JellySwap - AE Stablecoin Progress

Hello guys,

As of today, we will start the development of Aeternity Stablecoin. The idea is to have a token that represents 1 USD. I will use this topic to post regular updates on the progress.

The plan is simple, but yet effective.

  1. Build AEX9 token - AES (Aeternity Stablecoin)
  2. Build HTLC contracts compatible with Jelly Swap ->
  3. Build Jelly Swap AEX9 typescript package to allow easy development
  4. Integrate AES on Jelly Swap

The stablecoin will be backed by DAI (learn more about DAI here

Having Jelly, allows us to use everything that Maker DAO have already build, so we can use the whole infrastructure and simply expand it to be compatible with the Aeternity network.

A multisignature contract on Ethereum will hold the collateral (in that case DAI). We are considering different options about the collateral ratio e.g. 1 DAI = 1 AES or 1.25 DAI = 1 AES or 1.5 DAI = 1 AES. Maybe, we as a community may discuss on that matter?

To keep things simple, at first we (Jelly) as an entity, will mint the AES tokens. We will assure that every AES is collateralized by the appropriate amount of DAI. At any point, one can verify that the total amount of AES are in fact collateralized by the appropriate amount of DAI, since everything is on chain. We will provide a separate website to track in real time all available AES and all locked DAI in the multisig contract.

If we see a real demand on AES, we will take things further into putting more effort by “decentralizating” the minting process and keeping the collateral ratio intact. By building either a network of “operators” that will take care of that or a DAO.

So, in order to create the first AES tokens, we will put initial collateral of DAI (few thousand dollars) into the multisig contract. Once the DAI is in the contract, we will mint the corresponding amount of AES.

If one wants to acquire AES, he has 2 options:

  1. Go to Jelly and swap DAI/AE for AES.
  2. Deposit DAI into the multisig contract and receive the newly minted AES tokens.

About the progress:

  1. The HTLC smart contract for AEX9 is ready and can be found here: - tests are about to be implemented

  2. The AEX9 typescript package is being developed as we speak. You can track the progress here:

Once both of the above points are completed, we will start the integration in Jelly Swap which could take UP TO a week.

If you have any questions or suggestions, please ask them in this topic.

Best Regards,


Hey @kraykov,

It’s great to see your progress, I am very excited about the prospect of an AE stablecoin.
Please keep us updated and let us know if you need any help or support.



Awesome yes love it great work!!!


Thoughts on a stable coin pegged to the gold price? Like PAX gold?

Hey, this is my weekly report. This will include only the work done for the AES (Aeternity Stablecoin). To learn more about the progress of JellySwap follow me on Twitter, I make a report every Friday night -

  1. Our aeternity package is updated to the latest SDK version - 7.1.1
  2. Added support for AEX-2

A connecting issue using AEX2 with Waellet is reported on GitHub:

tl;dr according to our tests, the connecting process is inconsistent meaning that when you click on “Connect Waellet” on JellySwap won’t work everytime.

CORS policy error makes it hard to perform tests. Reported here:

Once the above issues are resolved - the connecting issue with Waellet and the CORS policy, the development will advance fast as everything else should be straightforward.


Nice works!

Is there a contract address of AES token?

So we can list AES token on

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Not yet, only a testnet contract. Once there is a mainnet contract I will let you know.

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Here is the first? AEX9 token to ERC20 token transaction on the testnet. This is the stepping stone for launcing AES.

Thanks to @philipp.chain and @milenradkov.chain for helping on the way.

I guess, we’ll all be able to do this on Jelly Swap really soon.


This is a great idea. I am looking forward to the breakthrough of the aeternity blockchain in the field of DeFi.

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Very exciting project. I think a stablecoin on AE is really important for adoption. I’ll be following the teams progress!



  • The AEX9 packages are updated and are integrated in both JellySwap and Butler (the market making software). Internal testing is ongoing to swap AES to DAI/AE/ETH back and forth.
  • The branding for AES is in progress - that includes logo, website and slogan

Two new issues are reported:

@AE TEAM - please help and fix those two from above for us :frowning:

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You can check this medium post to see the big picture:

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Hey guys.

Update on the progress:

Next steps:


awesome! btw i don’t understand the DAI/AES trading pair? Isn’t the idea that AES is pegged to DAI 1 to 1? Or i missed something?


Due to the fact that getting DAI out of the multisig will require some time (multiple confirmations from multiple entities) then it will be faster and more convenient to just swap the AES for DAI instead of burning and waiting to receive the DAI from the multisig :slight_smile:


Nice work!

The issues you’ve reported in waellet are fixed and we will roll a quick release with those.

Regarding token integration I guess this really depends on the apps creators themselves and their business logic if any.

If you mean native support across different wallets - I guess this can be discussed/proposed and probably implemented. :slight_smile:

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Here is the contract address:

Symbol AES

Decimals 18

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Link to the AES statistics.

Currently we have 110 AES in circulation backed by 110 DAI.

If someone wants to mint some AES you can contact me or @kraykov.

Hey, you all can mint fresh AES by depositing DAI here: - you have to specify your AE address and the amount of DAI you want to deposit.


Super, can we expect to have the update soon at least on firefox (I know that it takes some time for chrome :)).

Can’t wait to use my AES with waellet!