On the Anchor protocol, the aUST token is used for savings deposits. Upon depositing some UST into Anchor, users are automatically given aUST tokens, which can be used to generate income using the Anchor platform. This is called minting of aUST tokens. When user withdraws UST deposits from Anchor, aUST held in users wallet is burned and the UST tokens are returned.
The follow chart shows the aUST minted on Terra Blockchain for the past 90 days.
Abracadabra introduced UST Degenbox strategy on November 3rd. This strategy allows users to use UST deposit and leverage them up to 10x to get 100% APY. The 100% APY is generated by Abracadabra with the help of Anchor deposits. When a user deposits UST to Abracadabra, 90% of those UST tokens are deposited to Anchor protocol. This process mints aUST and the minted aUST is bridged back to Ethereum network. Through leverage process, these aUST tokens are deposited into Abracadabra to borrow more UST and deposit them to Anchor. This is carried out in a loop for upto 10x to produce 100% APY.
As you see in the chart, the number of aUST tokens minted has increased since November.