Mangata Finance and Acala have agreed to a partnership to use aUSD as the stablecoin of choice for our currently launching Kusama DEX. aUSD will be positioned as the default stable option for liquidity pools on Mangata X. The MGX-aUSD liquidity pair especially will act as an attractive staking option in our revolutionary Proof-of-Liquidity mechanism.

What is aUSD?

aUSD is a decentralized, multi-collateralized stablecoin backed by cross-chain assets, serving as the native stablecoin for the Kusama and Polkadot ecosystem. aUSD is designed to maintain a peg relative to the US Dollar, allowing users to transact, trade, and facilitate services using aUSD while shielding users from price volatility customary to the crypto asset economy.

aUSD on Mangata X - An economic gravity center

Stablecoins are an incredibly valuable option for DEXes, giving traders the opportunity to trade back and forth between volatile and risk-off crypto assets. The most important liquidity pairs are often blue-chip tokens like KSM, DOT, ETH, and BTC paired with stablecoins. While crypto is inherently risky, the crypto space has found a way to create stability by offering users the option to use stablecoins as safe havens in volatile times and bear markets. Acala’s $250 Million aUSD Ecosystem Fund lays the groundwork for growth and liquidity in the Polkadot and Kusama DeFi ecosystems, which will act as one of the main ingredients for kickstarting Kusummer ‘22. We want to position MGX and aUSD as the two economic gravity centers of the Mangata X ecosystem, providing liquid and stable options to trade ALL tokens available in Kusama, Ethereum, and beyond.

MGX-aUSD - A Proof-of-Liquidity Powerhouse?

As our Proof-of-Liquidity mechanism will invite deep liquidity while simultaneously securing Mangata X against front-running, any asset paired against MGX could become a viable option for staking. At the same time, we recognize that many liquidity providers seek a stable option, which is why we think MGX-aUSD could become one of the most attractive options for Proof-of-Liquidity staking. With MGX-aUSD, users can stake once, earn twice, and enjoy limited downside risk.

We anticipate aUSD’s integration into our Kusama DEX will provide a safe, reliable trading alternative to prevalent volatile crypto assets. Hedging risk and maintaining yield is a core aspect for traders and Mangata’s integration of aUSD as the primary stablecoin and asset routing mechanism for our ecosystem provides a recognized and liquid option for our community members.

How to integrate aUSD and receive funding

If you’re a team interested in building a project that drives yield or utility of the aUSD stablecoin within the Polkadot and Kusama ecosystem, you can apply for funding from the $250M aUSD Ecosystem Fund.

About Acala

Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD (aUSD), is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate.

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About Mangata

Mangata is a next-generation DEX that makes tokens from all ecosystems tradable on a single exchange. It features gasless swaps, prevents front-running and MEV without additional fees and secures the network with the revolutionary proof-of-liquidity consensus. As a Layer 1 app-chain, it is not bound by legacy restrictions and can optimize from the ground up for capital efficiency and fairness. Mangata X is THE upcoming Kusama DEX that broke records when closing its crowdloan within 50 minutes.

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