Polkadot Community Votes on Protocol-Native Stablecoin Proposal

A proposal for a protocol-native stablecoin called dotUSD has gone live for community vote on Polkadot's OpenGov platform.

The proposal was drafted by community members across the Polkadot ecosystem and submitted through the Polkadot Community Foundation, which will not deploy or control the stablecoin.

The proposal includes two phases: an initial phase where dotUSD is minted and redeemed through an asset-backed module with a capped supply, and a second phase that introduces a token-collateralized vault system.

According to early estimates, funding for the proposal could reach around $5 million, split between USDT and DOT.