Foresight News reported by The Block that the crypto yield protocol developer Avant has completed a $6.5 million seed round funding, with participation from Superlayer, Avalaunch, GoGoPool, Daybreak Digital, and Linda Kreitzman.
Avant has issued a stable value token called avUSD, which can be earned through staking to obtain savUSD (the yield version of avUSD). The Avant Protocol is still in its early stages, operating in an 'early access' mode that only allows a select group of whitelisted addresses to mint and stake avUSD. Avant founder Rhett Shipp stated, 'The whitelist will expand in the coming weeks, and avUSD and savUSD are scheduled for a full public release in December.'