TL;DR

Injective has launched AUSD, the first US dollar-backed native stablecoin, developed by Agora to enhance DeFi efficiency.
The stablecoin is fully collateralized and backed by cash, Treasury bonds, and repurchase agreements.
AUSD has reached a circulation of over $65 million and a daily volume exceeding $15 million.

Injective has announced the launch of AUSD, the first US dollar-backed native stablecoin, developed by Agora.

This new, fully collateralized asset was designed to enhance the efficiency and liquidity of decentralized finance. Agora, co-founded by Nick Van Eck, has ensured that AUSD is backed by a set of assets that includes cash, US Treasury bonds, and overnight repurchase agreements, enabling users to rely on a stable and dependable asset.

AUSD Functionalities

AUSD aims to eliminate barriers that often arise in the interoperability of financial platforms, allowing users to buy, sell, and trade without additional complications. The integration is expected to boost AUSD adoption across various applications within the Injective ecosystem, facilitating access to lending and staking. AUSD consistently aims to offer considerable stability against fluctuations that may impact other digital assets.

Since its launch, the stablecoin has garnered an excellent reception, reaching a circulation of over $65 million and a daily volume exceeding $15 million across different blockchain platforms, including Ethereum and Avalanche. US dollar-backed stablecoins dominate the market, holding over 99.7% of total market share. Injective has processed over $40 billion in stablecoin volume since its inception.

Injective: Ultra-Low Fees and Real-Time Transactions

INJ is one of the most powerful infrastructures for AUSD development, made possible by its ultra-low fees and capacity for real-time transactions. The platform, built specifically for finance, aims to foster convergence between traditional finance and decentralized solutions, facilitating new users’ access to the crypto industry.

According to the information, AUSD is a product available only in non-restricted countries, which limits its accessibility in certain regions. Ultimately, its launch represents a key innovation for the industry, and its implementation on Injective could mark the beginning of a new era in digital finance integration

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Filed under: News - @ October 31, 2024 6:16 pm