2 days ago
Resolv Labs, the steadfast down the $450 cardinal decentralized concern (DeFi) protocol Resolv, has closed a $10 cardinal effect circular to grow its crypto-native output level and USR stablecoin, the squad told CoinDesk successful an exclusive interview.
The concern circular was led by Cyber.Fund and Maven11, with further backing from Coinbase Ventures, Susquehanna's subsidiary SCB Limited, Arrington Capital, Gumi Cryptos, NoLimit Holdings, Robot Ventures, Animoca Ventures and others.
Stablecoins, a $230 cardinal and rapidly expanding people of cryptocurrencies with pegged prices to an outer asset, are capturing attraction good beyond their accepted usage successful payments and trading. A increasing cadre of crypto protocols connection yield-bearing stablecoins oregon "synthetic dollars," wrapping divers concern strategies into a integer token with a unchangeable terms and passing connected portion of the net to holders.
"I presumption stablecoins arsenic the cleanable rails for output distribution," Ivan Kozlov, laminitis and CEO of Resolv, said successful an interrogation with CoinDesk. "This whitethorn really go larger than transaction stablecoins similar [Tether's] USDT successful the future."
The astir notable illustration of the inclination is Ethena's $5 cardinal USDe token, which chiefly pursues a delta-neutral presumption by holding cryptocurrencies similar BTC, ETH and SOL and simultaneously shorting adjacent size of perpetual futures, scooping up output from backing rates.
Resolv besides pursues a akin strategy: its USR token, anchored to $1, is simply a delta-neutral stablecoin designed to present unchangeable yields from crypto markets, portion shielding holders from crisp terms swings.
The protocol achieves this by splitting hazard betwixt 2 layers, inspired by Kozlov's inheritance successful structured products successful accepted finance. USR stablecoin holders beryllium successful the little risky elder tranche earning unchangeable but little yields, with risk-tolerant investors successful the protocol’s security furniture represented by the RLP token with floating price. This model, borrowed from structured finance, aims to marque crypto yields much predictable without sacrificing decentralization, Kozlov explained.
Following its motorboat successful September 2024, the protocol rapidly ballooned to implicit $600 cardinal successful assets driven by charismatic yields during the crypto rally aft Donald Trump's predetermination victory, DefiLlama data shows. However, arsenic markets turned bearish and yields compressed, Resolv's full worth locked (TVL) besides slid astir $450 cardinal this month.
With the caller superior raise, Resolv plans to grow its output sources to see bitcoin (BTC)-based strategies and deepening its integrations with organization integer plus managers, Kozlov said. The protocol besides aims to grow to caller blockchains, widening its scope beyond aboriginal crypto adopters.
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