#WYSTStablecoin
*Introducing WYST: The Wyoming Stable Token*
WYST is a groundbreaking stablecoin developed and issued by the state of Wyoming, poised to become the first state-backed stablecoin in the United States.
*Key Features:*
- *Backed by Reserves:* WYST is fully backed by US dollars and short-term US Treasury bonds, with a minimum capitalization of 102%.
- *Stable Payment Option:* Provides a stable, blockchain-based payment solution.
- *Launch Date:* Planned launch in July 2025.
- *Multichain Deployment:* Available on various blockchains, including Avalanche, Solana, Ethereum, and more.
*Partnership and Benefits:*
- *Issuance Partner:* LayerZero collaborates on the project.
- *Education Fund:* Interest earned from backing assets supports Wyoming's education fund.
- *Redemption:* WYST is redeemable for one US dollar held in trust by the state.
*Current Status:*
WYST is currently in multichain testing, expected to continue until Q2 2025.
*Potential Impact:*
The launch of WYST may significantly impact the stablecoin landscape, introducing a publicly issued stablecoin.