Polkadot's native stablecoin dotUSD is officially launched, managed by the on-chain governance mechanism

Polkadot officially announced that the stablecoin dotUSD has officially launched on the Polkadot network. This stablecoin does not have a single issuing company or controlling entity, but is managed by the DOT DAO through the OpenGov on-chain governance mechanism.

Polkadot stated that the goal of dotUSD is to become a native stablecoin governed by the network itself, thereby reducing reliance on centralized issuing institutions.