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Polkadot's native stablecoin, dotUSD, launches under OpenGov governance.
In the past 24 hours, Polkadot (DOT) has launched dotUSD, a native stablecoin governed by the DOT DAO through the OpenGov system. This initiative aims to provide a decentralized stablecoin without a central issuer, with the initial phase allowing users to mint dotUSD one-for-one against USDT. The launch received significant community support, passing with 98.4% approval in Referendum 1944.
Key points
- The launch of dotUSD introduces a decentralized stablecoin governed by the DOT DAO, potentially enhancing Polkadot's ecosystem and attracting more users.
- The initial phase of dotUSD allows minting one-for-one against USDT, with plans for future phases to incorporate DOT as collateral.
- The launch received 98.4% approval in Referendum 1944, indicating strong community support for the initiative.
Sources
AI-generated from public news sources. Not financial advice.
