CrustNetwork
Published in

CrustNetwork

Crust Shadow Integrates aUSD as the Default Stablecoin for Parachain Storage Fee Payments

We’re excited to announce that through the Kusama XCM channel, aUSD users can store orders under the Crust Shadow network!

Crust Shadow is 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 is 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 overview

aUSD is 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 is 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.

Follow Crust Twitter or join the Crust community to get the latest Crust news and chat with our community developers!

About Crust Network & CSM

Crust Network is 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. Crust Network currently has 2300+ nodes and 950+ PB of storage capacity. Experience our applications Crust Files and our upcoming Crust NFT!

Crust Shadow is a “Kusama version” for Crust Network, it won the auction for the 19th parachain slot and was awarded the parachain ID 2012. CSM token is the native token of Crust Shadow Network.

Website | Twitter | Wiki | Telegram |GitHub | Facebook | Discord

About Acala

Acala is 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.

Linktree | Discord | Website | Twitter | GitHub | Wiki | Newsletter | YouTube

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Crust Network

Crust Network

CRUST implements the incentive layer protocol for decentralized storage, and vision to building a decentralized cloud ecosystem.