đ” Polkadotâs dotUSD Is Liveâbut Its First Backing Is USDT, Not DOT
Polkadotâs OpenGov has approved dotUSD, and the first phase is already built and on-chain.
CONFIRMED: Referendum 1944 is marked âExecutedâ on Polkadotâs governance record. It authorizes dotUSD, a DOTâdotUSD liquidity pool on Asset Hub, and initial treasury funding.
Hereâs the detail that matters: Phase 1 lets users mint dotUSD one-for-one against USDT, subject to a cap, with redemption for USDT. The planned DOT-collateralized vaults, oracle, stability pool, and liquidation system belong to Phase 2ânot the current launch.
So despite the ânative stablecoinâ label, dotUSD is not yet backed by DOT in this first phase. The governance proposal sets out the intended later design, but doesnât give a confirmed date for Phase 2.
The takeaway: dotUSD is live in a limited USDT-backed form; its planned DOT-backed model is still ahead.
Click the $DOT widget below and check the latest developments.
$DOT
.
.
#Polkadot #Crypto #Write2Earn
Not financial advice. DYOR.
Polkadotâs OpenGov has approved dotUSD, and the first phase is already built and on-chain.
CONFIRMED: Referendum 1944 is marked âExecutedâ on Polkadotâs governance record. It authorizes dotUSD, a DOTâdotUSD liquidity pool on Asset Hub, and initial treasury funding.
Hereâs the detail that matters: Phase 1 lets users mint dotUSD one-for-one against USDT, subject to a cap, with redemption for USDT. The planned DOT-collateralized vaults, oracle, stability pool, and liquidation system belong to Phase 2ânot the current launch.
So despite the ânative stablecoinâ label, dotUSD is not yet backed by DOT in this first phase. The governance proposal sets out the intended later design, but doesnât give a confirmed date for Phase 2.
The takeaway: dotUSD is live in a limited USDT-backed form; its planned DOT-backed model is still ahead.
Click the $DOT widget below and check the latest developments.
$DOT
.
.
#Polkadot #Crypto #Write2Earn
Not financial advice. DYOR.