Add AUSD Acala USD as Stable

Acala Usd AUSD is a stable that can be minted in acala network.In order to be minted a collateral is needed in Dot or Acala token.Since its a polkadot parachain its easy to be used in other polkadot chains like Moonbeam. I think a polkadot stable is better to be used in the Polkadot ecosystem, easy secure transfers through Moonbeams Cross Chain Assets eliminates the risk of a hack.We all saw what happened with NOMAD hack, we could have avoided this with AUSD.AUSD had some issues but the team brilliantly solved them and the peg is coming back.The possibilities for the eosystem will be huge as security will be higher, and if moonwell offers supply and borrow in AUSD like USDC.mad i believe the liquidity will skyrocket.

1 Like

Hi BOETHIUS10. Thanks for starting this discussion.

It would be fantastic to see support for new markets, such as Acala’s aUSD, on Moonwell. Typically, when deciding what assets to support, there must first be sufficient liquidity on DEXs (roughly $5m liquidity). This allows the protocol to liquidate positions efficiently without high slippage. We are not there just yet. Hopefully in the not too distant future community confidence in aUSD can be restored and liquidity increases.