USDa

USDa is a stablecoin issued by Avalon Labs and designed to maintain a value close to one US dollar. It is the flagship collateralized debt position product of Avalon's CeDeFi lending platform, meaning users lock up Bitcoin as collateral to mint it. The stated purpose is to let Bitcoin holders access dollar-denominated liquidity without selling their Bitcoin, making the asset useful for participants in decentralized finance who want to keep Bitcoin exposure while transacting in a stable unit.

USDa is a CDP-based stablecoin, so each token in circulation is backed by Bitcoin collateral posted through Avalon's lending platform, which blends centralized and decentralized finance infrastructure. When a user deposits BTC and draws USDa against it, the protocol records that debt position; repaying the debt and returning USDa releases the collateral. The token exists within the Ethereum ecosystem, and no consensus algorithm or block time is stored for it, reflecting that it relies on the underlying Ethereum network rather than running its own chain.

The data stored for USDa does not include a fee stream, revenue figures, or protocol earnings, so no fee-based measures can be reported here. What is recorded is that the circulating supply stands at roughly 97,758,338 USDA against a broader stablecoin circulating figure of approximately 145,559,779 as of the point-in-time measurement, and that the 30-day change in stablecoin supply is negative 0.011137, meaning the total tracked stablecoin supply contracted slightly over the last 30 days. The fully diluted valuation equals the market capitalization because the fdv-to-mcap ratio is 1.0 and supply issued is effectively 100 percent, leaving no dilution overhang to account for.