What is AbraUSD?

AbraUSD is the new name for the balance of your USD stablecoins held on Abra. It is the consolidated balance of  USD Coin (USDC) and True USD (TUSD) deposits. Having these stablecoin balances consolidated under AbraUSD will make trading, deposits, withdrawals, earning interest and borrowing all easier to use and manage. 

Note that AbraUSD is not a stablecoin – it is simply the new label to show the combined balance of USDC and TUSD held in Abra. You can continue to withdraw USDC and TUSD from your AbraUSD balance at any time. USD Tether (USDT) is not impacted by this change. 

AbraUSD will launch at the same time as Market Orders (see FAQ page).

Trade

What changes will I see in the Trade wallet?

All your current USDC and TUSD holdings (and in some cases US dollar balances) will be consolidated into AbraUSD in your Trade account, at a 1:1 ratio. For example, if you had $100 in USDC, $50 in TUSD you will see $150 of AbraUSD in your Trade account. 

Are USDC, USDP and TUSD still supported assets on Abra?

Yes, USDC, USDP and TUSD are still supported on Abra. You will be able to find these assets in the portfolio list and add deposits into these assets. However, any deposits into these assets will be consolidated into your Trade AbraUSD account at a 1:1 ratio.

Am I still able to withdraw USDC and TUSD?

Yes, you can continue to withdraw USDCand TUSD from your consolidated AbraUSD balance at a 1:1 ratio. For example, if you hold $150 of Abra USD in your Trade account, you are able to withdraw $150 in any one of USDC or TUSD or withdraw any combination of these assets up to $150. In the above scenario, it doesn’t matter if you had only deposited $50 TUSD, you can still withdraw $150 TUSD. 

So you still have access to the same stablecoin you deposited when you withdraw, and can use Abra as a free mechanism for converting across USDC and TUSD anytime with zero spread.

There is no impact to your Bank ACH/wire withdrawals.

Can I still see what USDC and/or TUSD deposits I added to Abra?

Yes, you can continue to see the list of deposits and withdrawals across USDC and/or TUSD in your transaction history. To access your transaction history, you can either tap on the Abra logo at top of the app, or find Transactions in the hamburger menu on the top left of the app’s main screen.

Boost

Can I transfer my Trade AbraUSD to Boost?

Yes, you can transfer your AbraUSD from Trade into interest-generating AbraUSD in Boost. Similarly, you are able to withdraw interest-generating AbraUSD into your Trade AbraUSD at any time.

What is the impact to my current interest-generating USDC and TUSD balances?

There is no impact to interest-generating USDC and TUSD balances held in Boost. Users with existing holdings of interest-generating USDC and TUSD in Boost will continue to generate interest as they do today. When any of these assets (USDC or TUSD) are transferred from Boost to Trade, they will appear as a single consolidated balance under AbraUSD at a 1:1 ratio.

Borrow

What is the impact to my existing loan?

Your current loans will not be impacted and remain in your original loan asset (USDC or TUSD). However, any scheduled or manual interest and loan payments will be made from your Trade AbraUSD balance at a 1:1 ratio.

Can I still take out new loans?

New loans will only be available in AbraUSD with the same loan terms, collateral options and interest rates options. Interest and loan payments will be made from your AbraUSD balance in your Trade account.