> For the complete documentation index, see [llms.txt](https://novaratio.gitbook.io/aeroscraper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://novaratio.gitbook.io/aeroscraper/whitepaper/summary-of-whitepaper.md).

# Summary of Whitepaper

The Aeroscraper whitepaper outlines a decentralized finance (DeFi) system focused on the generation and management of a stablecoin called AUSD. Here's a summary of the key points:

1. **AUSD Generation**: Users can mint AUSD stablecoins by opening a Vault and depositing collateral (SEI, INJ tokens) at a minimum collateral ratio (MCR) of 115%. This means for every $11,500 worth of collateral, a user can mint up to 10,000 AUSD. The AUSD tokens are freely exchangeable and can be burned to repay debts or through direct redemption.
2. **Price Updates and Liquidation**: The system uses a decentralized data feed to update the SEI, and INJ to USD prices regularly. Vaults that fall below the MCR of 115% are considered under-collateralized and subject to liquidation to ensure the protocol's solvency and the peg of 1 AUSD to $1 USD worth of collateral.
3. **Motivation**: Aeroscraper aims to provide SEI and INJ token holders a way to leverage their holdings without selling, by minting AUSD as an interest-free loan against their tokens. The protocol addresses the need for a decentralized stablecoin alternative in the blockchain ecosystem, which is predominantly occupied by centralized options.
4. **Key Benefits**:
   * **0% Interest Rate**: Borrowers don't accrue interest on loans.
   * **115% Minimum Collateralization Ratio**: Allows for efficient use of collateral.
   * **Governance-Free**: Operations are algorithmic and fully automated, and the protocol's parameters are set at deployment.
   * **Direct Redemption**: 1 AUSD can be exchanged for $1 USD worth of SEI, INJ at any time.
   * **Decentralization**: The protocol is immutable, has no admin keys, and is non-custodial, making it censorship-resistant.
5. **Ownership and Upgradability**: The Aeroscraper protocol is immutable, meaning it has no owner or operator and cannot be upgraded or changed after deployment.
6. **Audit**: The protocol is undergoing an audit by Beosin, with a full report to be made public upon completion.

Aeroscraper introduces a user-friendly and capital-efficient method for borrowing decentralized stablecoins, emphasizing its immutable, governance-free, and non-custodial nature.

<br>


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://novaratio.gitbook.io/aeroscraper/whitepaper/summary-of-whitepaper.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.