Avalon Labs Launches BTC-Backed Stablecoin USDa To Unlock Bitcoin Liquidity In DeFi, CeFi
Posted On November 11, 2024
Avalon Labs on Monday announced the launch of USDa, a Bitcoin (CRYPTO: BTC)-backed stablecoin designed to enable Bitcoin holders to unlock liquidity without selling their holdings.
The stablecoin, built on LayerZero’s cross-chain technology, aims to position Bitcoin as a source of liquidity within decentralized and centralized financial systems, rather than a passive store of value.
USDa provides Bitcoin holders with the option to collateralize their Bitcoin in exchange for stablecoin liquidity at a fixed borrowing rate of 8%.
This model allows Bitcoin holders to engage in yield-generating activities within …
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