Agora has launched its AUSD stablecoin on the Sui blockchain, enhancing the stablecoin ecosystem on Sui with its high performance and scalability.
AUSD Launch on Sui
Agora, led by finance and technology industry veterans Nick van Eck, Drake Evans, and Joe McGrady, has launched its AUSD stablecoin on the Sui blockchain. AUSD is the first institutional-grade stablecoin to be deployed in the Sui DeFi ecosystem.
AUSD Integration and Success
The integration of AUSD into the Sui network significantly enhances its utility, accessibility, and interoperability. Within the first six weeks of contract deployment on Ethereum and Avalanche, nearly $60 million AUSD has been minted with over $5 million in daily DEX volume. Liquidity and market efficiency in the rapidly expanding Sui DeFi ecosystem have already begun to improve, with over $600 million in total value locked (TVL).
Future of Stablecoins on Sui
AUSD has added significant value to the development of DeFi applications on Sui, driving the adoption of blockchain technology. Sui's high-performance network allows developers and users to focus on delivering superior experiences without being limited by technological constraints. Agora's integration with Sui expands the reach and liquidity of the AUSD network globally.
The launch of AUSD on the Sui blockchain marks an important milestone in the development of the stablecoin ecosystem and promotes the advancement of innovative financial solutions based on blockchain technology.
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