The Wyoming Stable Token (WYST) is a stablecoin proposed by the state of Wyoming, designed to represent and be redeemable for a U.S. dollar held in reserve by the state. It is currently in a testing phase on seven blockchains: Avalanche, Solana, Ethereum, Arbitrum, Optimism, Polygon, and Base. Its official launch is expected to occur in July 2025.
Main features of WYST
102% backing: Each WYST token will be backed by a combination of cash, U.S. Treasury bonds, and repurchase agreements, with a coverage requirement of 102%.
Economic uses: The interest generated from the reserve assets will be allocated to fund public services such as education and infrastructure in Wyoming.
