• 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 believes that the USDa stablecoin project has great potential. It will unlock access to the …

The post Avalon Labs’ USDa Stablecoin Reaches 100M Supply, $200M in BTC Backing appeared first on Coin Edition.

• 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 believes that the USDa stablecoin project has great potential. It will unlock access to the …

The post Avalon Labs’ USDa Stablecoin Reaches 100M Supply, $200M in BTC Backing appeared first on Coin Edition.