Wyoming's Stable Token Commission has adopted Chainlink's Proof of Reserve to give the state-backed stablecoin FRNT near-real-time on-chain reserve verification. The decision follows FRNT's full migration from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP) in August, with CCIP now serving as the stablecoin's exclusive cross-chain infrastructure. The Network Firm will review FRNT's reserves and token supply under standards set by the American Institute of Certified Public Accountants. Chainlink's Proof of Reserve then pushes verified data on-chain at near-real-time intervals, reducing the information gap between audit reports and confirming that FRNT remains fully backed. The commission also plans to deploy Chainlink's Secure Mint feature, which requires verified reserve assets to equal or exceed the total FRNT supply before new tokens are minted, a safeguard meant to prevent unlimited mint attacks. Launched in January, FRNT is the first stablecoin issued by a U.S. state government, and its backing consists of U.S. dollars and short-term Treasury bills.
On Sept. 2, the Wyoming Stable Token Commission announced it has adopted Chainlink's Proof of Reserve to provide near-real-time on-chain reserve verification for FRNT, the state's official stablecoin.
The move follows the commission's August decision to migrate FRNT entirely from LayerZero to Chainlink's Cross-Chain Interoperability Protocol, or CCIP, and to make CCIP the stablecoin's exclusive cross-chain infrastructure. Under the new system, The Network Firm will audit FRNT's reserves and token supply in line with standards set by the American Institute of Certified Public Accountants. Chainlink's Proof of Reserve publishes verified data on-chain on a near-real-time basis, shrinking the information gap between separate audit reports and confirming that FRNT continues to maintain sufficient backing.
The commission also plans to use Chainlink's Secure Mint function. With that feature, new tokens can only be minted once verified reserve assets equal or exceed the total FRNT supply, guarding against unlimited mint attacks.
FRNT went live in January. It is the first stablecoin issued by a U.S. state government and is backed by U.S. dollars and short-term Treasury bills.
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