AUSD Supply on Monad Increases by 462% to $184 Million in 90 Days

Agora's AUSD stablecoin has experienced significant growth on the Monad blockchain, with its supply rising from approximately $33 million to $184.3 million over the past 90 days, marking a 462% increase. This surge has added over $150 million in net new supply to Monad's ecosystem, making it the largest chain for AUSD, which now accounts for about 69% of the stablecoin's total supply of approximately $266 million across all networks.

The catalyst for this explosive growth can be traced back to the launch of Pendle, a yield-trading protocol, on June 19, 2026. Pendle introduced AUSD-based yield pools with initial weekly incentives of $100,000, which were later adjusted to $75,000. This model allows users to wrap yield-bearing assets into tradable tokens, enabling speculation on future yields and incentivizing the minting of AUSD for deposit into these pools.

Before Pendle's introduction, AUSD's supply on Monad had been declining, peaking at around $146 million in late 2025 before dropping to approximately $33 million by mid-June 2026. The arrival of Pendle reversed this trend almost immediately, demonstrating the impact of compelling yield opportunities in attracting capital.

Monad, which launched its mainnet on November 24, 2025, is designed to handle 10,000 transactions per second with sub-second finality. AUSD, a USD-backed stablecoin issued by Agora and managed by VanEck, aims to compete in the institutional-grade stablecoin market. With Pendle's weekly incentives costing about $3.9 million per year, the strategy has proven efficient, attracting significant liquidity at a cost of approximately 2.6 cents per dollar.

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Source: KLEA News