Polkadot's dotUSD Stablecoin Vote Sees 97.6% Support Amid Plans for Future DOT Collateral

Polkadot's on-chain governance community is voting on the launch of dotUSD, a dollar-pegged stablecoin that could eventually use DOT as its primary collateral.

The proposal, submitted by the Polkadot Community Foundation and referred to as OpenGov Referendum 1944, aims to create dotUSD as a protocol-owned asset and designate it as Polkadot's native stable-value instrument.

So far, the proposal has received strong support with 97.6% of votes cast in favor and 2.4% against, with around 2.39 million DOT pledged in support from 31 voters.