USDa Emerges as the Second-Largest CDP Project Globally
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. We'd Love to Hear Your Thoughts on This Article!Was this writing helpful?