aUSD Stablecoin

Inspiration

At present, stablecoins in the cryptocurrency domain can be categorized into three types: Fiat-Collateralized stablecoins, Cryptocurrency-Collateralized stablecoins, and Algorithmic stablecoins. Stablecoins generally differ in terms of the assets backing them, collateral ratios, issuance mechanisms, and price maintenance mechanisms. While various stablecoins may be suitable for different application scenarios, they all share one common shortcoming: the lack of interest income.

What it does

aUSD is a yield bearing stablecoin. It is a Liquid Staking tokens backed stablecoin (backed by stETH, ETH) offering interest to holders of aUSD.

How we built it

Given the requirements of the hackathon, we were required to build frontend using BOS components on near. It was not most challenging task but testing of components and not having worked with such infrastructure took a little time for us. Overall our experience working with BOS was good but there are still scope of improvements to make local setup much easier so that import feature can be tested for components in local IDEs.

Challenges we ran into

Initially it was difficult to understand the working of a collaterialized stablecoin. After researching and learning from docs and some of the projects, we finalized what we were going to build.

Accomplishments that we're proud of

The contracts and oracles are developed from scratch

What we learned

We learned about Near and BOS components. It was great learning new technologies

What's next for aUSD Stalecoin

The roadmap for improving our project and our vision is to convert this to fully functional credit lending platform with LSD backed stablecoin. Hope to get support in acheiving this vision for our project :)

Built With

• bos
• github
• javascript
• near
• react
• remix
• solidity