How to Get aUSD Stablecoin for Acala Mandala Testnet
aUSD (or AUSD) is the native stablecoin for the Polkadot ecosystem. Let’s dive straight right in on how to get some fake aUSD for testing purposes.
This tutorial is get fake aUSD for Polkadot wallet. View my other tutorial on how to get aUSD for your MetaMask wallet
Prerequisites
- Polkadot wallet such as Polkadot{.js} extension
1. Convert DOT test tokens to aUSD test stablecoin
To get DOT test tokens, join Acala Discord and go to #acala-test-faucet channel and enter the command below.
!drip <your Polkadot{.js} extension wallet address>You will get ACA, DOT and KSM tokens in one drip. You’ll need some ACA test tokens to pay for gas later.
2. Use your DOT test tokens to mint aUSD
Go to https://apps.mandala.acala.network/ and connect your Polkadot wallet. Then, click on Mint aUSD as shown below.
Then, click on Getting Started button.
Next, you need to set your DOT tokens as collateral for your aUSD. It will be overcollateralized. So, the screen below shows a overcollateralization of 200% meaning for the value of DOT in USD, you only get half of value in aUSD. For instance, if 2 DOT tokens are worth USD20, you will only get aUSD10. Then, click Next.
On the next screen, set the amount of aUSD you need. In the screenshot below, I set it to aUSD17. Then, click Next.
Finally, confirm the transaction. FYI, you need some ACA test tokens to pay for gas (aka stability fee).
Mission accomplished! You should now have aUSD in your Polkadot wallet. Below shows the final results.
To learn more about the terms like collateral ratio, liquidation fee and more, click here.
