USDf, introduced by Falcon Finance, is not merely another generic stablecoin. Led by the DWF Labs team and supported by WLFI Capital, it operates as a multi-asset collateralized synthetic liquidity protocol. The protocol integrates market makers’ hedging and arbitrage strategies into its stablecoin design and utilizes an over-collateralization mechanism with structured yield distribution. Additionally, it plans to connect with real-world assets (RWA), aiming to create a universal financial layer that allows seamless asset entry and withdrawal.