Crust Shadow Integrates aUSD as the Default Stablecoin for Parachain Storage Fee Payments
Crust Shadow Integrates aUSD. CrustNetwork excited to announce that through the Kusama XCM channel, aUSD users can store orders under the Crust Shadow network!
Crust Shadow the pioneer network of the decentralized storage project Crust Network. It won the 19th Kusama parachain slot auction and was awarded the parachain ID 2012. At present, the storage function of Crust Shadow has been officially enabled.
CSM token the native token of the Crust Shadow network. In April, Crust and Karura enabled the transfer of CSM to Karura through the Kusama XCM, and launched the CSM/aUSD trading pair on Karura Swap. At the end of July, the Crust Shadow Council passed the proposal to enable transfers in aUSD. Now, thanks to XCMP, CSM and aUSD can send mutual transfers on Crust Shadow and Karura.
aUSD a decentralized, multi-collateralized stablecoin backed by cross-chain assets, serving as the native stablecoin for the Kusama and Polkadot ecosystem. aUSD is designed to maintain a peg relative to the US Dollar, allowing users to transact, trade, and facilitate services using aUSD while shielding users from price volatility customary to the crypto asset economy.
aUSD’s use case in Crust Shadow
Crust Network currently has 2300+ nodes, with a total of 950+PB storage capacity. The Crust Shadow network is able to undertake user storage orders and store user data in the Crust Network. Last week, the Crust Shadow Council passed the proposal to transfer aUSD to the Crust Shadow network.
In addition to using CSM, users can also use aUSD to pay for storage fees. For the first 6 months, the network set to place 1,000 storage orders per 1 aUSD. Paying storage order fees is one of the main functions of the CSM and CRU tokens, which also provides aUSD users new usage scenarios and further promotes the prosperity of the Polkadot ecosystem.
About Crust Network & CSM
Crust Network a versatile, purpose-built storage blockchain that delivers truly decentralized file storage and hosting capabilities for the entire Web3 ecosystem, empowering privacy and data ownership. Crust Network enables dApp hosting, NFT metadata storage and encrypted file storage across a wide range of blockchains.
The Crust Shadow a “Kusama version” for Crust Network, it won the auction for the 19th parachain slot and was award the parachain ID 2012. CSM token the native token of Crust Shadow Network.
Acala a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD (aUSD), is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate.