Polkadot native stablecoin dotUSD gains 97.5% support in governance vote
Polkadot (DOT)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Polkadot’s community is voting on Referendum 1944 to create a native stablecoin called dotUSD. The proposal aims to move away from outside dollar tokens by minting an asset owned by the protocol and eventually backed by DOT. An archived Polkassembly snapshot showed 97.5% approval, with roughly 2.4 million DOT voting Aye against 59,900 Nay.
This follows a 2025 pUSD proposal that won over 75% support and secured $5.6 million in committed DOT. Co-founder Gavin Wood previously disclosed work on a fully decentralized stablecoin during the July 2025 Web3 Summit. The rollout begins with a USDT-backed phase where users mint dotUSD one-for-one against USDT.
Phase two introduces a DOT-collateralized model using vaults and a 150% collateralization ratio. Borrowers set their own interest rates, which determine their position in the redemption queue. The system uses Liquity v2’s BOLD architecture for liquidations and stability pools. Arbitrage paths help maintain the $1 peg by allowing users to mint or redeem based on price deviations.
How the market reacted
Whalio's own Binance spot order flow for DOT, measured when this story was written up on 9 September 2026. Not the outlet's figures.
DOT is trading at $1.25 with a 24-hour spot volume of $30,611,009. The 24-hour buy ratio stands at 51.8%, indicating a slight edge for buyers over the full day. However, the 1-hour buy ratio is higher at 56.3%, suggesting recent buying pressure is building compared to the 4-hour ratio of 48.9%. Volume delta reflects this shift, showing a positive $89,785 in the last hour versus a negative $108,322 over four hours. Volume delta measures the net difference between buy and sell volume, so a positive figure means buyers are more aggressive than sellers. The 24-hour cumulative volume delta is negative at -$1,134,794, indicating that despite the current uptick, selling pressure dominated the full day.
The latest daily buy ratio of 47.0% sits at the 23rd percentile of the last 324 days, against a median of 48.9% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for DOT, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.9%, making today’s 24-hour ratio of 51.8% an unusual day with 2.9 percentage points more buying activity. Spot volume was 2.93 times the weekly average, signaling significantly higher trading interest. While the 8-day volume delta was negative at -$1,110,886, the recent 1-hour positive delta suggests a short-term reversal. This follows an 8-day price change of +42.9%, showing strong momentum leading into this governance news. Only 3 of the past 7 days saw net buying, making today’s sustained buying pressure a notable deviation from the weekly trend.