This marks the introduction of Sui’s second native stablecoin, following FDUSD.
AUSD is expected to significantly enhance Sui’s liquidity and market efficiency, providing a more robust financial infrastructure.
Boosting Sui’s Liquidity and Market Efficiency
AUSD is Agora’s inaugural product, reflecting the company’s commitment to building a global financial infrastructure. The stablecoin is designed to maintain a value equivalent to the US dollar, offering stability and reliability to its users. Set to release in June, AUSD’s launch on Sui diversifies its presence beyond Ethereum-based blockchains.
Sui is the first non-EVM blockchain to host AUSD, marking a significant expansion of Agora’s reach. Previously, Agora had announced plans to make AUSD available on Ethereum, Arbitrum, and Optimism. By launching on Sui, Agora taps into the unique capabilities of the blockchain.
Source: X
The introduction of AUSD to the Sui network brings several advantages. Primarily, it increases the liquidity available within the Sui ecosystem, facilitating smoother and more efficient transactions. Stablecoins like AUSD play a critical role in decentralized finance (DeFi) by providing a stable medium of exchange that can be used for trading, lending, and other financial activities without the volatility associated with traditional cryptocurrencies.
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Source: X
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