Acala Network to resume operations after burning 2.7B in aUSD stablecoin By Cointelegraph
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After the mining failure involving its stablecoin aUSD, the Acala Network announced on Monday that it had resumed its operations following a referendum allowing LPs to withdraw liquidity from pools or unstake LP tokens.
In August, a misconfiguration of the iBTC/aUSD liquidity pool led to a 3.022 billion aUSD to be erroneously minted, taking its price to less than $0.01 from its dollar peg. Acala is a decentralized finance platform built on the (DOT) ecosystem.
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After the mining failure involving its stablecoin aUSD, the Acala Network announced on Monday that it had resumed its operations following a referendum allowing LPs to withdraw liquidity from pools or unstake LP tokens.
In August, a misconfiguration of the iBTC/aUSD liquidity pool led to a 3.022 billion aUSD to be erroneously minted, taking its price to less than $0.01 from its dollar peg. Acala is a decentralized finance platform built on the (DOT) ecosystem.
Continue Reading on Coin Telegraph