sUSDa, issued by Avalon Finance, is a tokenized yield-bearing instrument representing staked USDa that accrues returns from the issuer's collateralized debt position lending markets through price appreciation rather than distributions [S1][S2].

sUSDa is the staked form of USDa, a Bitcoin-backed collateralized debt position stablecoin, and its value accrues from fixed borrowing costs on USDa loans and revenue from the USDaLend platform, reflected in the price appreciation of sUSDa over time [S1][S2]. The documentation cites a target sustainable long-term APR near 15% and elsewhere references approximately 25% APY [S3][S1]. A Fee term is deducted within the disclosed APR calculation [S3].

Avalon Finance publishes no registered legal entity name, and its Terms and Conditions are governed by the laws of the British Virgin Islands [S4][S5]. The Terms state Avalon Finance is not registered or licensed with any regulatory authority, and the issuer disclaims that sUSDa is a security [S4][S6]. The holder's claim is the staked, yield-bearing form of a CDP stablecoin [S1]. Users must represent they are not a U.S. Person nor a resident or national of Hong Kong, Singapore, or sanctioned jurisdictions [S4][S1]. Collateral backing USDa is held with regulated third-party custodians Cobo, Fireblocks, and Coinbase Prime on a non-rehypothecated basis [S1]. Unstaking is subject to a 7-day cool-down [S1].

sUSDa is an ERC-20 token with omnichain availability via LayerZero across Ethereum, Arbitrum, BNB Chain, Bitlayer, CoreDAO, and Merlin, with Ethereum primary for staking [S1][S7]. Holders mint USDa by depositing FBTC collateral and borrowing to an LTV limit or swapping USDT 1:1, stake it for sUSDa, and convert USDa to USDT within one business day via an Ethereum vault [S3][S1].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.avalonfinance.xyz/llms-full.txt" },
    { id: "S2", url: "https://docs.avalonfinance.xyz/avalon-btcfi-products/cedefi-cdp-usda" },
    { id: "S3", url: "https://docs.avalonfinance.xyz/avalon-btcfi-products/cedefi-cdp-usda/how-to-use-usda" },
    { id: "S4", url: "https://docs.avalonfinance.xyz/resources/terms-and-conditions" },
    { id: "S5", url: "https://docs.avalonfinance.xyz/resources/private-policy" },
    { id: "S6", url: "https://docs.avalonfinance.xyz/resources/disclaimer" },
    { id: "S7", url: "https://www.avalonfinance.xyz/" },
  ]}
/>


Tokenized funds

Users deposit BTC and BTC derivatives as collateral to borrow USDa or other assets across isolated lending markets, with CeDeFi infrastructure managing risk and liquidity.

Avalon Finance is a multi-chain CeDeFi lending protocol focused on unlocking Bitcoin liquidity. It offers BTC-backed lending, the USDa stablecoin, and yield products across 20+ chains with over 50 isolated lending markets.

Retail and institutional users seeking Bitcoin-backed lending and stablecoin services.

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Lending

Avalon Finance

USDa Saving Token (sUSDa) is a tokenized fund share issued by Avalon Finance.

The fund is open-ended and invests in crypto assets.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can subscribe and redeem in USDa, and holders have a right to redeem at net asset value with monthly settlement.

sUSDa has been issued on Ethereum as an ERC-20 token since November 2024, with bridged versions on two more.

USDa Saving TokensUSDa

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