Aave SUSD v1 ASUSD

Aave SUSD v1 refers to the version 1 of the aToken for the Synthetix USD (SUSD) asset on the Aave protocol. It is a token that is minted and burned upon supply and withdraw of SUSD assets to an Aave market. The value of Aave SUSD v1 is pegged to the value of the corresponding supplied SUSD asset at a 1:1 ratio. Aave SUSD v1 can be safely stored, transferred, or traded. Additionally, all yield collected by the Aave SUSD v1 reserves are distributed to Aave SUSD v1 token holders directly by continuously increasing their wallet balance.

Aave SUSD v1 is unique compared to other cryptocurrencies because it is an aToken that represents a specific asset, which is SUSD (Synthetix USD). It is minted and burned upon supply and withdraw of SUSD to the Aave market. The value of Aave SUSD v1 is pegged to the value of the corresponding supplied SUSD at a 1:1 ratio. Additionally, holders of Aave SUSD v1 tokens receive the yield earned on the supplied SUSD directly by continuously increasing their wallet balance. This feature sets it apart from other cryptocurrencies as it allows users to earn passive income on their holdings.