kUSD Upgrade to aUSD on Karura Network
Ended 1y 11mos ago
closed
Description

This is the first implementation step of the proposal “Uniting Acala & Karura to Support DotSama with aUSD Together”.

Changes in this implementation proposal

  1. On-chain TokenRegistry pallet support for all native tokens including kUSD/aUSD. The TokenRegistry already supports non-native tokens (e.g. parachain assets like RMRK, MOVR, TAI) with metadata like Token Name, Token Symbol and Decimal Places
  2. SDK support for kUSD change to aUSD (token symbol and related changes)
  3. Karura DApp stablecoin related changes: kUSD change to aUSD (symbol, name, logo etc)
  4. Karura DApp swap related changes: kUSD change to aUSD (symbol, name, logo etc)

Note: the currencyId (in a way equivalent to Smart Contract address on chains like Ethereum) will remain the same on-chain, and the token name and symbol change will be made in the on-chain TokenRegistry. You can think of it as USDC when issued on Ethereum would have a different contract address as USDC issued on another blockchain, but both are USDC.

Actions Required from Integrators
All parties integrating with kUSD shall update their software accordingly to reflect the token name and symbol change, which can be queried from on-chain TokenRegistry or using SDK.

Actions Required from Users
None.

Expected Golive Date
Estimated 6th Apr 2022 0200 to 0300 UTC

Optionssingle

Votes·76

te6A...ytFc
te6A...ytFc
te6AR2pTKjZMLcy7bhjgXuYvpKDvENEW1Cb5GgnNi3uytFc
Yes
# 1
1.42K KAR
rCYo...brb6
rCYo...brb6
rCYo7f3QndBBggbrYgCxMuy1USv6Y2ZNkgpkvtLGPa4brb6
Yes
# 1
1.39K KAR
sZhJ...MKXX
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Yes
# 1
15.15 KAR
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qkzc...o55D
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Yes
# 1
36.78 KAR
tYYo...AnpP
tYYo...AnpP
tYYoEf9dwTG8AcisEDSuYQiwUiSq3zE4fm3vKsRY81yAnpP
Yes
# 1
164.38 KAR
spcz...nGXJ
spcz...nGXJ
spczu3ert2QeTKAmP3LvLzXXmxwQVszPisCQNEmHXS3nGXJ
Yes
# 1
3.06 KAR
ofVQ...pbgE
ofVQ...pbgE
ofVQ3Gx2vsdsiFryYcw1VUMynbunSiTt4ydgjePwbUipbgE
Yes
# 1
2.42 KAR
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rNoZCG6Ed4MCSFST2ZR94N3svRQDMCoHdRCFAtzvjsNqrRX
Yes
# 1
65.26 KAR
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sCpf...SfDD
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Yes
# 1
22.14 KAR
good
tZiy...nEkZ
tZiy...nEkZ
tZiyU6yMtPXEr3xDGBEgCnPwA7WiEZYqKBkWsZasT9snEkZ
Yes
# 1
2.54 KAR
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s7e2...ptb2
s7e2xb6rdhDFF3ApgJargq77zmF9kNmWCaGCVcX51eJptb2
Yes
# 1
0.57 KAR
Will simplify the trading between Dotsama and Kusama
qPwM...Krx3
qPwM...Krx3
qPwMfokfsJCDPwqvvS8ZmMDhjkRh9jNozCUbhnjYEgsKrx3
Yes
# 1
6.63 KAR
qiB6...4eUB
qiB6...4eUB
qiB6abkv1rSYAMBu1KARgC6Y6WHgzaNwLv8SD8qunTN4eUB
Yes
# 1
1.09 KAR
qJoZ...iuJT
qJoZ...iuJT
qJoZKFYb7HbswAyjQ9UxuxdnBZxJ6nuEAqu5chocvjyiuJT
Yes
# 1
0.1 KAR
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s2G3...W9Xh
s2G3TSX1AfeWGxvyqXurxdzUciK8zC53KtpiQiTFM34W9Xh
Yes
# 1
196.75 KAR
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pDXi...oAWp
pDXiEc4qGNScseU2FnBDRCvajjTQR6Zk69Rxn4D8w9aoAWp
Yes
# 1
6.35 KAR
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rwM5...Ps6n
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Yes
# 1
131.15 KAR
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tCg3...HxJx
tCg3Cv9tDExrVktrMEuRsn2vGtqB3D4NisVHrYSg6LxHxJx
Yes
# 1
4.22 KAR
Necessary
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pUr9...WR68
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Yes
# 1
0.93 KAR
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pkjM...jH5R
