saUSD Minting

saUSD is a yield-bearing stablecoin minted when users deposit aUSD into the default yield pool. It represents a proof of deposit and automatically accumulates yield over time.

• Depositing aUSD into the default pool mints an equivalent amount of saUSD.

• Depositing aUSD into other yield pools (via YieldHub) does not return saUSD. Instead, deposits are recorded directly, and whether LP tokens will be introduced for those pools is subject to future community governance.

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Minting Process

• Issuance: Users deposit any amount of aUSD, and the protocol mints an equal amount of saUSD on-chain.

• Yield Accumulation: While holding saUSD, users automatically benefit from the underlying pool’s yield.

• Transferability: saUSD can be freely transferred and traded between users.

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Pricing Mechanism

The value of saUSD is transparently calculated as:

saUSD Price = Total aUSD in Default Pool / Total saUSD Supply

This ensures that saUSD reflects the net asset value of the default pool.