Where asUSD Comes From

The Facilitator System

asUSD doesn't emerge from a single protocol—it's minted through specialized Facilitators, each serving a specific purpose with isolated risk.

Primary Facilitators

1. Astera Lend (Overcollateralized)

The Conservative Core

How it works:

1. User deposits ETH, wBTC, or blue-chip assets

2. Mints asUSD at safe loan-to-value ratios

3. Pays interest that flows to asUSD holders

4. Liquidation ensures overcollateralization

Characteristics:

• Largest capacity

• Lowest risk profile

• Generates steady 5-20% yields

• Battle-tested model

2. Liquidity AMOs (Bootstrap Facilitator)

Instant Protocol Liquidity

How it works:

1. New protocol needs liquidity for launch

2. Astera mints asUSD paired with 100% of protocol tokens

3. Liquidity locked in DEX pools

4. No circulation risk—tokens can't leave pool

Example:

New Token Launch:
- 1M tokens created
- ALL 1M paired with asUSD in pool
- No tokens exist outside pool
- Therefore: No way to sell for unbacked asUSD

Characteristics:

• Medium capacity

• Enables instant bootstrapping

• Zero circulation risk by design

• Supports Linea ecosystem growth

3. Arbitrage AMOs (Peg Keeper)

Autonomous Stability Operations

How it works:

1. Pre-minted asUSD reserves held by smart contract

2. Can ONLY interact with designated pools

3. Deposits when price > $1.00

4. Withdraws when price < $1.00

5. Never enters general circulation

Characteristics:

• Limited capacity

• Fully autonomous operation

• Minimal risk (can't leave pools)

• Profits from volatility

4. B2F Credit Lines (Coming Soon)

Protocol-to-Protocol Lending

How it works:

1. External protocols receive asUSD credit lines

2. Users borrow from those protocols

3. Protocols pay interest to Astera

4. Yield flows to asUSD holders

Example Use Cases:

• Lending markets needing liquidity

• Perpetual exchanges requiring counterparty funds

• New protocols bootstrapping TVL

Characteristics:

• Variable capacity based on risk assessment

• Higher yields (15-30% APR)

• Isolated exposure per protocol

• Scales DeFi liquidity

Global Supply Coordination

The Math of Multiple Facilitators

Total asUSD Supply = Σ(All Facilitator Levels)
Total Capacity = Σ(All Facilitator Capacities)
Available to Mint = Σ(Capacity - Level) for each

Cross-Chain Coordination (Future)

When asUSD deploys across chains:

• Each chain has local Facilitators

• Global supply tracked across all chains

• Bridging limited to prevent contagion

• Risk remains isolated per chain

Capacity Management

How Limits Are Set

Factor	Impact on Capacity
Collateral Quality	Higher quality = Higher capacity
Historical Performance	Proven strategies get increases
Market Conditions	Volatile markets = Lower limits
System TVL	Growth enables expansion

Dynamic Adjustments

Capacities aren't static—they evolve:

• Successful Facilitators: Capacity increases gradually

• Underperforming: Capacity decreases or freezes

• New Strategies: Start small, prove, then scale

• Emergency: Can pause minting instantly

Why This Architecture Matters

Traditional Stablecoins: One protocol, one risk, one point of failure

asUSD: Multiple sources, isolated risks, no single point of failure

Each Facilitator adds resilience:

• If Lending slows, AMOs continue

• If AMOs pause, Lending operates

• If experiments fail, core continues

• System gets stronger with diversity

asUSD Dashboard (coming soon)

Users will be able to verify:

• Total asUSD in circulation

• Breakdown by Facilitator

• Available capacity per strategy

• Historical minting patterns

• Risk metrics per bucket

Transparency through code, not promises.