Focused on its mission to strengthen decentralized finance (DeFi) on the Avalanche network, Avaware has announced the launch of its stablecoin ($AUSD).
Avaware is making a big impact in the Avalanche ecosystem. They announced their stablecoin launch via an official blog post. According to the announcement, users can now mint or redeem $AUSD on the Avaware dApp.
Also, Avaware via its official Twitter handle disclosed that farming of the new stablecoin is now available on Avalanche.
🚨 Avaware Stable Farms Live!🔺https://t.co/PKBa0wL0a5 🔗
— Avaware🔺 (@AvawareAVE) November 30, 2021
The new stablecoin is 99% backed by Avalanche with a 1% fee to users for minting or redeeming. Essentially, users can easily get the Avaware stablecoin by minting or redeeming it on the protocols dApp.
Avaware Growth and Updates
Also, Avaware in its recent V2.0 roadmap indicated that it has contributed immensely to the Avalanche network since its launch.
— Avalanche Today (@TodayAvalanche) November 24, 2021
According to the announcement, in the past seven months, Avaware has contributed many things to developing DeFi & NFTs on Avalanche.
Also, it is worth noting that the Avalanche ecosystem has grown remarkably recently. The total value locked (TVL) in Avalanche-based DeFi protocols is up dramatically in the past three months.
According to DeFi Llama, $13.5 billion is currently locked on Avalanche and Avaware contributes 1.9 million of the assets locked.
AVE and AVAX Price Update
As of the time of publication, Avaware’s price was $0.368094 with a 24-hour trading volume of $80,144. AVE price also dropped by 7% over the last 24 hours. Also, the token has a circulating supply of four million AVE coins and a total supply of four million.
Meanwhile, Avalanche’s price rallied by 4.1% over the last 24 hours. AVAX was trading at $115.86 with a 24-hour trading volume of $1.6 billion. Also, the token currently has a circulating supply of 223.8 million AVAX coins and a total supply of 378 Million.
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