Polkadot Launches USDT-Backed dotUSD Under OpenGov
Polkadot has launched the USDT-backed dotUSD stablecoin under OpenGov, with roughly 2.77 million tokens in circulation and DOT-backed borrowing planned for a later phase.
Polkadot has introduced dotUSD, a stablecoin backed by USDT and launched under OpenGov, according to The Defiant.
The stablecoin’s total supply stands at approximately 2.77 million tokens. Its initial backing uses USDT rather than Polkadot’s native DOT token.
Borrowing against DOT is planned for a subsequent phase. The report excerpt did not provide a timeline for that expansion.
Source: The Defiant
