The state of Wyoming is expanding its partnership with Chainlink to provide near-real-time, onchain verification of the reserves supporting its Frontier Stable Token (FRNT), the official stable token issued by the state.
The Wyoming Stable Token Commission has adopted Chainlink Proof of Reserve, following its move in August to transfer FRNT from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Wyoming is among a growing number of organisations to make that transition, with $15bn in onchain value having moved from LayerZero to CCIP.
The Commission said Wyoming already goes beyond the transparency requirements set out in the GENIUS Act. However, it said the new Chainlink system would offer more frequent visibility of FRNT’s backing by combining independent reserve examinations with automated verification recorded onchain.
“Wyoming has consistently led the nation in advancing responsible digital asset innovation,” Anthony Apollo, Executive Director of the Wyoming Stable Token Commission, said in a statement. “By adopting Chainlink Proof of Reserve as Wyoming’s exclusive onchain asset verification infrastructure, we’re providing transparent, verifiable confirmation that the Frontier Stable Token is fully backed by high-quality reserve assets. This strengthens trust in FRNT while establishing the highest standard for transparency in public-sector digital assets.”
Under the arrangement, The Network Firm will review FRNT’s reserves and token supply in line with standards set by the American Institute of Certified Public Accountants (AICPA). Chainlink Proof of Reserve will then publish verified information about those reserves onchain in near real time.
Wyoming said the two-part approach was intended to narrow the information gap between formal reporting periods. It is also designed to give regulators, financial institutions and other market participants greater confidence that FRNT continues to be fully backed by its reserve assets.
The Commission is also working to introduce Chainlink Proof of Reserve Secure Mint. If adopted, the feature would require verified reserves to be equal to or greater than the total supply of FRNT before additional tokens could be created.
The system is designed to reduce the risk of so-called infinite-mint attacks, in which an attacker or faulty process creates an unlimited number of tokens. It would also provide cryptographic confirmation that newly issued FRNT tokens are supported by reserves.
FRNT launched in January as the first stable token issued by a U.S. state. It is backed by U.S. dollars and short-term U.S. Treasuries. Revenue generated by those reserve assets is intended to diversify Wyoming’s state income and support its School Foundation Program.
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