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Decentralized Finance protocol Avant completed a $6.5 million seed round financing, with Superlayer, Avalaunch, and others participating
Shenchao TechFlow News, on November 28th, according to TheBlock, Decentralized Finance protocol Avant completed a $6.5 million seed round financing, with participation from Superlayer, Avalaunch, GoGoPool, Daybreak Digital, and Linda Kreitzman.
It is reported that Avant is an encryption yield protocol based on Avalanche, providing a stable income Token similar to Ethena. The Avant issuance, named avUSD, is a 'value stable' Token that can stake this 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 the Avalanche Block on-chain. Although avUSD itself does not generate income, it is designed for various Decentralized Finance activities, such as lending.