After successful launches on other major networks, AUSD has deployed on Sui, a Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling. This event strengthens the stablecoin ecosystem on the Sui network.
Introduction of AUSD on Sui
Agora, led by early-stage finance and technology industry veterans Nick van Eck, Drake Evans, and Joe McGrady, has launched its industry-disrupting AUSD stablecoin on Sui. AUSD is the first institutional-grade US dollar stablecoin to be deployed in Sui's DeFi ecosystem.
Benefits of Deployment on Sui
Building on its prior successes on Ethereum and Avalanche, AUSD’s integration into the Sui Network immediately enhances its utility, accessibility, and interoperability. Within the first six weeks of contract deployment on Ethereum and Avalanche, nearly $60M AUSD has been minted with $5M+ of daily DEX volume. The integration has already begun improving liquidity and market efficiency within Sui’s rapidly expanding DeFi ecosystem, which at the time of writing boasted over $600 million in Total Value Locked (TVL).
Future Prospects for the Ecosystem
AUSD joins a growing number of stablecoins on Sui, which drive the development of robust DeFi applications and expand the adoption of blockchain technology. By leveraging Sui’s scalable, high-performance network, these stablecoins contribute to a high-performance environment where developers and users can innovate and focus on delivering superior experiences without being restricted by the technological limitations that have constrained other networks.
The deployment of AUSD on Sui strengthens the blockchain's ecosystem, creating new opportunities for developing innovative DeFi applications and improving the accessibility of financial services.
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