StellaSwap Partners with Acala to Bring aUSD into Moonbeam
We are proud to announce a partnership with Acala, one of the largest parachians on Polkadot! Acala is a decentralized finance network powering the Acala USD (aUSD) ecosystem. Its core product, aUSD, represents an over-collateralized, decentralized stablecoin built as the native stablecoin of all of Polkadot.
Actualizing Polkadot’s vision of of interoperability via cross-chain messaging (XCM), this partnership marks an important milestone between the largest parachains within the Polkadot network: Moonbeam <> Acala. As the largest DEX on Moonbeam and Polkadot, it is important for StellaSwap to facilitate the adoption of substrate-native assets.
Emphasis on Substrate-Native Assets
The recent exploit on Nomad has strongly molded StellaSwap’s approach towards a core focus on substrate-native assets.
We need to focus on substrate-native assets via cross-consensus messaging (XCM), in order to mitigate against bridge risks as well as enriching the Polkadot ecosystem as a whole. This entails focusing on cross-(para)chain assets listings, as well as adoption of strategic native assets like aUSD from Acala.
- Atticus, StellaSwap’s Co-Founder
aUSD is Coming to Moonbeam
StellaSwap is excited to facilitate inter-parachain synergies between Moonbeam and Acala. Cross-chain synergies via XCM opens up a world of usecases that are predicated on ease and security. There are two core synergies with Acala on Moonbeam;
- aUSD — GLMR Farm Launch (Transfer aUSD using this XCM guide)
- Inclusion of aUSD into StellaSwap’s stablecoin basepool
The adoption of aUSD has grown at a steady rate since its inception at the start of the year. To date, the cumulative TVL for aUSD stands at;
aUSD Farm Launch
A good chunk of StellaSwap’s community, as well as those within the Polkadot ecosystem, have been asking for aUSD on Moonbeam. That is why this represents an exciting launch for us.
Here are the details for aUSD farm launch coming up tomorrow;
⭐️ Farm Launch: aUSD— GLMR
⭐️ Bridge: Native XCM Transfer (Moonbeam’s XCM Portal | Guide to bridge aUSD via XCM)
⭐️ Farm Type: Multi-Rewards
⭐️ Reward Token: STELLA + GLMR + ACA
⭐️ Launch Date: 10 August| 14:00 UTC
⭐️ Daily Emissions: 3,829 STELLA + 1,045 GLMR + 2,709 ACA
You can start bridging your aUSD tokens via XCM through Moonbeam’s application here, in preparation for the farm launch.
Inclusion of aUSD in Stable Basepool
On top of that, we’re excited to finalize aUSD as one of the stablecoins that is guaranteed a spot in StellaSwap’s core basepool. More details would be announced on our basepool relaunch down the line.
First Use-Case of aUSD on Moonbeam: Athos IDO
We’re excited to also share with you that aUSD will be the primary currency on Athos IDO, which will resume for launch soon! Due to the Nomad exploit, we had to postpone our IDO plans and reconfigure core details such as the primary currency for fundraising, which was initially set to USDC.mad. Given thatNomad assets have been depegged, Athos has decided that aUSD would be the primary currency for their IDO.
We fully support this plan and we believe that leveraging on native assets like aUSD is vital in fostering a secure and interoperable future for Polkadot. More information regarding the dates of Athos IDO would be announced soon!
Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD, 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. Karura is Acala’s sister parachain to serve the Kusama ecosystem and shares the same codebase as Acala.
StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders, while continuing to innovate on the collective foundations by design.