Fast take:
Resolv Labs co-founder and CEO Ivan Kozlov leverages his expertise in structured merchandise in conventional finance to supply two tokens for several types of buyers.
The USR token is designed to ship steady yields from crypto markets whereas defending holders from sharp worth swings.
The RLP token is designed for risk-tolerant buyers within the protocol’s insurance coverage layer.
Resolv Labs has raised $10 million in a seed spherical led by Cyber.Fund and Maven11, with participation from Coinbase Ventures, SCB Restricted, Arrington Capital, and Animoca Ventures.
The corporate plans to make use of the capital to scale its yield-bearing stablecoin protocol, Resolv, which boasts $434 million in whole worth locked, in keeping with DeFiLlama information.
The protocol affords two kinds of tokens, impressed by co-founder and CEO Ivan Kozlov’s background in structured merchandise in conventional finance, primarily splitting the chance between two layers.
The USR stablecoin token is designed to ship steady yields from crypto markets whereas defending holders from sharp worth swings, thus presenting the much less dangerous tranche, whereas the RLP token, which includes a floating worth, is designed for risk-tolerant buyers within the protocol’s insurance coverage layer.
“I view stablecoins as the right rails for yield distribution,” Ivan Kozlov, founder and CEO of Resolv, mentioned in an interview with CoinDesk. “This will likely truly change into bigger than transaction stablecoins like [Tether’s] USDT sooner or later.”
The announcement comes amid rising buzz round yield-generating stablecoins, additionally generally known as “artificial {dollars}”. The most well-liked token on this class is Ethena’s USDe, which boasts $4.88 billion in whole circulating worth, in keeping with CoinMarketCap information.
Some Web3 firms at the moment are creating merchandise which are particularly designed for stablecoins. Codex just lately raised $15.8 million in a funding spherical led by Dragonfly to construct a blockchain that focuses on stablecoins, whereas Cap, which raised $8 million, is constructing a “stablecoin engine” that enables customers to generate passive curiosity (yield) from different tokens.
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