Avalon Labs has successfully completed a $10 million Series A financing round, led by Framework Ventures, to enhance its Bitcoin-backed stablecoin, USDa, and expand its Bitcoin decentralized finance (DeFi) ecosystem. The current total value locked (TVL) for USDa is reported at $700 million. This funding aims to support the growth of USDa, which has integrated the Omnichain Fungible Token (OFT) Standard, allowing users to transfer USDa across eight different blockchain networks, including Ethereum and BNB Chain. The announcement comes amid holiday celebrations within the Berachain community, which is actively promoting festive greetings and events, including giveaways and NFT opportunities, as part of their 'Beramas' festivities.