Grand Cayman, Cayman Islands, September 5th, 2024, Chainwire
Witness the groundbreaking deployment of Agora's AUSD stablecoin on the Sui network, enhancing scalability and performance like never before. Led by industry veterans Nick van Eck, Drake Evans, and Joe McGrady, Agora's AUSD is making waves as the first institutional-grade US dollar stablecoin on the Sui DeFi ecosystem.
With AUSD's integration, Sui is revolutionizing the DeFi landscape, providing essential access for institutional users and empowering developers to innovate like never before. The Sui ecosystem is set to expand exponentially, creating new opportunities for financial accessibility and innovation.
Having seen remarkable success on Ethereum and Avalanche, AUSD's integration into the Sui Network is already driving liquidity and market efficiency. With over $60M AUSD minted within the first six weeks, the Sui DeFi ecosystem is thriving, boasting over $600 million in Total Value Locked (TVL) and ranking among the top chains in weekly DEX trading volume.
“AUSD’s remarkable growth and early success sets the stage for the next impactful chapter on Sui,” said Nick van Eck, Co-Founder of Agora. “This collaboration is a pivotal step forward in our mission to create a more inclusive and accessible financial future for all.”
AUSD's integration with Sui is a game-changer, driving advancements in the DeFi and Payments ecosystem. By leveraging Sui's cutting-edge infrastructure and scalability, AUSD is poised to thrive and bring significant advancements to the industry.
Joining a growing list of stablecoins on Sui, AUSD is driving the development of robust DeFi applications and expanding blockchain technology adoption. This collaboration with Sui is set to further the growth of the AUSD network and liquidity, creating a high-performance environment for developers and users to innovate.
Contact Sui Foundation at media@sui.io
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Analysis: Agora's AUSD stablecoin integration on the Sui network marks a significant milestone in the DeFi ecosystem. With increased liquidity, market efficiency, and accessibility for institutional users, this collaboration is set to drive innovation and financial inclusivity. By leveraging Sui's high-performance infrastructure, developers and users can expect superior experiences and advancements in the DeFi and Payments space. Overall, this partnership has the potential to shape the future of finance and revolutionize the way we interact with blockchain technology.