On December 11, according to DefiLlama data, the bitcoin stablecoin USDa launched by Avalon Labs has become the second largest CDP stablecoin project, second only to the DAI issued by MakerDAO. USDa supports 1:1 exchange of USDT, and the borrowing rate is 8%. Avalon Labs is a BTCFi financial infrastructure platform, TVL has exceeded $2 billion, the project won the second round of the BNB incubation program, and was successfully selected for the MVB8 season 8 accelerator program.