wlfi trades at 0.67x its usd1 stablecoin supply. every other stablecoin governance token trades at 0.1-0.3x. abu dhabi deployed $500m for 49% ownership and usd1 hit $5b market cap in 10 weeks. the token's down 15.8% today on macro selling not fundamentals. that ratio closes to 1.5x or collapses to 0.2x. no middle ground when sovereign wealth owns half the protocol. ...