encryption revenue protocol developer Avant completed a $6.5 million seed round financing, with participation from Superlayer, etc.

CoinVoice has learned that the developer of encryption yield protocol, Avant, has completed a $6.5 million seed round of financing, with a post-investment valuation of $25 million, with participation from Superlayer, Avalaunch, GoGoPool, Daybreak Digital, and Linda Kreitzman. Founder Rhett Shipp stated that Avant was founded in June this year, began informal discussions with investors in May, but formally started financing in October and concluded earlier this month.

It is reported that Avant issuance a "stable value" Token called avUSD, which can be obtained through stake to get savUSD (the profit version of avUSD). Avant Protocol is still in the early stages and operates in an "early access" mode, allowing only a selected group of AllowlistAddressmint and stake avUSD. Shipp said: "The Allowlist will be expanded in the coming weeks." He also added that avUSD and savUSD are planned to be fully released in December. (The Block) [Original link]