๐ด No issuing company and no controlling entity... How is DOT governance managing its new stablecoin?
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๐ฐ Polkadot has officially launched dotUSD, a stablecoin fully backed by USDT in its initial phase through an on-chain price-stability module, with plans to later support issuance backed by staked DOT. The coin was approved through an OpenGov referendum with 98.5% approval, and launched with $2.5 million in liquidity from the network treasury, while DOTโs own price continues to decline despite the launch.
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โฌก LEGENDARY_007 #LEGENDARY_007
$DOT
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๐ฐ Polkadot has officially launched dotUSD, a stablecoin fully backed by USDT in its initial phase through an on-chain price-stability module, with plans to later support issuance backed by staked DOT. The coin was approved through an OpenGov referendum with 98.5% approval, and launched with $2.5 million in liquidity from the network treasury, while DOTโs own price continues to decline despite the launch.
โโโโโโโ
๐ Enjoyed the content? Like and follow
โฌก LEGENDARY_007 #LEGENDARY_007
$DOT