- AUSD Stablecoin Launches on Sui Network
- Impact on Sui DeFi Ecosystem
- Benefits for Developers and Users
After the former announcement of Agora in May, the stablecoin 'AUSD' is currently live on Sui Network. The project reportedly adds a chief dimension to the expanding list of Sui’s native assets along with enhancing interoperability, accessibility, and utility.
AUSD Stablecoin Launches on Sui Network
The platform took to its official social media account to reveal that the AUSD stablecoin is now live on Sui Network. AUSD has previously witnessed successes on Avalanche and Ethereum, where approximately $60M worth of the stablecoin has already been minted. The integration of AUSD into the Sui Network instantly improves its accessibility, interoperability, and utility.
Impact on Sui DeFi Ecosystem
The integration has started enhancing market efficiency and liquidity within the rapidly growing DeFi ecosystem of Sui. At present, it boasts more than $600M in its total value locked and ranks among the prominent chains in terms of per-week DEX trading volume. With this development, AUSD has become a part of the growing list of Sui blockchain-based stablecoins.
Benefits for Developers and Users
The infrastructure of Sui pays significant attention to dealing with the technological limitations of other blockchain networks, such as high fees and slow transfer speeds. With the integration of AUSD into this ecosystem, Sui strengthens developers to build additionally accessible and effective DeFi applications. This environment promotes creativity, letting projects expand the possibilities in the DeFi sector.
The availability of AUSD and other stablecoins plays a critical role in driving DeFi applications' development, contributing significantly to blockchain technology's adoption.
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