USDa is a Bitcoin-backed stablecoin developed by Avalon Labs.

Features of USDa

• Utility and Functionality: Users can mint Bitcoin by depositing USDa tokens, receiving half that value in USDa to maintain the over-collateralization. This offers users enhanced utility, including opportunities for staking and participation in decentralized finance (DeFi) markets.

• Low Borrowing Rates: USDa features a competitive borrowing rate of only 8%, which is appealing compared to other stablecoins in the market.

• Cross-Chain Capabilities: USDa operates on multiple blockchain networks, enhancing its accessibility and usability across different platforms within the crypto ecosystem.