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Avalon Labs introduced USDa, a BTC-backed stablecoin, and its yield-bearing counterpart, sUSDa, built on LayerZero for omnichain compatibility.

The price of sUSDa reached an all-time high of $1.07, as recorded by CoinGecko.

Avalon Labs announced that sUSDa staking vaults went live on Canopy, the DeFi hub of the Movement ecosystem, expanding its BTC-backed yield offerings.