Polkadot introduced dotUSD on its mainnet, a stablecoin governed by its OpenGov system without a private issuer. The launch was approved by Referendum 1944, allocating $2.5 million in USDT for minting and $2.5 million in DOT for liquidity. Initially, users can mint dotUSD one-for-one against USDT with a supply cap and redeem it at $1 USDT. Future phases will enable minting against DOT collateral with added features like price oracles and liquidation mechanisms, marking a move towards decentralized stablecoin governance.
Polkadot's launch of the dotUSD stablecoin comes as 6 out of 50 major cryptocurrencies on Pluang rose today. For readers following the broader crypto market, here is Pluang's snapshot as of Oct 08, 2026 23:31 WIB: Chainlink (LINK) traded at Rp222.366 with a 7.45% decline and a typical hold time of 63 days, Uniswap (UNI) was at Rp130.398 down 7.39% with 65 days typical hold, and Solana (SOL) stood at Rp1.944.007, down 7.05% with a 71-day hold time. Pluang order activity showed LINK with 48% sell and 52% buy, UNI with 27% sell and 73% buy, and SOL evenly split at 50% sell and 50% buy.
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