Decentralized finance platform Avalon sets new milestone with $442 million TVL following the launch of its inaugural CeDeFi lending application
Avalon Labs, a pioneering Centralized-Decentralized Finance (CeDeFi) lending platform, has made a significant impact in the DeFi sector. The platform, which primarily caters to Bitcoin holders seeking to borrow stablecoins at fixed interest rates, recently launched and has seen impressive growth.
The platform's native stablecoin, USDa, is Bitcoin-backed, serving as a stable lending asset within the ecosystem. Key features of Avalon Labs' CeDeFi platform include Bitcoin collateralization for borrowing USDa stablecoin, offering a bridge between Bitcoin holders and DeFi lending markets. It also offers fixed interest rate borrowing, providing predictable and stable loan costs compared to variable-rate DeFi loans.
The stablecoin USDa acts as a reliable, Bitcoin-backed lending asset in the DeFi space, enhancing liquidity for Bitcoin holders without requiring them to sell their BTC.
Avalon Labs' CeDeFi platform has seen remarkable growth, with a record high Total Value Locked (TVL) of $442.5 million on September 14. The platform gained approximately $100 million in the span of ten days, securing its place among the top 50 largest DeFi apps by TVL, following platforms like Stargate and GMX.
Bitcoin-focused CeDeFi platform Avalon Labs offers a fixed rate of 8% and flexible repayment options. The platform's TVL is primarily held in the FBTC/USDT pool, with a total supply of $82 million. So far, over $40 million worth of crypto has been borrowed from this pool.
Interestingly, Bitlayer holds the largest share of the TVL on Avalon Finance, with over $160 million out of a total of $356 million. Collectively, WBTC, SOLVBTC, SOLVBTC.BBN, and SOLVBTC.ENA account for about 90% of the total TVL on Avalon Finance.
Avalon Labs supports eight chains, including Bitlayer, BNB Smart Chain (BSC), Ethereum, Arbitrum, Merlin, Core, Scroll, and Mantle. The platform is planning to add BTC/USDC and BTC/USDT pools soon.
It is worth noting that Avalon Labs, originally known as Avalon Finance, recently rebranded to reflect its focus on CeDeFi services. FBTC, an omnichain asset backed by Bitcoin and issued by Ignition, is a significant component of the platform.
For the latest TVL figures and rankings among DeFi platforms, further investigation on analytics platforms like DefiLlama or DappRadar may be required. Avalon Labs' CeDeFi platform stands out by combining Bitcoin collateralization with a native, Bitcoin-backed stablecoin (USDa), supporting fixed-rate loans for BTC holders looking for stability and liquidity.
- The CeDeFi platform Avalon Labs, with its native stablecoin USDa and fixed-rate borrowing options, aims to bridge the gap between the finance sector and Bitcoin technology.
- The recent rebranding of Avalon Finance to Avalon Labs signifies their focus on CeDeFi services, which includes Bitcoin collateralization, a Bitcoin-backed stablecoin (USDa), and support for multiple chains.
