Wyoming Stable Token Commission Taps Chainlink Proof of Reserve

The Wyoming Stable Token Commission has taken a significant step in ensuring transparency and trustworthiness of its stablecoin, Frontier (FRNT). On September 2, it adopted Chainlink's Proof of Reserve verification layer for FRNT, publishing reserve and supply balances onchain. This move is part of the Commission's effort to provide verifiable confirmation that FRNT is backed by high-quality reserve assets.

The total supply of FRNT is approximately 967,948 tokens, which represents only about 0.2% of the 508.7 million tokens projected as the base case by the Commission in a December budget-session factbook. The token has seen a relatively low trading volume of $160 in the past 24 hours, with all transactions occurring on Kraken.

Anthony Apollo, executive director of the Wyoming Stable Token Commission, emphasized that this adoption 'provides transparent, verifiable confirmation that the Frontier Stable Token is fully backed by high-quality reserve assets.' This move is seen as a strengthening of trust in FRNT while setting a new standard for transparency in public-sector digital assets.