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Bitvault Secures $2M From GSR, Gemini, And Auros To Power Bitcoin-Backed Stablecoin Ecosystem
- BitVault, a DeFi protocol, raised $2 million in funding from investors like GSR, Gemini, Auros, and Keyrock.
- The funding will support the launch of bvUSD, a stablecoin backed by Bitcoin derivatives, and its yield-generating counterpart, sbvUSD.
- BitVault aims to offer a decentralized and resilient alternative to traditional stablecoins like USDC.
- bvUSD is collateralized by Bitcoin derivatives, allowing institutional borrowers to mint in large volumes and retail users in small amounts.
- sbvUSD generates yield through trading strategies by GSR and is launched on Katana, a DeFi-centric blockchain.
- BitVault's infrastructure includes governance through the VCRAFT token and partnerships with VaultCraft, Morpho, Sushi, and a loyalty campaign.
- The protocol plans to expand its suite of stablecoins and onboard more institutional borrowers for growth and liquidity.
- BitVault offers a secure and sustainable alternative to traditional stablecoins and volatile algorithmic designs.
- Mainnet deployment is scheduled for June 2025, positioning BitVault as a key player in the DeFi space.
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