Hassan Maishera
The Avalanche Foundation announced via a blog post on Tuesday that Agora has launched its fully collateralized US digital dollar, AUSD, on the Avalanche network. After minting $40M within its first two weeks on Ethereum Mainnet, the AUSD stablecoin has expanded to Avalanche with $20M+ minted and integrations with critical ecosystem infrastructure.
Avalanche explained that Trader Joe provides a platform for trading AUSD with high efficiency and low slippage. Its Liquidity Book model concentrates liquidity, allowing for more efficient trades, which is particularly beneficial for larger transactions.
Furthermore, BENQI enhances the functionality of AUSD by providing users with a robust platform for lending, borrowing, and staking, thereby expanding its reach and utility within the Avalanche DeFi ecosystem. Additional ecosystem projects contributing to Agora include Pharaoh Exchange, Dexalot, and Wombat Exchange.
Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.AVAX is up 5% today and currently trades at $22.99 per coin.
