Following an announcement in May, the stablecoin AUSD is now live on the Sui Network. This addition marks a significant step for Sui, expanding its range of native assets and improving its interoperability, accessibility, and utility. The news was shared through Sui’s official social media channels.

AUSD, which has been used actively on Ethereum and Avalanche with almost $60 million worth of tokens minted, adds value to the Sui Network. Its integration is expected to enhance the availability of funds and trading activity in Sui’s expanding DeFi domain. Sui’s DeFi space currently has a TVL of over $600 million and is among the top in terms of weekly DEX trading volume.

Sui Network’s Scalability Benefits AUSD and DeFi Development

The launch of AUSD on Sui aligns with the expanding role of stablecoins in enabling the growth of sound DeFi solutions and promoting blockchain technology. Sui’s network is a high-performance and scalable network that is a perfect home for these stablecoins and enables developers and users to create more innovation without facing the technological constraints that are commonly found in other networks. This entails addressing issues like high charges and the rate of transaction processing time.

This partnership with Sui opens up more opportunities for AUSD and helps Agora grow its network and increase its liquidity. This integration empowers users and developers with a better and enhanced way of creating and applying decentralized finance applications.

Integrating AUSD into the Sui Network will likely create a conducive environment for innovation within the DeFi space. In order to overcome these previous issues of blockchains, Sui allows for further accessible and creative applications. Integrating with Agora improves AUSD’s liquidity and expands its use across various applications and platforms, pointing to a positive future for the global DeFi market.

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