Acala community votes to burn 2.97 billion of erroneously minted aUSD stablecoin

22 Aug 2022

Acala community votes to burn 2.97 billion of erroneously minted aUSD stablecoin

Acala community votes to burn 2.97 billion of erroneously minted aUSD stablecoinAccording to a new post by Acala Network co-founder Bette Chen, the community has voted to burn 2.97 billion worth of Acala USD (aUSD) stablecoin.Acala is a decentralized finance platform built on the Polkadot (DOT) ecosystem. The week prior, the price of aUSD fell to less than $0.01 from its dollar peg after it was discovered that 3.022 billion aUSD had been erroneously minted through a misconfiguration of the iBTC/aUSD liquidity pool, which went live on August 14.

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