Polkadot vs Kusama Differences between Polkadot and Kusama relay chains Many will have heard that Kusama is Polkadot’s “canarian network”
What is aUSD Token?
The Stablecoin of the Polkadot Ecosystem
aUSD is a multi-collateralized stablecoin, as the most commonly known stablecoin of this type: DAI. This means that various cryptocurrencies and tokens can be deposited into a smart contract to issue the stablecoin. The currencies that can be used as collateral to issue aUSD are the ACA, LDOT, DOT and LcDOT tokens.
Everything you need to know about aUSD stablecoin
The goal of aUSD, they mentioned through a statement on the Acala blog, is to be the most useful form of decentralized stablecoin in the Polkadot ecosystem, serving as a default pair, routing asset, and medium of exchange between all users and developers. They also highlighted that achieving these objectives, which are diverse, will lead to a flourishing ecosystem among the Polkadot parachains, as well as a strong value creation for the Acala chain, since the collateral is locked in the Decentralized Monetary Reserve.
What makes Acala (aUSD) unique and how it works?
Unlike other popular stablecoins pegged to the value of a US Dollar like USDC or USDT, aUSD is completely decentralized due to the creation of the aUSD stablecoin from blockchain assets connected to the Polkadot Network.
Thanks to the Honzon Protocol, a dynamic ecosystem of CDPs, users can mint aUSD tokens by creating a Collateralized Debt Position (CDP). In this article written by Dan Reecer (CGO of Acala and Karura) you can dive into this information.
Who created Acala & aUSD token?
The founders of Acala Network and creators of the aUSD token are Betty Chen, 0xThreeBody, Ruitao Su, and Bryan Chen.
Announcing the launch of $aUSD, Acala's decentralized, multi-collateral stablecoin 🎊— Acala (@AcalaNetwork) February 10, 2022
aUSD is the core of Acala’s DeFi economy, and will serve as the decentralized stablecoin that powers the @Polkadot ecosystem.https://t.co/z40dGvoP3W
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