Acala USD Stablecoin (aUSD)

The Acala USD stablecoin (aUSD) is a stablecoin that works on the Acala Network blockchain and is tied to the US dollar at a 1:1 ratio. The aUSD currency enables the functioning of the Acala Network and is crucial to the Acala decentralized finance (DeFi) platform. Users can borrow USD after depositing cryptocurrency assets such as bitcoin (BTC), ether (ETH), or polkadot (DOT) using the Honzon stablecoin protocol’s Collateralized Debt Position (CDP).