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.