We're excited to announce the deployment of AUSD, Agora's U.S. dollar stablecoin, fully backed by cash, U.S. Treasury bills, and overnight repo agreements, on Mantle Network. As the first ETH Layer 2 (L2) deployment for AUSD, this integration brings a secure, institutional-grade stablecoin directly to Mantle's burgeoning on-chain ecosystem.

Introducing AUSD: A New Era of Stablecoins on Mantle

AUSD is a next-generation stablecoin that enhances security and reliability within Mantle Ecosystem, addressing the limitations of traditional bridged stablecoins, such as time locks and capital inefficiency. The introduction of this institutional-grade, native stablecoin is expected to drive increased interest from traditional businesses in Mantle.

AUSD signals the dawn of the Stablecoin 3.0 Era, embracing an open model that aims to ensure fairness and broad benefits across Mantle’s ecosystem. Unlike previous models that favored specific companies, AUSD embraces an open model where all ecosystem participants benefit equally. This approach not only resolves the conflicts of interest seen in earlier stablecoin generations but also creates a level playing field for businesses to drive liquidity and utility.

“We’re thrilled to be working with the Mantle team and to be joining this vibrant ecosystem. Mantle has an exceptional suite of financial and consumer applications, with many impactful announcements on the way. This is a forward-leaning team and Mantle was the priority for AUSD’s first L2 deployment,” said Nick van Eck, CEO of Agora.

Powering Mantle's Super Ecosystem

The introduction of AUSD marks a significant milestone for Mantle as we continue to build a hub for financial and consumer on-chain applications. AUSD is set to power a wide array of applications within Mantle ecosystem, including DeFi protocols and gaming platforms.

At launch, AUSD will be available on Merchant Moe, one of Mantle's decentralized exchanges (DEXs), with liquidity pairs against native assets such as $mETH, $cmETH, $FBTC, and more. This deep liquidity ensures that users can seamlessly interact with AUSD from day one.

"AUSD builds on both the successes and lessons learned from previous stablecoin generations, offering a forward-thinking solution to some of the most pressing challenges in broader adoption," said Jordi Alexander, Chief Alchemist of Mantle. "Agora has truly embodied its namesake, providing a modern marketplace for seamless value exchange. We’re proud to support AUSD as a preferred digital dollar asset within Mantle Ecosystem."

Stay informed on the latest developments and use cases for AUSD within Mantle Ecosystem by following us on X/Twitter, where you’ll find up-to-date news and opportunities. If you have any questions about AUSD or anything else, join the Mantle community on Discord — our team is always happy to assist.