According to Odaily, Ducat, a Bitcoin native stablecoin project, has announced the completion of a $1.25 million pre-seed funding round on the X platform. The round was led by UTXO Management, with participation from THE CMS, Bitcoin Frontier Fund, Revelo Intel, MARIN DIGITAL VENTURES, Samara Asset Group, ₿itcoin Startup Lab, Bitflow, and X+.
Ducat aims to address the centralization issues in the stablecoin market by offering a Bitcoin-native, self-custodial, and permissionless smart contract system. The project utilizes its governance token, DUCAT, to provide a stablecoin solution that combines Bitcoin's censorship resistance with decentralized native collateral.
