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"Bitcoin-Backed Stablecoin sUSDa Lists on Pendle, Offering 28.71% APY"

Coin WorldSunday, Jan 26, 2025 11:22 pm ET

1min read

Bitcoin-backed stablecoin sUSDa has been listed on the Pendle platform, marking a significant milestone for the BTCFi ecosystem. This innovative protocol, developed by Avalon Labs, allows users holding PT-sUSDa to earn a fixed annual percentage yield (APY) of 28.71% until maturity. Liquidity providers can achieve even higher returns, with an impressive APY of 31.56%.

Avalon Labs, a leading financial infrastructure platform in the BTCFi field, has successfully secured a total value locked (TVL) of over $2 billion, showcasing its prominence in the digital finance landscape. In 2024, the company successfully completed a $10 million Series A funding round led by Framework Ventures, further solidifying its competitive edge in the crypto finance sector.

The listing of sUSDa on Pendle is a testament to Avalon Labs' commitment to driving innovation and growth in the crypto finance sector. By offering attractive returns and a robust infrastructure, Avalon Labs continues to attract investors and solidify its position as a key player in the digital finance landscape.

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