1. Project Overview

Agora is a stablecoin issuer that provides users with a safe haven from volatility by pegging its tokens to assets such as the US dollar. Agora will issue stablecoins backed by cash, US Treasury bonds, and overnight repurchase agreements. AUSD is the first fully collateralized, freely tradable digital dollar. It is partner-centric, open, scalable, and reliable. Regardless of your location, it serves as a usable currency. Agora’s mission is to reduce barriers to accessing, transferring, and utilizing the world’s most widely recognized currency. The Agora Dollar (AUSD) token contract follows the ERC-20 standard, supporting the storage and transfer of AUSD balances between personal accounts. It includes additional features such as privileged account-controlled minting and burning, as well as an asset-freezing mechanism to prevent financial crimes.

 

2. Tokenomics

AUSD is a US dollar stablecoin and does not have tokenomics.

 

3. Roadmap

Not yet announced.

 

4. Team

According to official LinkedIn information, Agora has fewer than 10 employees. It was founded in 2023 and is headquartered in the United States.

 

Core Team:

 

1. Nick van Eck - Co-founder and CEO

Previously, he was a partner at General Catalyst, a venture capital firm providing early and growth-stage equity investments. He worked there for over four years, investing in enterprise software and blockchain/crypto companies from seed to growth stages. Nick graduated from the University of Virginia.

 

2. Drake Evans - Co-founder and CTO

Formerly the Head of Lending and Core Engineering Lead at Frax Finance. During his tenure at Frax, Drake led the development of smart contracts for Fraxlend, Fraxswap, and frxEther, with a total TVL exceeding $1 billion. Before joining Frax, he worked at ADP, where he helped establish a performance and scalability team within Lifion. Drake has extensive experience operating at scale in highly regulated environments. As a software engineer, he has managed teams and scaled data-intensive applications in high-security environments. Additionally, he served as a technical founder and private equity partner. He graduated from Vanderbilt University.

 

3. Joe McGrady - Co-founder and COO

Joe has approximately 20 years of experience in operations, finance, and risk management. Before joining Agora, he served as the Global Head of Operations at Galaxy Digital, where he played a key role in launching and scaling trading, lending, asset management, and mining business lines. He also led early-stage design collaboration and subsequent investments with Fireblock. Prior to Galaxy, Joe was the Director of Operations and Investor Relations at Ospraie Management and its spinoff, ParkRiver. In this role, he oversaw all back-office and middle-office operations for hedge and private equity fund vehicles, served as the primary point of contact for investors, and led operational due diligence meetings for institutional investor groups.

 

5. Funding

According to Rootdata, the team completed a $12 million seed round of financing on April 2, 2024. The round was led by Dragonfly, with participation from Foresight Ventures, Robot Ventures, Hack VC, Mirana Ventures, Wintermute, Galaxy Digital, ConsenSys Mesh, Mantle Network, Kraken Ventures, and others.

 

6. Community Engagement

 

1. Website Data

According to Similarweb, the majority of traffic originates from the United States, followed by the United Kingdom, Germany, India, and Spain.

 

The website had only 4K visits in October, with a bounce rate exceeding 44% for visitors viewing only a single page.

 

 

2. Social Media/Community Size and Engagement

Number of tweets from KOLs in the past week / UGC tweets in the past 24 hours: 15 (high).

 

Industry KOLs/project accounts following on Twitter: 50+ (moderate).

 

Twitter/Telegram/Discord followers: 5K (low).

 

Twitter post impressions (non-event-related content): 1K per post (low).

 

Community engagement: No active community.

 

7. Stablecoin Market Comparison

According to Defillama, the global stablecoin market capitalization currently stands at $196.1 billion. The market capitalization of stablecoin AUSD is $57 million, accounting for only 0.027% of the total.

 

 

Conclusion

From a funding perspective: The project has raised over $12 million in seed funding, with prominent investors such as Dragonfly, Foresight Ventures, Robot Ventures, Hack VC, Mirana Ventures, Wintermute, Galaxy Digital, ConsenSys Mesh, Mantle Network, and Kraken Ventures participating.

 

From a team background perspective: The team has prior experience in renowned projects such as Frax Finance and Galaxy Digital, giving them a strong understanding of industry dynamics and an advantage in project development and execution.

 

From a community engagement perspective: The social media and community operations are average: while KOL and UGC tweet activity is high, the number of industry KOLs/project accounts following on Twitter is moderate, Twitter post impressions are low, and the official social media and community follower count is relatively low.

 

From a token trading perspective: The 24-hour trading volume reaches $47 million, but CEX listings are limited to Coinstore, with trading primarily concentrated on-chain. In addition, for BingX users, the withdrawal and deposit of AUSD on BingX support both ERC-20 chain and AVAX chain.

 

Click the image below to receive exclusive gifts up to $6,000 by signing up for a BingX user account.