The Polkadot community is moving toward launching a native stablecoin, pUSD, backed entirely by its DOT token. PUSD aims to address past shortcomings and provide the network with a fully collateralized, decentralized stablecoin by focusing solely on DOT as collateral. “This would be expected to be the NATIVE stablecoin for Polkadot Asset Hub, reduce/replace dependence on USDT/USDC including OpenGov DOT-USDC/USDT stablecoin conversion process,” the proposal stated. Meanwhile, Polkadot’s push for a native stablecoin comes at a critical juncture in the development of the blockchain network. Polkadot Stablecoin Market Cap.