{"id":2129,"date":"2024-12-24T04:19:40","date_gmt":"2024-12-24T04:19:40","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2024\/12\/24\/avalon-labs-raises-10m-in-series-a-round\/"},"modified":"2024-12-24T04:19:40","modified_gmt":"2024-12-24T04:19:40","slug":"avalon-labs-raises-10m-in-series-a-round","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2024\/12\/24\/avalon-labs-raises-10m-in-series-a-round\/","title":{"rendered":"Avalon Labs raises $10m in series A round"},"content":{"rendered":"<p>Avalon Labs, the issuer of <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin (BTC)<\/a>-backed stablecoin USDa, has secured $10 million in a Series A financing round that attracted several venture capital firms.<\/p>\n<p>\u201cWe are known for many things but today is not about us. The team from Avalon Finance is honored to announce the closing of our 10M Series A Round,\u201d the platform <a href=\"https:\/\/x.com\/avalonfinance_\/status\/1871201621193158903\" target=\"_blank\">posted<\/a> on X.<\/p>\n<p>Avalon Labs,<\/p>\n<p>the Omnichain Liquidity for <a href=\"https:\/\/twitter.com\/search?q=%24BTCFi&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTCFi<\/a><br \/>the Bitcoin Money \u2013 <a href=\"https:\/\/twitter.com\/search?q=%24USDa&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDa<\/a><br \/>the largest lending market in the <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> ecosystem<\/p>\n<p>We are known for many things but today is not about us. The team from <a href=\"https:\/\/twitter.com\/avalonfinance_?ref_src=twsrc%5Etfw\">@avalonfinance_<\/a> is honored to announce the closing of our 10M Series A Round, led by\u2026 <a href=\"https:\/\/t.co\/22TPMDE6iu\">pic.twitter.com\/22TPMDE6iu<\/a><\/p>\n<p>\u2014 Avalon Labs \ud83c\udfa9\ud83d\udd2e (@avalonfinance_) <a href=\"https:\/\/twitter.com\/avalonfinance_\/status\/1871201621193158903?ref_src=twsrc%5Etfw\">December 23, 2024<\/a><\/p>\n\n<p>Venture capital firm Framework Ventures led the funding round, which attracted the participation of UXTO Management, Prestoby Framework Ventures and Kenetic Capital.<\/p>\n<p>In an announcement, the Avalon Labs team said the project will use the funding support to expand its BTC decentralized finance ecosystem.<\/p>\n<p>In this case, Avalon\u2019s aim is to evolve Bitcoin from being just a digital store of value to a robust financial instrument.<\/p>\n<p>\u201cWe are pioneering the future of Bitcoin-backed financial solutions, creating the first comprehensive ecosystem that unlocks the true potential of the world\u2019s leading cryptocurrency\u201d the Avalon team wrote.<\/p>\n<p>Avalon\u2019s USDa stablecoin allows users to tap into DeFi on Bitcoin by collateralizing it. The platform\u2019s borrowing rate is fixed at 8%, which allows USDa holders to access liquidity while keeping their BTC positions.<\/p>\n<p>USDa, Avalon\u2019s flagship collateralized debt position (CDP), ranks as the second-largest CDP per <a href=\"https:\/\/defillama.com\/protocol\/avalon-usda#information\" target=\"_blank\">data from DeFiLlama<\/a>. Its TVL hit $700 million in early December and its competitors include MakerDAO\u2019s DAI and Liquity<\/p>\n<p>The post <a href=\"https:\/\/coinjournal.net\/news\/avalon-labs-raises-10m-in-series-a-round\/\">Avalon Labs raises $10m in series A round<\/a> appeared first on <a href=\"https:\/\/coinjournal.net\/\">CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Avalon Labs, the issuer of Bitcoin (BTC)-backed stablecoin USDa, has secured $10 million in a Series A financing round that attracted several venture capital firms. \u201cWe are known for many things but today is not about us. The team from Avalon Finance is honored to announce the closing of our 10M Series A Round,\u201d the [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":2130,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-2129","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=2129"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2129\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/2130"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=2129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=2129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=2129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}