Acala Network to resume operations after burning 2.7B in aUSD stablecoin

After the mining failure involving its stablecoin aUSD, the Acala Network announced on Monday that it had resumed its operations following a referendum allowing LPs to withdraw liquidity from pools or unstake LP tokens.

In August, a misconfiguration of the iBTC/aUSD liquidity pool led to a 3.022 billion aUSD to be erroneously minted, taking its price to less than $0.01 from its dollar peg. Acala is a decentralized finance platform built on the (DOT) ecosystem.

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