMA, XY from our DeFi Partnerships team explained how to earn through DeFi money markets, yield tokenization, and aggregator protocols.

Missed it? No worries, we’ll be hosting more X Spaces and AMAs in the coming weeks to guide you through.

Hop into our Discord if you haven’t already. Our friendly mods are there to help you get settled and guide you every step of the way!

What’s Next?

In August, we’re launching our biggest campaign yet: Yap2Fly, a first-of-its-kind program that rewards both mindshare through Kaito and Miles activities from onchain product usage. Whether you're minting USDf, staking, swapping, or simply talking about Falcon, every action counts.

We’re just getting started, we keep shipping, and we’re glad you’re flying with us. 🦅

July 2025 Update: $1B USDf, RWA Engine, and Falcon Badges