With all the talk about depegs, let’s clarify what alUSD actually is and how it works 👇 $alUSD is not a stablecoin. When you deposit USDC into the Autonomous Liquidity USD (alUSD vault), the vault mints alUSD — your tokenized vault shares. Each alUSD share represents a proportional claim on the vault’s underlying USDC deployed in yield strategies. When you withdraw, you return (burn) alUSD, and the vault gives you back USDC based on the current price per share. Price per share is influenced by strategies performance: ➡️ If strategies are earning yield, alUSD's value increases against USDC (e.g. currently 1 alUSD = 1.0294 USDC). ➡️ If strategies have negative returns, alUSD's value against USDC decreases. ➡️ If yield is flat, alUSD value does not change. The vault’s autonomous algorithmic strategy continuously optimizes for risk-adjusted performance, running fully on-chain and maintaining fully liquid positions. It only alocates into pools, so it never borrows itself (no recursive loops). Everything is fully verifiable on-chain: vault data, yields, transactions, strategy allocations, and vault permissions are all transparent and accessible directly from the vault page. Vaults are non-custodial and permissionless, giving users full control and visibility at all times. No peg. No illusions. Just transparent yield reflected in the share price. Secondary market prices don’t affect users. You can always withdraw directly from the vault at the true value, with no slippage or price impact. alUSD vault = risk-adjusted performance, not a peg /\