🚀 Big news in the crypto world! Avalon Labs, known for its BTC-backed stablecoin USDa, has secured $10 million in a Series A funding round. Led by Framework Ventures, the round saw contributions from UXTO Management, Presto Labs, and Kenetic Capital.

Avalon is on a mission to transform Bitcoin from a digital store of value into a versatile financial tool. With USDa, users can collateralize their BTC at an 8% borrowing rate. The stablecoin recently hit $700 million in total value locked (TVL).

Avalon's offerings include bitcoin-backed lending, yield-generating savings accounts, and a credit card. What are your thoughts on BTC's evolving role in DeFi? Share below! 💬