Currently, we have three synthetic assets:
- tDOT on Polkadot
- tKSM on Kusama
- 3pool(3USD) on Kusama
tDOT is a unified liquidity standard for staking and crowdloan DOT derivatives backed by a liquidity pool composed of native DOT and DOT derivatives (ie. DOT-LDOT) on Acala.
tKSM is a unified liquidity standard for staking derivatives backed by a liquidity pool composed of native KSM and KSM derivatives (ie. KSM-LKSM) on Karura.
3pool is the first stablecoin pool powering the Kusama ecosystem composed up of aUSD, USDC, USDT on Karura.
- Maintains the underlying effective yield of LDOT/LKSM and standardizes the process of yield aggregation and distribution amongst tDOT/tKSM holders
- Liquidity for traders to trade between DOT-LDOT and KSM-LKSM
Let's use tDOT as an example:
All tDOT will be minted on Acala as it serves as the primary DeFi hub on Polkadot. The Acala ecosystem has an abundance of use cases and economic value for tDOT as it holds a significant amount of Staking DOT and Crowdloan DOT.
The composition of tDOT is designed to support any DOT-xDOT asset pairs. For more architectural details, please read here.
- Stable Asset system can be deployed as a Substrate pallet or EVM module across different Parachains
- tDOT is backed by DOT-DOT derivative liquidity pools (ie. DOT-LDOT, DOT-lcDOT)
- tDOT accrues yield and swap fees from the underlying liquidity pools
- tDOT minter function is deployed on Acala, which serves as the hub for minting tDOT
- XCM enables the transfer of tDOT across parachains