Agora Launches AUSD Stablecoin on Sui Network to Boost Liquidity and Efficiency
CryptoNewsTerminal Staff29 May, 2024
Agora Launches AUSD Stablecoin on Sui Network to Boost Liquidity and Efficiency
Decentralized finance startup Agora is set to launch its stablecoin AUSD on the layer-1 blockchain Sui in June. This move will provide more liquidity to the Sui ecosystem and increase market efficiency. AUSD will be the second native stablecoin on Sui, following the launch of USDC in November 2022. The launch of AUSD on Sui is part of Agora's broader strategy to expand its reach across multiple blockchain networks. AUSD is also scheduled to be issued on Ethereum (ETH), Arbitrum (ARB), and Optimism (OP). By doing so, Agora aims to make AUSD widely accessible and usable within the DeFi ecosystem. AUSD is a fully collateralized stablecoin backed by a basket of assets, including USDC, USDT, and BUSD. It is designed to maintain a stable value of $1.00 through a combination of on-chain and off-chain mechanisms. The launch of AUSD on Sui is expected to further enhance the stability and liquidity of the Sui ecosystem.
