Sui Network Integrates AUSD Stablecoin, Driving DeFi Growth

Sui Network Gains AUSD: The Next Big Thing in Institutional DeFi

Sui Network – After achieving notable success on other major networks, AUSD has now been deployed on Sui, taking advantage of the scalable and high-performance capabilities of this Layer 1 blockchain. This launch not only enhances Sui’s stablecoin ecosystem but also marks a significant step in its DeFi expansion.

AUSD: A Game-Changer in the Stablecoin Ecosystem

Agora, the stablecoin company led by industry veterans Nick van Eck, Drake Evans, and Joe McGrady, has introduced its disruptive AUSD stablecoin to Sui. Known for its infinite horizontal scaling and industry-leading performance, Sui provides an ideal platform for AUSD, which is the first institutional-grade US dollar stablecoin to integrate into the Sui DeFi ecosystem.

According to Gap Kim, Global Head of Marketing for the Sui Foundation, this integration will empower developers and provide essential access to DeFi for institutional users. Kim emphasized, “By integrating first-class assets like AUSD natively on the network, Sui is empowering developers and offering essential access to DeFi for a new class of institutional users.”

AUSD’s Proven Success on Ethereum and Avalanche

AUSD’s track record on networks like Ethereum and Avalanche has set a strong foundation for its growth on Sui. Within just six weeks of its deployment on these platforms, AUSD reached a staggering $60 million in minted stablecoins, with a daily DEX volume exceeding $5 million. This integration has played a key role in boosting liquidity and market efficiency.

Sui’s DeFi ecosystem has also been growing rapidly, boasting over $600 million in Total Value Locked (TVL). It consistently ranks among the top chains in weekly DEX trading volume, making it a fertile ground for AUSD’s expansion.

Sui’s Scalability: A Catalyst for DeFi Innovation

Sui’s cutting-edge infrastructure allows AUSD to thrive in a scalable environment, which is crucial for the stablecoin’s future growth. As Nick van Eck, Co-Founder of Agora, noted, “AUSD’s remarkable growth and early success across the industry set the stage for an even more impactful chapter on Sui. Leveraging Sui’s infrastructure and unparalleled scalability, AUSD will drive significant advancements in the DeFi and payments ecosystem.”

This collaboration aligns with Agora’s broader mission of creating a more inclusive and accessible financial future, where the scalability of networks like Sui is pivotal.

Growing Stablecoin Ecosystem on Sui

AUSD joins a growing list of stablecoins on the Sui network, contributing to the development of robust DeFi applications. These stablecoins leverage Sui’s scalable, high-performance blockchain to offer users a superior experience, free from the technological limitations seen on other networks.

By integrating AUSD, Agora not only expands its stablecoin’s reach but also contributes to the global liquidity and adoption of blockchain technology. As more developers and users turn to Sui, the opportunities for financial innovation will continue to grow.

FAQ: AUSD’s Deployment on Sui