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:
User deposits ETH, wBTC, or blue-chip assets
Mints asUSD at safe loan-to-value ratios
Pays interest that flows to asUSD holders
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:
New protocol needs liquidity for launch
Astera mints asUSD paired with 100% of protocol tokens
Liquidity locked in DEX pools
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 asUSDCharacteristics:
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:
Pre-minted asUSD reserves held by smart contract
Can ONLY interact with designated pools
Deposits when price > $1.00
Withdraws when price < $1.00
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:
External protocols receive asUSD credit lines
Users borrow from those protocols
Protocols pay interest to Astera
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 eachCross-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
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.
Last updated