Duet Protocol Announces New Investors Including GSR, DHVC and Raises the Total Funding to 5 Million USD
Singapore, Singapore--(Newsfile Corp. - March 9, 2022) - Duet Protocol, the world's first multi-chain synthetic asset protocol with a hybrid mechanism, announced on March 9th, 2022 its financing progress and new partners.
Previously, Duet had raised US$3 million from world-renowned investors including OmniLAB, DraperDragon, Everest Ventures Group, One Block Capital, Moonwhale Ventures, etc. Besides, there are some investors from exchanges, including MEXC, Bitmart, Foresight Ventures (Bitget) as well as individual investors such as partners of A&T Capital, the cofounder of a NASDAQ listed company, the founder of Mask Network Suji Yan and the founder of Digital Renaissance Foundation Cao Yin.
In this round of investment, Duet has raised an additional 2 million USD from the investors to take the raise to a total of 5 million USD. In this round of funding, Duet has received investments from the leading trading firm and financial service provider GSR and the venture capital DHVC as well as other investors including LucidBlue Ventures, 3Commas, Kernel Ventures, Consensus Lab, etc.
Duet protocol is a synthetic asset minter built on a Yield Aggregator that automates the process of yield farming, maximizes its returns, and releases additional liquidity to the users. The goal of the Duet project is to allow users to create any quoted asset on the chain, such as crypto, indices, stocks, commodities, futures and bonds, allowing all Web3 residents to allocate funds to any asset with just one crypto wallet.
In the short run, the receipt token holders can enhance their returns by utilizing stablecoins minted with Duet protocol. In the long run, Duet's vision for the Duet protocol is to be the entry point of liquidity providing, the reserve capital system that supplies liquidity to almost all DeFi protocols whilst generating a world of synthetic assets whose values are 120%+ backed by its reserves.
Contact: Feli Woo
Official Website: www.duet.finance
Email: contact@duet.finance
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