Agora Launches Its Own Stablecoin, AUSD, on Avalanche

IconCryptoNewsTerminal Staff21 Aug, 2024

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Agora Launches Its Own Stablecoin, AUSD, on Avalanche

Agora, a decentralized finance startup, has announced the launch of its own dollar-pegged stablecoin, AUSD, on the Avalanche (AVAX) blockchain network. The stablecoin will be backed by a basket of crypto assets and will be used to facilitate trading, lending, and other financial activities on the Avalanche ecosystem. Agora's stablecoin will be available on the Avalanche network through the Agora app and will be listed on several decentralized exchanges. The stablecoin will also be integrated with Agora's other products, such as its lending and borrowing platform. The launch of AUSD is a significant milestone for Agora and the Avalanche ecosystem. The stablecoin will provide a much-needed stable asset for traders and investors on Avalanche and will help to facilitate the growth of the decentralized finance ecosystem on the platform.

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