CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
coinpedia 2024-12-11 05:29:31

USDa Emerges as the Second-Largest CDP Project Globally

The post USDa Emerges as the Second-Largest CDP Project Globally appeared first on Coinpedia Fintech News According to DeFiLlama, USDa, the first Bitcoin-backed stablecoin launched by Avalon Labs, has achieved a major milestone. It has become the world’s second-largest collateralized debt position (CDP) project, trailing only MakerDAO’s DAI. USDa has surpassed $700 million in total value locked (TVL), reflecting its growing adoption in the decentralized finance (DeFi) space. USDa offers a 1:1 conversion to USDT with an attractive borrowing rate of just 8%, making it a competitive option for users. Avalon Labs, known for winning the second round of the BNB Incubation Alliance, has further cemented its position in the DeFi ecosystem with this achievement.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.