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Agora

Agora is a startup focused on developing AUSD, a digital dollar . The company aims to provide a fully collateralized, freely tradeable stablecoin that serves international markets with an emphasis on transparency, security, and efficiency.[1]

Overview

Agora was co-founded by Nick van Eck, , and Joe McGrady in 2024. The company aims to launch AUSD, a fully collateralized and freely tradeable digital dollar, backed by cash, U.S. Treasury bills, and overnight repurchase agreements. The reserve fund for AUSD is managed by VanEck, one of the world’s largest ETF issuers. The assets are held in trust, are bankruptcy-remote, and are regularly audited to ensure transparency and security. AUSD and Agora services will only be available in select markets outside the United States.[5][8]

Nick van Eck, CEO of Agora, Agora’s AUSD represents "stablecoin 3.0", designed to compensate businesses for their contributions, such as listing tokens, providing liquidity, marketing, and accepting AUSD as payment or collateral. In his blog post introducing Agora, he states, that Agora’s revenue-sharing model allows businesses to reinvest in development, marketing, security, and user acquisition, creating a mutually beneficial ecosystem. While individual holders of AUSD do not directly receive any yield or income generated by Agora, the model ensures that businesses driving liquidity and utility receive adequate compensation.[9][10]

On May 29, 2024, the team behind Agora announced the launch of its native stablecoin, AUSD, on the . Sui is the first non- blockchain to host AUSD.[6][7]

Funding

In April 2024, Agora raised $12 million in seed funding, led by Dragonfly, with participation from , Breed, General Catalyst,  Ventures, and others. Strategic investors include Mirana Ventures,  EcoFund, Foresight Ventures, Wintermute Ventures, Galaxy, and Consensys.[2][3][4]
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Agora

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May 30, 2024

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