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 transparency and on-chain verification is a significant step forward. It addresses the trust issues surrounding stablecoins by enabling real-time auditability of reserves. Excited to see how USD₵0 performs and how this transparency model evolves.