Agora Launches New Stablecoin AUSD on Injective Blockchain
Agora has launched AUSD, a stablecoin that links TradFi and DeFi on the Injective blockchain.
AUSD is a “stablecoin”. It is a digital dollar that keeps a steady value.
Every AUSD token is supported by a mix of cash, U.S. Treasury bills, and safe financial agreements.
Managed by VanEck , an asset management firm with $100 billion under its belt, and stored securely by State Street. It manages over $4 trillion in assets, and AUSD offers peace of mind for users. VanEck and State Street handle all of the assets behind AUSD, making it a dependable digital dollar option.
AUSD allows its community to work well in Injective’s various programs. Like its burn auctions and on-chain staking, which return earnings to the community. For anyone using Injective’s DeFi platform, AUSD adds another layer of stability. This will allow them to trade, stake, and lend in a currency they can trust.
7/ A new era of finance is upon us with a massively scalable stablecoin on-ramp that is native to Injective.
Read more below to learn about Agora and Injective’s shared vision of bringing the world of traditional finance on-chain. https://t.co/v7jGWJfwEV
— Injective 🥷 (@injective) October 31, 2024
With AUSD now part of the Injective network, the stablecoin is being used by important dApps. Such as DEXs and on-ramps that help people convert traditional money into crypto. These apps now have a reliable, dollar-backed asset to offer their users. This makes it easier for people to join the DeFi world without the worry of fluctuating prices.
A Growing Force in the Stablecoin Market
Although AUSD is relatively new, it’s quickly gained traction. Since it was first introduced, AUSD’s supply has grown from zero to more than $65 million, with daily trading volumes of over $15 million across networks like Ethereum, Avalanche, Sui , and Mantle. Now that it’s expanding on Injective, even more users and platforms can incorporate AUSD into their DeFi activities.
1/ Introducing the first native stablecoin on Injective: $AUSD
Backed by VanEck and custodied by State Street, @withAUSD bolsters liquidity between DeFi and TradFi markets while also providing a seamless on-ramp for Injective dApps globally. pic.twitter.com/cV480alIA7
— Injective 🥷 (@injective) October 31, 2024
By bringing AUSD to Injective, Agora has created a stable and secure way for people to bridge the gap between traditional and decentralized finance. For investors and everyday users alike, this new stablecoin might just be the ticket to exploring DeFi without the fear of unpredictable price changes.
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