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Agora's AUSD Becomes Native Currency on Polygon’s AggLayer Network

Key Takeaways

  • Agora’s AUSD stablecoin is the official currency for Polygon’s cross-chain AggLayer network;
  • The integration removes bridging requirements, reducing costs and improving ease of use for AggLayer’s developers and users;
  • The partnership supports a more equitable Web3 economy, aligning with Polygon Labs’ commitment to efficiency and accessibility.
Agora's AUSD Becomes Native Currency on Polygon’s AggLayer Network

Agora, a pioneering player in the stablecoin market, has partnered with Polygon MATIC $0.5385 to position AUSD as the native currency for AggLayer, a cross-chain settlement framework within the Polygon ecosystem.

This collaboration aims to streamline liquidity access for both developers and end-users in the AggLayer environment. By eliminating the need for traditional token bridges, this initiative will support a more unified and accessible on-chain experience.

Agora, co-founded by Nick van Eck, Drake Evans, and Joe McGrady, has introduced AUSD as an institutional-grade stablecoin backed by trusted custodians. This stablecoin provides a consistent store of value, allowing developers to build applications that rely on stable transactions and dependable liquidity.

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AggLayer’s adoption of AUSD shows an advancement in cross-chain technology. The platform is crafted to build interoperability among blockchain networks, making Web3 transactions smoother and more efficient. By choosing AUSD as the native currency, AggLayer intends to reduce transaction fees and eliminate time-consuming bridging processes.

Through this native integration, users of the AggLayer can access AUSD directly, avoiding the overhead and delays associated with bridge transfers. This streamlined access is anticipated to provide financial savings and a more efficient user experience.

For developers creating applications on the AggLayer, AUSD is positioned as a stable and predictable payment option that can seamlessly integrate into various decentralized applications. This provides a secure, consistent, and efficient mechanism for payments and transactions across the network, which is particularly valuable in a decentralized economy.

Nick van Eck, one of Agora's co-founders, emphasized the broader implications of AUSD’s integration, envisioning “a more egalitarian economic network” where rewards and profits are “shared across network participants” rather than centralized in one entity.

The partnership between Agora and Polygon’s AggLayer through the adoption of AUSD could redefine cross-chain interactions, setting the stage for a more efficient, accessible, and inclusive Web3 economy.

In other news, Binance has sparked a 2024 memecoin surge, with 80% of newly listed tokens experiencing significant gains after their debut on the platform.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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