Saw this on Cryptopolitan: Polkadot’s mainnet launched its native stablecoin dotUSD on 10/8. OpenGov referendum 1944 passed with approximately 98.5% approval.
Phase 1: USDT can be minted/redeemed at a 1:1 ratio, with a supply cap; there are currently no oracles, treasury, or liquidations. The referendum approved about $2.5 million in USDT + $2.5 million in DOT for initial liquidity (a later update may reduce that to about $1.5 million each).
The narrative is “no issuing company, governance on-chain,” but the reserves are currently USDT, so the freeze pathway remains. Only in Phase 2 is DOT-collateralized minting planned; the date is yet to be determined.
$DOT #Polkadot #稳定币 #dotUSD
Phase 1: USDT can be minted/redeemed at a 1:1 ratio, with a supply cap; there are currently no oracles, treasury, or liquidations. The referendum approved about $2.5 million in USDT + $2.5 million in DOT for initial liquidity (a later update may reduce that to about $1.5 million each).
The narrative is “no issuing company, governance on-chain,” but the reserves are currently USDT, so the freeze pathway remains. Only in Phase 2 is DOT-collateralized minting planned; the date is yet to be determined.
$DOT #Polkadot #稳定币 #dotUSD