Grand Cayman, Cayman Islands, September 5, 2024, Chainwire
Following profitable launches on different main networks, AUSD has deployed on Needle, leveraging the scalable, high-performance community and strengthening Needle’s stablecoin ecosystem.
AgoraThe stablecoin firm led by early-stage finance and know-how {industry} veterans Nick van Eck, Drake Evans, and Joe McGrady has launched its industry-disrupting AUSD stablecoin NeedleLayer 1 blockchains provide industry-leading efficiency and infinite horizontal scaling. AUSD provides an essential dimension to Needle’s rising listing of native belongings, being the primary institutional-grade US greenback stablecoin to be deployed within the Needle DeFi ecosystem.
“By seamlessly integrating first-class belongings like AUSD onto the community, Needle is empowering builders and offering important entry to DeFi for a brand new class of institutional customers,” mentioned Hole Kim, international advertising and marketing head of the Needle Basis. “Because the Needle ecosystem continues to develop, the alternatives for innovation and monetary entry on Needle can even develop exponentially, benefiting your complete Needle group.”
Constructing on its earlier successes on Ethereum and Avalanche, the mixing of AUSD into the Needle community instantly enhances its usability, accessibility, and interoperability. Inside the first six weeks of contract deployment on Ethereum and Avalanche, almost $60M AUSD has been mined with $5M+ each day DEX quantity. The mixing has already begun to enhance liquidity and market effectivity inside Needle’s quickly increasing DeFi ecosystem, which on the time of writing boasted over $600 million in whole worth locked (TVL) and persistently ranks among the many prime chains in weekly DEX buying and selling quantity.
“AUSD’s outstanding progress and early success throughout the {industry} units the stage for the subsequent much more spectacular chapter on the Needle,” mentioned Nick van Eck, co-founder of Agora. “Leveraging Needle’s cutting-edge infrastructure and unparalleled scalability, AUSD will additional innovate and drive vital developments inside the DeFi and funds ecosystem. This collaboration is a important step in our mission to construct a extra inclusive and accessible monetary future for all.”
AUSD joins a rising variety of stablecoins on Needle, which foster the event of sturdy DeFi functions and increase the adoption of blockchain know-how. By leveraging Needle’s scalable, high-performance community, these stablecoins contribute to a high-performance setting the place builders and customers can innovate and give attention to delivering higher experiences with out being restricted by technical limitations that hinder different networks. Agora’s integration with Needle additionally continues to increase AUSD’s attain and additional the expansion of the worldwide AUSD community and liquidity.
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