pkjMeoxhtbAbK2q78jrp2g3kVpo5VwgNaLtMZTyitNZjH5R
Yes
# 1
4.26K KAR
oXxS...D9s4
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Yes
# 1
201.15 KAR
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rqEwdsDPjHyXecMG3j7hc1HgXb6MQPoQJy7gRjbtVLaE775
Yes
# 1
44.04 KAR
Necessary
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tc41LK5FdEaPk6NbmP8FJDhFURerVhNKp4CaVV7AE58kHzm
Yes
# 1
31.87 KAR
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thQq...44T9
thQq99yv84gFhiydaFdyCvsz4zDR1zaDMYrHUNaF8as44T9
Yes
# 1
92.71 KAR
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pSLY...ghrC
pSLYy1XMWdBfjxWYDboReLuB6wKSd4hpbQTixWyJnGKghrC
Yes
# 1
1.68K KAR
qJMQ...ZEhi
qJMQ...ZEhi
qJMQiCnkC62MUxiNwfqTAmVhp87T8gCsGURzmkvogUmZEhi
Yes
# 1
880.52 KAR
p8c9...duSe
p8c9...duSe
p8c9A7AiHhQHWm9fhaXNHcvgz9nLCNb1wZoEEKZRRjuduSe
Yes
# 1
24.24 KAR
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sNp5...KVJG
sNp5PjKjGj75E2tUaMSbSKAx3vjhb4oDWzgxRkhcR8tKVJG
Yes
# 1
334.85 KAR
tEpw...MzWV
tEpw...MzWV
tEpwHCMKXBY3sRkrg9KjqJfo2C76V3hN9hdrGsoUM3xMzWV
Yes
# 1
1.82 KAR
qDWh...yUMq
qDWh...yUMq
qDWhfQ3FU4C7a5JQVqaYhDj3m4EHV39JGEwdu7pJ9Z2yUMq
Yes
# 1
6.06 KAR
qDaf...Yed4
qDaf...Yed4
qDafaHtryfiBdsDFDxa7qdSmyGnuaXmzWrbYm7ZtPVsYed4
Yes
# 1
19.94 KAR
qfuM...BEoi
qfuM...BEoi
qfuMx21j4wTL3fTtwGFq4urphJqxTjPap64HM5RnfraBEoi
Yes
# 1
3.02 KAR
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rCja...uChb
rCjaxVMDvZJ9JnMYrcouXTtF4b5P5qb6BmvKNqUX5NeuChb
Yes
# 1
132.31 KAR
I think it's a great idea to strenghten the aUSD protocol with Acala/ Karura, and compete with others blockchains stable coins. Is it possible to use only aUSD for the entire Polkadot ecosystem? THX
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pA7v...sXuP
pA7vPcT2uYB3oHJSGrLX3V1Ek1Vgz2ULNKrShBYGpJmsXuP
Yes
# 1
109.9 KAR
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qyxtWwdRvPLe1x2FccJk47dZ3AhaE1ZkzTYCsDus7UjenvP
Yes
# 1
0.32 KAR
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qWyD...X3YV
qWyDTjAVZhcvZKPzw4m3v3B4Fqw21U1BtF7H8J98wuzX3YV
Yes
# 1
39.13 KAR
so28...nqnf
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so28ihYZgKEMZL59vqpbk2a8CBdmSNPmoVbpG7bU49onqnf
Yes
# 1
1.93 KAR
rcHC...sAoo
rcHC...sAoo
rcHCfwCZ4b8srefFTitvuvdjvE5v5LYEGqE9PTsQ7ERsAoo
Yes
# 1
3.07K KAR
q8Rh...M3Uh
q8Rh...M3Uh
q8Rh2YAnzpNuFLZkfvPKu9oDjrnCtimYDvJAZ9Q4hNoM3Uh
Yes
# 1
2.16K KAR
poaf...puy2
poaf...puy2
poafoAmVAHJYQ84U8ADTFJSGEFWSpBXjjw9jqHzAdPjpuy2
Yes
# 1
28.61 KAR
t158...VKDz
t158...VKDz
t158LqrXEFybzWu6TDWuBNntccxvAkRYiJvrwzV1mBCVKDz
Yes
# 1
22.89 KAR
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tbb3...uBQz
tbb3USFL9Wv4bZtt6qxaJaVrK4ii16qGs7B5uw1tXqcuBQz
Yes
# 1
2.22 KAR
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q9sR...7UXc
q9sRX2rDG9XYUDfkJNAWPUdXrT3Hy2jsnCTgP1UvLR87UXc
Yes
# 1
6.37 KAR
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qo7A...QEus
qo7AFWFkLNooSB86T6pGKhXVd7MXXiYjBwK49ze3nKiQEus
Yes
# 1
1.39K KAR
prDx...JcXk
prDx...JcXk
prDxjMyp8eVzMrp373BqKyzaWtavABn3ehFN8U2NnYZJcXk
Yes
# 1
120.45 KAR
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sFh2...YLqV
sFh2pNBGitemqfpPYNNfRvjB5eUptRqXmg99h9y4QavYLqV
Yes
# 1
28.12 KAR
tCJY...TBVG
tCJY...TBVG
tCJYMftMGYkbDwFmj5v4RYBHxMSUM6qA76MAr24T9zKTBVG
Yes
# 1
67.25 KAR
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tCVf...xnqZ
tCVfc7nXrNGQverEbg4caEGMm9bvvVkrHm7qTvCooPPxnqZ
Yes
# 1
0.1 KAR
perfect
rhRD...6cdM
rhRD...6cdM
rhRDiMEM7depusQxmnMBrsMpHhJ7q1pwi3FT1KkwMsJ6cdM
Yes
# 1
361.5 KAR
pikX...bfzq
pikX...bfzq
pikXCsCjs1pGDyer1v72Wsc74LZwthhVgHs8TyTDzbQbfzq
Yes
# 1
889.15 KAR
1
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Discussions·2

