⚡ Avalon Labs Raised $10M to Grow Its Bitcoin DeFi Ecosystem
posted 16 hr ago
Avalon Labs, a startup focused on growing BTCFi (Bitcoin DeFi), announced that it raised $10 million in a Series A funding round led by crypto VC Framework Ventures. Participants included Kenetic Capital, UTXO Management, SNZ Holding, and others.
In an X post, Avalon stated their mission to “transform Bitcoin from a static store of value into a dynamic financial powerhouse.”
The startup stands behind Bitcoin-backed financial solutions, including the USD stablecoin, a DeFi lending protocol, and an omnichain liquidity aggregator.
Avalon Labs launched its USD stablecoin on LayerZero in November 2024 to allow Bitcoin holders access to liquidity without selling their assets. By providing their USD stablecoins as collateral to Avalon Finance, users can get a fixed borrowing rate of 8%.
Data from DefiLlama shows that USD is currently one of the largest 20 stablecoins, with a market cap of over $242 million. Avalon also has its native governance token, AVAF, which users can lock in to vote on protocol proposals.
According to the official website, Avalon’s unique active addresses are over 200,000, while the total value locked in the platform is over $2 billion.
Bitcoin-backed financial solutions are currently in high demand. Bitcoin DeFi aims to combine the security and trust of Bitcoin with the flexibility of DeFi protocols, creating opportunities for lending, borrowing, trading, and earning yield – all while keeping Bitcoin at the heart of it.
Avalon Labs launched its USD stablecoin on LayerZero in November 2024 to allow Bitcoin holders access to liquidity without selling their assets. By providing their USD stablecoins as collateral to Avalon Finance, users can get a fixed borrowing rate of 8%.
Data from DefiLlama shows that USD is currently one of the largest 20 stablecoins, with a market cap of over $242 million. Avalon also has its native governance token, AVAF, which users can lock in to vote on protocol proposals.
According to the official website, Avalon’s unique active addresses are over 200,000, while the total value locked in the platform is over $2 billion.
Bitcoin-backed financial solutions are currently in high demand. Bitcoin DeFi aims to combine the security and trust of Bitcoin with the flexibility of DeFi protocols, creating opportunities for lending, borrowing, trading, and earning yield – all while keeping Bitcoin at the heart of it.
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