Bitcoin stablecoin USDa becomes the second largest CDP, second only to DAI

BlockBeats reported that on December 11, according to DefiLlama data, the Bitcoin stablecoin USDa launched by Avalon Labs has become the second largest CDP stablecoin project, second only to DAI issued by MakerDAO. USDa supports 1:1 exchange for USDT, with a lending rate of 8%.

Avalon Labs is a BTCFi financial infrastructure platform with a TVL of over $2 billion. The project won the second round of the BNB incubation program and was successfully selected for the MVB8 Season 8 accelerator project.