Official news, AstridDAO, a multi-collateralized stablecoin project of Astar Network and Polkadot DOT -2.05% ecosystem, announced that it will be launched in mid-April, and will launch the USD stablecoin BAI and the protocol token ATID.
Users can deposit risky assets including ASTR, BTC -0.24%-news/">BTC, ETH, DOT, native assets of other parachains to borrow BAI.
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ATID can be used to generate veATID tokens, which are used to capture fee income generated by the system, incentivize early adopters, manage the protocol in a DAO fashion, etc.
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