Cryptocurrency yield protocol developer Avant has completed a $6.5 million seed round financing, with participation from Superlayer and others

ChainCatcher news, the crypto 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, began informal discussions 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 staked to earn 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. Shipp mentioned, "The 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)