AUSD

AUSD is a US dollar stablecoin issued by Agora, minted one-to-one against fiat dollars held in reserve. It is designed around institutional-grade infrastructure, with a large global custodian bank safeguarding the assets, a big four accounting firm auditing them, and a top tier asset manager handling the reserve portfolio.

That separation of roles is the core of the design. The issuer does not hold the reserves itself, the party managing them is not the party auditing them, and the custodian is an established bank rather than a crypto-native institution. This structure addresses the concentration of responsibility that has historically been the main weakness in stablecoin issuance.

Distribution model

Agora's approach differs from most issuers in how it treats reserve yield. Rather than retaining interest earned on reserves entirely as company revenue, the model shares it with the partners and applications that distribute the token. This gives exchanges, wallets, and protocols a reason to integrate AUSD rather than a competing stablecoin, which is an unusual approach to bootstrapping distribution.

The token is also designed to be gas efficient, which the issuer positions as making it cheaper to transact with than alternatives, a factor that matters at high transfer volumes.

Supply and availability

AUSD has no fixed maximum supply, with roughly 215 million tokens outstanding, changing with issuance and redemption. It is available across a broad set of networks including Ethereum, Solana, Avalanche, Polygon, Arbitrum, and BNB Chain.

As with any fiat-backed stablecoin, the questions that matter are reserve composition, attestation frequency, and who can redeem directly with the issuer, all of which are published in the issuer's own materials.