Fastest growing stablecoin on @ethereum?Agora's @withAUSD, w/ market cap up +137.3% in the past 30 days. https://t.co/yRvgNEbIds ...

Core Insights - The Polkadot community is voting on a proposal for pUSD, a native stablecoin fully backed by DOT tokens, aiming to reduce reliance on USDT and USDC [1][2] - The proposal has sparked controversy due to its association with Acala, whose previous stablecoin aUSD collapsed, raising concerns about trust and governance [2][3] Proposal Details - The pUSD proposal is detailed in RFC-155 and utilizes the Honzon protocol, previously linked to Acala's aUSD project [1] - Current voting shows 74.62% in favor and 25.40% against, with an approval threshold of 80.40% [1] Community Concerns - Prominent community members have expressed opposition to the proposal, citing Acala's involvement as a significant risk [3][4] - Specific conditions for support include ensuring no Acala team members are involved and establishing oversight for governance and risk management [4] Strategic Vision - Polkadot founder Gavin Wood has advocated for a multi-track stablecoin strategy, emphasizing the necessity of a native stablecoin for the ecosystem [5] - Wood's requirements for the stablecoin include full DOT collateralization and governance control, alongside security guarantees comparable to DAI [5][6]

RT Token Terminal 📊 (@tokenterminal)ICYMI: Agora's @withAUSD is growing on @ethereum; supply up ~175% YTD, monthly senders up ~100% YTD. https://t.co/Jk3PdaQn4O ...

ICYMI: Agora's @withAUSD is growing on @ethereum; supply up ~175% YTD, monthly senders up ~100% YTD. https://t.co/Jk3PdaQn4O ...

🚨 ICYMI: Agora's @withAUSD supply on @ethereum is up by ~4x in the past month. https://t.co/f1BAqcxKFy ...