The Polkadot network launched dotUSD, a decentralized stablecoin governed by the DOT DAO through OpenGov. Unlike USDT or USDC, dotUSD has no corporate entity or issuing bank behind it. The asset is managed entirely by the network. Decisions about risk parameters, collateral, maintaining the peg, and integrations are voted on directly by DOT holders using the OpenGov governance system.

Returns generated by dotUSD fees and overcollateralization can be directed straight to the Polkadot treasury to fund future development. dotUSD minimizes reliance on stablecoin issuers that could be subject to fund freezes or external regulatory pressure. $DOT