On October 18, COINOTAG reported that the BTCFi protocol, developed by Avalon Labs, has successfully surpassed a total locked value of 800 million US dollars. This significant milestone highlights the growing adoption and trust in decentralized finance (DeFi) solutions. Furthermore, the total loan amount within the protocol has crossed 270 million US dollars, showcasing the robust lending activities facilitated by the platform.
In addition to its impressive metrics, Avalon Labs is preparing to unveil its first interest-bearing stablecoin known as USDa, which will be backed by Bitcoin. This innovative product could provide users with a secure and productive way to leverage their digital assets. Moreover, Avalon Labs has successfully completed deployments across ten major public chains, enhancing accessibility and interoperability in the evolving DeFi landscape.