1/10 Tether claims it's backed. Circle publishes audits.
But can you actually verify what backs your stablecoin?
@PlasmaFDN thinks you should, and built a chain for that.

🧵 What is Plasma, and why it matters for Bitcoin. https://t.co/fn8ueVL2Yd

2/10 Plasma is launching USD₵0 , a Bitcoin-backed stablecoin with onchain audit and public multisig reserves.

The XPL sale is starting soon.

This isn't a critique of existing stablecoins: it's a new take on transparency.

Plasma's approach to launching USD₵0 with on-chain audits and public multisig reserves is a significant step towards enhancing transparency in the stablecoin market. This innovation could set a new standard for accountability, giving users more confidence in the backing of their assets. The focus on verifiable reserves is crucial in a space where trust is paramount. Looking forward to seeing how this evolves!