Stablecoin Developer Standard Money Completes $8M Funding Round, Lead by Yzi Labs
On November 3rd, Standard Money, the developer of the USDsd algorithmic stablecoin based on the BNB Chain, declared the accomplishment of an $8 million funding round. This strategic round was spearheaded by Yzi Labs, and was participated in by Gate.io, Crypto.com, and Animoca Brands. USDsd is a yield-optimizing algorithmic stablecoin that was inspired by Tether's USDT, which is the largest stablecoin in terms of market capitalization. The funds raised in this round will be utilized to support Standard Money's mainnet deployment and to expand its liquidity partnerships and global operations. Algorithmic stablecoins are a kind of token that maintains a peg to a target asset through smart contracts and economic incentives, and manages the circulating supply accordingly.
interesting move for Standard Money – $8M led by Yzi Labs signals strong backing for algorithmic stablecoins like USDsd. with the market hitting $230B+, this could accelerate DeFi liquidity on BNB Chain. reminds me of how USDT dominated early on
🎉 Thank you for holding LSTR tokens!
Your post has been automatically voted with 50% weight.
need some stake in the infrastructure of all of that. That might be a stable coin too !LOLZ
!BBH !PIZZA