Referendum #1944 on Polkadot proposes creating dotUSD, a US dollar-pegged stablecoin that has garnered massive support with 97.5% of voters approving, representing 2.31 million DOT in favor versus only 59,900 opposing votes. The proposal allocates $5 million in initial liquidity, split evenly between $2.5 million in USDT for minting the stablecoin and $2.5 million in DOT for a liquidity pool. dotUSD would be an over-collateralized stablecoin primarily backed by DOT, Polkadot’s native token, and would become the default stable-value instrument across the ecosystem, reducing dependence on third-party stablecoins like USDT and USDC. This marks Polkadot’s second attempt at a native stablecoin after pUSD, which had secured over 75% support earlier in 2025 but ultimately did not launch.
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