1y 11mos ago

How is this working on a technical level to keep both tokens on the same exchange rate if they diverge between the two parachains?

1y 11mos ago

This is a two step process

  1. Upgrading the token on the Karura chain (which is this implementation)
  2. Launch a bridge between Acala and Karura, and also an aUSD merger pallet that ensures aUSD coming from Karura is **fungible 1:1 ** to aUSD on Acala, and vise versa.
  • This essentially means, when you mint 1 aUSD on Karura, you can use the aUSD to pay off some debt on Acala, so as to trade or LP in any aUSD pools on Acala, and vice versa
  • The aUSD price provided by the decentralized exchanges on Acala and Karura, however, may not be the same, as aUSD price is determined by the supply and demand. The same can be expected if aUSD is on any other parachain and any other DeX/CeX.
  • This is a great thing, as it creates multiple markets for aUSD and arbitrage opportunities, which will help the peg as well as liquidity. Right now there're already arbitrage bots running on Karura/Acala, as more trading venues for aUSD become available, there will be more arbitrage opportunities
1
Information
Snapshot
Assets(1)
KAR
x1
Timestamp
Created
Mar 30 2022 06:55
Start date
Mar 29 2022 11:00
End date
Apr 05 2022 12:00
Results
Voted
21.16K KAR
Voters
76
balance-of
Yes
21.16K KAR
No
0 KAR
quadratic-balance-of
Yes
774.91 KAR
No
0 KAR
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