Avalon Labs Raises US$10 Million to Develop Bitcoin-Backed Stablecoin



Avalon Labs, a USDa technology issuer supported by Bitcoin (BTC), has raised $10 million to develop Bitcoin-based Decentralized Finance (DeFi) instruments.

It aims to develop Bitcoin from a digital asset store into an active financial instrument that can usefully serve users with various purposes.

Later, users will have access to unlock assets stored in Bitcoin by pledging USDa and receiving a fixed loan interest rate of 8%. The *Total Value Locked* (TVL) has reached US$700 million this month.

#XmasWithGatePost
BTC2,23%
DEFI1,49%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin