AvawareUSD — A 99% backed native stablecoin on Avalanche
So we’ve been farming for awhile, it’s kind of our thing. And one thing we’ve realized is people love to farm with stables. AUSD is the farmers stable. 99% backed in the contract. Mint/Redeem at anytime with a 1% fee.
Avaware users will be able to mint AUSD at a rate of 1:1 with either USDT.e or USDC.e at first. Then we can add more as well such as DAI.e, AVAI, Teddy and more partnerships could be made. They can then farm for any period of time and redeem anytime they like. Rewards can be paid in AVE on new market pairs like AUSD/USDT.e LP, AUSD/AVE LP.
This model would create swap fees & open arbitrage opportunities between markets and the decentralized exchanges we build on. These benefits alongside farming promote a healthy market pair.
This will be a great step in the right direction for the DAO model we intend to encompass. Governance will be able to vote on treasury usage, supported stables, emission rates, & more.
We’re looking at bringing AUSD to life within Q4. We have the infrastructure in place to incentivize the stable pairs. Updates will be announced through our twitter.