Avalon Labs’ Bitcoin-backed stablecoin USDa has already reached 100 million supply.
The recently launched stablecoin protocol has a TVL above $300 million.
USDa provides floating APY, ranging from 20% to 50%.
Avalon Labs has launched USDa, a Bitcoin-backed overcollateralized stablecoin. The new blockchain-based digital asset reached a supply of over 100 million. Its collateralized Bitcoin assets are $200 million, according to data from the project’s website.
Avalon Labs also opened a $50 million deposit quota. It gives participants an APY that ranges from 20% to 50%, plus 3x points rewards. Due to the promising returns and significant rewards, the total value locked (TVL) of the stablecoin project rose to $318 million.
Avalon Labs’ USDa, the world’s first Bitcoin-backed overcollateralized stablecoin, has reached a supply of over 100 million, with collateralized Bitcoin assets totaling $200 million. Additionally, Avalon Labs has announced the opening of a $50 million deposit quota, offering…
— Wu Blockchain (@WuBlockchain) November 12, 2024
Avalon Labs believes that the USDa stablecoin project has great potential. It will unlock access to the …
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