Mint aUSD

You can use

• Acala DApp (a front-end application of the protocol) to create Acala Dollar (aUSD) from Polkadot/Acala network based collateral assets

• Karura DApp (a front-end application of the protocol) to create Acala Dollar on Karura (kUSD) from Kusama/Karura network based collateral assets

• Polkawallet - a mobile application to create Acala Dollar on both ecosystems

Users can create a Acala Dollar loan, deposit collateral assets, mint and repay Acala Dollar, track collateral asset prices, send and receive tokens, swap Acala Dollar through this application.

Prerequisites

You need to have the following ready before using the Web App to mint Acala Dollar

1. Download and use Polkadot wallet: follow the guide here

2. Have collateral assets in the wallet

3. Bridge the collateral assets to Acala (or Karura) network

   • Acala's DOT Bridge Guide

   • Karura's Inter-Kusama Transfer Guide

4. Have transaction fee tokens in the wallet: use the guide here

Mint Acala Dollar

Anyone can mint Acala Dollar by depositing an accepted reserve asset (collateral asset) e.g. DOT to create a vault/loan so called Collateralized Debt Position (CDP).

You are required to put in these parameters when minting Acala Dollar

• Select the type of collateral e.g. DOT

• Amount of the collateral to deposit

• Amount of Acala Dollar to mint

Note that the protocol does not directly record the amount of Acala Dollar minted, but records a debit unit that accounts for Acala Dollar minted plus accumulated stability fees etc.

Understand the key parameters here.

Extrinsics

This is the Extrinsics (transaction) used to mint Acala Dollar.

honzon.adjustLoan(currency_id, collateral_adjustment, debit_adjustment)

Update Acala Dollar Vault/Loan

Once you have minted Acala Dollar and created the vault, you can update it in the follow ways:

1. mint more Acala Dollar, if there's enough collateral in the vault

2. repay Acala Dollar minted (owed), this will increase current collateral ratio and reduce stability fees needed to be paid

3. withdraw collateral, only unused collateral can be withdrawn

4. deposit collateral, to increase collateral ratio (be more safe in case of huge price fluctuation of underlying asset), and/or to mint more Acala Dollar

Extrinsics

This is the Extrinsics (transaction) used to update Acala Dollar vault. The same Extrinsics is also used to mint Acala Dollar (open a vault).

honzon.adjustLoan(currency_id, collateral_adjustment, debit_adjustment)