Avalon Labs has partnered with Merlin Chain to launch $USDa, a new Bitcoin-backed asset designed to transform decentralized finance (DeFi). The collaboration brings Avalon Labs’ vast Bitcoin liquidity to Merlin’s platform, with promises of 20%+ yield generation and an 8% fixed borrowing rate for $USDa. This move is a major step towards bringing Bitcoin into the DeFi space and connecting traditional and crypto finance.
Avalon Labs Makes Earning Easy with $USDa and High-Yield Options on Merlin Chain
Merlin Chain, which is a Layer 2 network built for Bitcoin, is the most suitable for this kind of business. To that end, Merlin envisions to combine ZK-Rollups, decentralized oracles, and on-chain BTC fraud-proof modules to enhance the use cases of the Bitcoin network as well as increase user experience. At the center of Merlin is $MERL for the purposes of governance, security and growth of the entire network.
It is easy to use $USDa to engage in transactions on Avalon Labs. Users can exchange USDT for $USDa and lock up the tokens to receive a 20% to 50% return on investment. It is also possible to swap $USDa or its staked version, sUSDa, to the Merlin Chain for the generation of more yield through DEXs, lending, and perpetual trading. Additionally, participants can earn Avalon points up to six time through engagement with the platform.
Avalon Labs Partners with Merlin Chain to Boost Bitcoin’s Role in DeFi
$USDa is designed to be a natural element of every layer of DeFi, with a focus on both institutional liquidity and decentralized finance. It seeks to allow Bitcoin holders to gain better yields on their investments thereby making Bitcoin not only a store of value but also an actor in the DeFi market.
Lastly, Avalon Labs is thrilled about the collaboration and about $USDa. The idea is to grow the platform’s services within Merlin’s environment while enhancing yield generation and value for Bitcoin holders.
Source: https://blockchainreporter.net/avalon-labs-brings-bitcoin-to-defi-with-usda-launch-on-merlin-chain/