This is an archive of our post on Aave governance forum. Read the full thread here.

Clarification request

We have commenced a preliminary review of AUSD but note that certain aspects of its legal design are not publicly detailed. We request that Agora provide further information on the following points:

1. What is the role of Agora Ledger Corp. (NMLS ID# 2567506) as referenced in the footer of https://www.agora.finance/?

2. How is Agora Ledger Corp. related to Agora Blue Ltd., designated as the operator of the Agora platform?

3. Is AUSD available exclusively to institutional clients, considering the prior comment regarding KYB’d onboarded customers?

4. Which regulatory frameworks apply to Agora entities? What regulatory bodies oversee AUSD, and what licenses, authorizations, or permits do Agora entities possess?

5. What is the bankruptcy remoteness design of AUSD? What assurances do tokenholders have for seamless redemption in the event of insolvency of Agora entities?

6. In which jurisdiction(s) does the custodian operate, and where is the Reserve Trust established? Please explain the entire legal structure.

Thank you for providing clarity on these important regulatory, structural, and operational aspects of AUSD, which will help ensure a thorough understanding of the stablecoin’s framework and protections.