What is Acala USD Stablecoin (aUSD)?

The Acala USD stablecoin (aUSD) is a stablecoin that is pegged to the U.S. dollar on a 1:1 ratio that operates on the Acala Network blockchain. aUSD facilitates the Acala Network's operation and is essential to the Acala decentralized finance (DeFi) platform. Users can borrow aUSD after they deposit cryptocurrency assets such as bitcoin (BTC), ether (ETH), or polkadot (DOT) through a Collateralized Debt Position (CDP) from the Honzon stablecoin protocol.