Wyoming Stable Token Commission Implements Chainlink Proof of Reserve for Frontier Stable Token
The Wyoming Stable Token Commission has implemented Chainlink Proof of Reserve for its Frontier Stable Token (FRNT), making it the exclusive onchain verification layer. This move aims to provide transparent and verifiable confirmation that FRNT is fully backed by high-quality reserve assets.
According to the source, the total supply of FRNT tokens is 967,948, which represents about 0.2% of the Commission's projected base case of 508.7 million tokens. The outstanding supply is approximately $980,000 at a price of $0.99884 per token.
The Wyoming Stable Token Commission has adopted Chainlink Proof of Reserve as its exclusive onchain verification layer for FRNT. This move follows the Commission's decision to migrate away from LayerZero to Chainlink CCIP under a multi-year contract in August 2023.
Anthony Apollo, executive director of the Wyoming Stable Token Commission, stated that this adoption 'proves how governments can leverage the Chainlink platform to bring trusted, fully-verifiable onchain financial infrastructure into production at scale.'