One-to-one, always
Circulating supply equals reserve held. Mint adds to both, redemption removes from both.
How AUDD Works
One dollar in, one AUDD out.
AUDD is fully collateralised by Australian dollars held in reserve. When a dollar is deposited with the issuer, one AUDD is minted. When AUDD is redeemed, the token is burned and the dollar is returned at par. The supply on-chain always matches the reserve held on trust. No leverage, no lending, no algorithm holding the peg together.
The lifecycle of an AUDD
- Deposit
An approved client sends Australian dollars to AUDC, the regulated issuer, through a licensed on-ramp or a named virtual account.
- Mint
AUDC mints AUDD one-to-one against the deposit and delivers it to the client's wallet on any of the eight supported chains.
- Use
The client moves, pays or settles in AUDD, around the clock, with on-chain finality and reconciliation built in
- Redeem
The client returns AUDD to the issuer. The token is burned and the matching Australian dollar is paid back at par, on demand.
How the reserve is held
Every AUDD in circulation is matched by an Australian dollar in reserve, held as high-quality liquid assets as defined by the Bank for International Settlements, in cash on trust for AUDD holders. They are never re-hypothecated and never lent out. William Buck independently attests the reserve, and has done so since August 2024.
On trust, ring-fenced
Held in cash on trust for holders, separate from the operating company, not available to creditors.
Independently attested
Verified by William Buck since August 2024. The SOC audit is performed by a tier-one audit firm.