After the former announcement of Agora in May, the stablecoin ‘AUSD’ is currently live on Sui Network. The project reportedly adds a chief dimension to the expanding list of Sui’s native assets along with enhancing interoperability, accessibility, and utility. The platform took to its official social media account to reveal this endeavor.
The Stablecoin ‘AUSD’ Goes Live on Sui Network, Expanding the List of Its Local Assets
In addition to the announcement on X, the platform also published a blog post on Medium. It noted that AUSD has previously witnessed successes on Avalanche and Ethereum. On the respective platforms, approximately $60M worth of the stablecoin has already been minted. The integration of AUSD into the Sui Network instantly improves its accessibility, interoperability, and utility.
The integration has started enhancing market efficiency and liquidity within the rapidly growing DeFi ecosystem of Sui. At present it boasts more than $600M in its total value locked. In addition to this, it also ranks among the prominent chains in terms of per-week DEX trading volume. With this development, AUSD has become a part of the growing list of Sui blockchain-based stablecoins.
This denotes a big move in the further progress of the ecosystem. The availability of AUSD and other such stablecoins plays a critical role in driving the DeFi applications’ development. It also enhances blockchain technology’s adoption to a great extent. With the high-performance and scalable network of Sui, AUSD and the rest of the stablecoins leverage an innovation-focused environment.
The Project Offers a Seamless and Superior Developer and User Experience, Increasing DeFi Possibilities
It enables users and developers to develop superior and seamless experiences. The infrastructure of Sui pays significant attention to dealing with the technological limitations of other blockchain networks. They take into account high fees and slow transfer speeds. With the integration of AUSD into the ecosystem thereof, Sui strengthens developers to develop additionally accessible and effective DeFi applications.
Such an environment promotes creativity, letting projects expand the possibilities in the DeFi sector. Moreover, according to Sui, the integration of Agora with Sui continuously grows the AUSD’s reach, contributing to eh worldwide AUSD network’s expansion. This collaboration improves the liquidity apart from enabling AUSD’s wider use across diverse applications and platforms.
Source: https://blockchainreporter.net/sui-network-announces-the-launch-of-ausd-stablecoin/