WYOMING PUTS ITS STABLECOIN RESERVES ONCHAIN WITH UNDER $1 MILLION OUTSTANDING

Summary from the TLDR Crypto newsletter

Wyoming's Stable Token Commission adopted Chainlink Proof of Reserve on September 2 as the exclusive verification layer for the Frontier Stable Token (FRNT), routing reserve and supply balances audited by The Network Firm to an onchain feed. FRNT's outstanding supply of 967,948 tokens priced at $0.9988 each represents 0.2% of the 508.7 million token base case the Commission projected to state lawmakers in December, with just $160 in 24-hour trading volume occurring on Kraken. The Proof of Reserve Secure Mint component, which would programmatically block minting without verified reserve backing, remains unimplemented. The integration is Wyoming's second Chainlink partnership in a month, following an August 18 migration from LayerZero to Chainlink CCIP that the Commission attributed to security review concerns and LayerZero's disclosure practices.