Decentralized Finance protocol Avant completed a $6.5 million seed round of financing, with participation from Superlayer, Avalaunch, and others.

2024-11-27 23:52:14

Abstract generation in progress

BlockBeats news, on November 28th, according to TheBlock, Decentralized Finance protocol Avant completed a $6.5 million seed round of financing, with participation from Superlayer, Avalaunch, GoGoPool, Daybreak Digital, and Linda Kreitzman. Avant, based on Avalanche’s encryption revenue protocol, provides stable income Tokens similar to Ethena. The Avant issuance, named avUSD, is a ‘value stable’ Token that can stake the Token to receive savUSD, which is a profitable version of avUSD. To mint avUSD, users deposit Stable Coins such as Circle’s USDC or Tether’s USDT into the Avant Protocol, which operates on-chain in the Avalanche Block. Although avUSD itself does not generate revenue, it is designed for various Decentralized Finance activities, such as lending.

DEFI14.47%

XAVA4.29%

AVAX0.51%

ENA3.89%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes