The WYST Stablecoin is making waves! 🌊 Wyoming is set to launch its own stablecoin, WYST, in July, making it the first US state to issue a digital token.¹ ² ³
Aamir_017
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#WYSTStablecoin The WYST Stablecoin is making waves! 🌊 Wyoming is set to launch its own stablecoin, WYST, in July, making it the first US state to issue a digital token.¹ ² ³ This stablecoin will be pegged to the US dollar and backed by cash, US Treasuries, and repurchase agreements, with a capitalization requirement of at least 102%.
*Key Features:*
- *Multichain Support*: WYST will be supported on multiple blockchains, including Ethereum, Solana, Avalanche, and others.⁴ ⁵ - *Over-Collateralization*: The stablecoin will be over-collateralized with cash and US Treasuries to reduce the risk of de-pegging. - *Interest Benefits*: Interest from Treasuries will be deposited into Wyoming's school foundation fund.
*Partnership and Development:*
Wyoming has partnered with LayerZero to develop and issue WYST. The stablecoin is currently in its testing phase, with a potential launch in July 2025.
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