Introducing the First Native Stablecoin on Injective: $AUSD

Backed by VanEck and custodied by State Street, @withAUSD bolsters liquidity between DeFi and TradFi markets while also providing a seamless on-ramp for Injective dApps globally.

AUSD, the stablecoin pegged to the U.s. dollar and backed by cash, U.S. Treasury bills, and safe financial agreements, is now available on Injective.

Managed by VanEck, an asset management firm with $100 billion under its belt, and stored securely by State Street, which manages over $4 trillion in assets, AUSD offers peace of mind for users. VanEck and State Street handle all of the assets behind AUSD, making it a dependable digital dollar option.

AUSD allows the community to work well in Injective’s various programs, like its burn auctions and on-chain staking, which return earnings to the community. For anyone using Injective’s DeFi platform, AUSD adds another layer of stability as they trade, stake, and lend in a currency they can trust.

A new era of finance is upon us with a massively scalable stablecoin on-ramp that is native to Injective.

Read more below to learn about Agora and Injective’s shared vision of bringing the world of traditional finance on-chain.https://t.co/v7jGWJfwEV

— Injective ? (@injective) October 31, 2024

With AUSD now part of the Injective network, the stablecoin is being used by important dApps, such as DEXs and on-ramps that help people convert traditional money into crypto. These apps now have a reliable, dollar-backed asset to offer their users, making it easier for people to join the DeFi world without the worry of fluctuating prices.

A Growing Force in the Stablecoin Market

Although AUSD is relatively new, it’s quickly gained traction. Since it was first introduced, AUSD’s supply has grown from zero to more than $65 million, with daily trading volumes of over $15 million across networks like Ethereum, Avalanche, Sui, and Mantle. Now that it’s expanding on Injective, even more users and platforms can incorporate AUSD into their DeFi activities.

1/ Introducing the first native stablecoin on Injective: $AUSD

Backed by VanEck and custodied by State Street, @withAUSD bolsters liquidity between DeFi and TradFi markets while also providing a seamless on-ramp for Injective dApps globally. pic.twitter.com/cV480alIA7

— Injective ? (@injective) October 31, 2024

By bringing AUSD to Injective, Agora has created a stable and secure way for people to bridge the gap between traditional and decentralized finance. For investors and everyday users alike, this new stablecoin might just be the ticket to exploring DeFi without the fear of unpredictable price changes.

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence.

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