Avalon Labs has secured $10 million in Series A funding from investors such as Binance Labs and Kraken Ventures. This funding will be used to further develop the Usual protocol, a decentralized stablecoin that aims to redefine the stablecoin market.
The Usual protocol is unique in its community-first approach, allocating 90% of its tokens to the community and empowering users with governance rights and revenue sharing.
The protocol also introduces a decentralized stablecoin, USD0, backed by real-world assets like US Treasury Bills. This backing provides enhanced security and liquidity.
The investment from Binance Labs is part of their strategy to support projects that align with their vision for the future of finance. The funding will not only support Usual's mission but also enhance the adoption of DeFi solutions.
The recent surge in trading volume for the USUAL token highlights the growing interest in the project and the broader trend of investors seeking out innovative and community-driven projects. The Usual protocol is now available to users through Binance Launchpool, providing opportunities for user engagement and rewards.
With strategic investments, innovative technology, and a community-centric approach, Usual is well-positioned to meet the demand for stablecoins and DeFi solutions in the cryptocurrency market.