Avant, the company behind DeFi-backed stable-value token avUSD, raised $6.5M in Seed funding.
Backers included SuperLayer and Avalaunch, along with a coalition of over 40 individual investors.
The company intends to expand its suite of inclusive DeFi tools.
Founded by Rhett Shipp, Avant has developed an innovative DeFi-powered stable-value token system on Avalanche, featuring two unique assets: avUSD and savUSD.
- avUSD serves as a stable-value token, offering a reliable store of value ideal for transactions, lending, and borrowing.
- savUSD is the staked variant that accrues yield through Avant’s managed delta-neutral strategies, with the aim of offering consistent returns and a lower risk profile than many products in the DeFi space.
Through it, users can buy avUSD (which can be staked manually) and savUSD (the pre-staked variant of avUSD) to gain access to advanced strategies without the need for manual oversight or specialized resources. Avant collaborates with expert delta-neutral traders, including renowned firms like 0xPartners, leveraging their experience and track record in delivering stable, risk-adjusted returns.
Users also benefit from institutional-grade security, with top-tier custody solutions and continuous real-time contract monitoring. The company’s diversification strategy is designed to ensure no project or protocol receives an outsized allocation of funds in order to mitigate the risks associated with single-point failures.
FinSMEs
28/11/2024