Wyoming Puts Its Stablecoin Reserves Onchain With Under $1 Million Outstanding

The Wyoming Stable Token Commission has implemented Chainlink Proof of Reserve as the exclusive on-chain verification method for the Frontier Stable Token (FRNT). This move was announced on September 2 and involves publishing reserve and supply data that has been examined by The Network Firm to a publicly accessible on-chain feed. The total supply of FRNT is approximately 967,948 tokens, representing about 0.2% of the 508.7 million tokens projected to the Wyoming state legislature as a base case. This development signifies Wyoming's efforts to enhance transparency and trust in its state-backed stablecoin by leveraging decentralized oracle technology to provide real-time reserve verification.