ChainCatcher news, cryptocurrency yield protocol developer Avant has completed a $6.5 million seed round financing, with a post-money valuation of $25 million, with participation from Superlayer, Avalaunch, GoGoPool, Daybreak Digital, and Linda Kreitzman. Founder Rhett Shipp stated that Avant was established in June of this year and began informal talks with investors in May, but officially started fundraising in October and concluded earlier this month.
According to reports, Avant has issued a 'stable value' token called avUSD, which can be earned through staking savUSD (the yield version of avUSD). The Avant Protocol is still in its early stages and operates in an 'early access' mode, allowing only a select group of whitelisted addresses to mint and stake avUSD. Shipp stated, 'This whitelist will expand in the coming weeks.' He also added that avUSD and savUSD are planned for a full public release in December. (The Block)