Polygon Labs, AggLayer co-developer Selects Agora’s AUSD As Native Stablecoin, What’s Next For POL?

Polygon announced Agora AUSD as the new native stablecoin for the AggLayer. This aims to solve liquidity fragmentation and interoperability issues. AUSD will help streamline cross-chain transactions and provide unified liquidity across integrated networks.

AUSD, backed by VanEck and State Street, simplifies stablecoin use across the Polygon ecosystem. Developers can now integrate AUSD more easily. This eliminates the need for multiple stablecoins, making cross-chain operations more efficient.

Polygon New Native Stablecoin AUSD Brings Unified Liquidity

Polygon announced in a blog post on November 11, 2024, that Agora AUSD will be the native stablecoin for the AggLayer. This will simplify cross-chain transactions and bring unified liquidity to the ecosystem. AUSD aims to streamline the process for developers and users in the blockchain space.

Agora will solve the liquidity fragmentation challenge. It provides a fungible stablecoin that works seamlessly across all AggLayer-connected blockchains. It will also help developers build applications without the need to integrate multiple stablecoins. With AUSD, developers can focus on their projects while ensuring compatibility across different blockchains.

The news came during the ongoing Aggregation Summit, which is focused on cross-chain interoperability and liquidity unification. Insights from the Bangkok summit highlight AggLayer’s role in advancing blockchain technology. The integration of AUSD into this ecosystem marks a significant step toward achieving a seamless, scalable network. This move aims to improve user experience and drive further innovation within the blockchain space.

AUSD Adoption and Impact On Price

As the Polygon ecosystem expands, the demand for AUSD is expected to grow. More developers and users will adopt AUSD as their preferred stablecoin for cross-chain applications and transactions. As more users engage with the Polygon ecosystem, the demand for POL will also rise, potentially leading to an increase in its value.

POL Price is currently trading at $0.40, with a 24-hour low of $0.38 and a high of $0.42. Over the past week, the token has gained 38%, showing strong momentum. In the last month, the price has risen by 9%, reflecting sustained growth. The 24-hour trading volume stands at $414 million, highlighting significant activity and interest in the token.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.