ADADAO is a DeFi protocol on Cardano blockchain which facilitates creation of fully collateralized stable coins leveraging Native Cardano Assets. We are starting with ADA tokens only but the governance can decide on addition of more assets as and when required.
ADADAO functions as a DAO (Decentralized Autonomous Organization).
AUSD is the stablecoin generated using this protocol. ADAO is the utility and governance token which allows users to decide how the protocol functions and also gives them a share of the fees raised through the protocol.
The ADADAO foundation is taking care of the initial development of the project and plan to gradually offload its duties to the governance.
ADAO and AUSD are Cardano Native Tokens and users need to have a supported Cardano wallet to be able to receive it. They will also be able to trade the token in various exchanges.