AUSD Launches with $20M+ Minted

• Agora expands to Avalanche, minting $20M+ in AUSD with key ecosystem integrations.
• Agora’s open stablecoin model encourages businesses to share in network growth and benefits.

In a tweet, Avalanche announced that Agora provides an open, stablecoin architecture that invites businesses to join and support the network. By doing so, these firms can participate in the economic gains that come with the network’s expansion and greater acceptance.

This just in. Agora is expanding to Avalanche 🔺

Born from the belief that money should be neutral, @withAUSD brings an open stablecoin model that incentivizes businesses to contribute to and service the network, allowing them to share in the economic benefits of its growth and… pic.twitter.com/XIjBb6k3Hs

— Avalanche 🔺 (@avax) August 20, 2024

Agora Expands AUSD to Avalanche, Secures $20M+ Milestone 

Agora’s stablecoin, AUSD, has reached significant milestones. Agora generated $40 million in AUSD in the first two weeks of its Ethereum Mainnet debut. Building on this success, Agora has expanded its operations to Avalanche, where it has already earned more than $20 million in AUSD.

This expansion is more than just switching to a new blockchain; it is also about connecting with essential infrastructure inside the Avalanche ecosystem, guaranteeing that AUSD can be efficiently used and trusted in this quickly increasing network.

At the same time, Avalanche’s native token, AVAX, has been performing well in the market. AVAX is presently trading at $23.02, up 5.22% over the last 24 hours and 8.28% over the last seven days.

This latest spike has placed AVAX among the top five gainers today, attracting significant interest from investors and market participants alike. Furthermore, AVAX’s daily trading volume has surged to $289.78 million, representing a more than 50% increase.

On the other hand, CNF previously reported that Balanced had introduced a cross-chain DeFi solution on Avalanche, eliminating the need for bridging or wrapping assets.

Balanced is a DeFi platform with user-friendly features such as a native asset exchange with connected chains, AVAX collateralized lending, and the capacity to mint billions of USD.

Additionally, as we previously highlighted, the California DMV has digitized over 42 million car titles using the Avalanche blockchain. The blockchain-based approach prevents fraud and decreases the necessity for in-person visits to the DMV.

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