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Polkadot Launches USDT-Backed dotUSD

1 reports1 sourcesupdated 11 days ago

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AI-assisted source synthesis · not an independent investigation.

On October 9, 2026, Polkadot launched a stablecoin called dotUSD, describing it as an “issuerless” stablecoin. Reports indicate that in its initial phase, dotUSD is minted with an equal amount of USDT issued by Tether, meaning this phase relies on centralized reserves. To establish a liquidity pool, a governance proposal initially planned to invest $2.5 million in USDT and $2.5 million in DOT. A subsequent draft changed both amounts to $1.5 million, adjusting the total liquidity pool to $3 million.

AI-written from reports · updated 8 days ago

LatestOct 9 03:55
dotUSD has launched and is backed 1:1 by USDT in its initial phase; the liquidity pool plan has been revised to a total of $3 million.

Timeline

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Oct 9
  1. Cryptopolitan
    Polkadot launches “issuerless” stablecoin dotUSD, initially backed by Tether’s USDT

    Polkadot has launched a stablecoin it calls “issuerless,” dotUSD, but it will initially be minted against an equal amount of Tether’s USDT, making it effectively dependent on centralized reserves. A governance proposal is expected to establish a liquidity pool with $2.5 million USDT and $2.5 million DOT; a subsequent draft changed both amounts to $1.5 million, for a total of $3 million.