Summary
- Agora said it will stop new issuance of AUSD on the Injective (INJ) network and end reward payments on existing holdings.
- AUSD on the Injective network can be redeemed at par value until Sept. 28, after which additional verification procedures and certain fees may apply.
- Agora said the move follows a review of chain-by-chain usage, ecosystem conditions and infrastructure costs, adding that the measure is limited to the Injective network and AUSD services on other chains will be maintained.
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Agora, the issuer of stablecoin AUSD—a crypto asset pegged to a fiat currency—will stop minting the token on the Injective (INJ) network.
On the 3rd (Korea time), Agora said via X (formerly Twitter) that starting that day it would suspend new issuance of AUSD on the Injective chain and also end reward payments on existing holdings.
AUSD on the Injective network can be redeemed at par value until Sept. 28; after that, additional verification procedures and certain fees may apply.
Agora said it made the decision after a comprehensive review of factors including chain-by-chain usage, ecosystem conditions and infrastructure costs, adding that the measure is limited to the Injective network and AUSD services on other chains will be maintained.
Uk Jin
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