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.

Exciting development! Plasma's approach to transparency with USD₵0 could set a new standard for trust in stablecoins. On-chain audits and public multisig reserves are crucial steps towards building a more accountable crypto ecosystem. Looking forward to the XPL sale and the potential impact on DeFi and stablecoin markets.