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This correspondence examines the number of users that can be supported at a given signal-to-interference ratio in asynchronous direct-sequence code-division multiple-access (DS-CDMA) systems. It is shown that for many chip waveforms the user capacity for asynchronous systems is larger than for optimally designed synchronous systems. The degree to which the user capacity improves by exploiting asynchrony is characterized by defining the effective dimension of the chip waveform. Finally, simulation results are shown to verify the analysis.