Next-gen algorithmic stablecoin platform TiTi Protocol and NFT innovator Fuku have joined the new round of Alpha Venture DAO's VC initiative to accomplish new groundbreaking milestones.
Alpha Venture DAO onboards TiTi Protocol and Fuku to its incubation program
According to the official announcement shared by the representatives of Alpha Venture DAO, its VC funding program, welcomes two new members from the segments of DeFi and NFTs.
TiTi Protocol addresses the sphere of decentralized stablecoins and Fuku platform brings NFT trading and DeFi operations together. They are now incubated by Alpha Venture DAO.
TiTi Protocol's flagship product is TiUSD, a decentralized multi-asset reserve-backed use-to-earn algorithmic stablecoin. It addresses the major drawbacks of modern centralized stablecoins, including the likes of USDT and USDC.
Also, it allows TiUSD holders to be rewarded for holding and using stablecoins. Recently, the project yielded $3.5 million in seed funding from Spartan Group, SevenX Ventures, DeFi Alliance, Solidity Venture and other high-profile VCs and angel investors.
Jason Choi, lead partner at The Spartan Group, welcomes the new phase of TiTi Protocol growth:
Algorithmic stablecoins are often susceptible to de-pegging risk and poor liquidity. TiTi Protocol provides a solution to this with its built-in multi-asset AMM to ensure TiUSD is fully collateralized and can be redeemed at any time. As an Alpha Venture DAO project, Titi is backed by the strength of Alpha Finance’s ecosystem and we are excited to support TiTi’s team to provide users with one of the first use-to-earn stablecoins in the space.
Alpha Venture DAO launches hackathon together with Terra
Fuku is a pioneering NFT marketplace designed to allow users to trade NFTs and get access to DeFi protocols without leaving a single application.
As such, NFTs can be seamlessly deposited into DeFi protocols just like "regular" crypto assets. To release its products, Fuku raised $400,000 in pre-seed funding from top NFT investors.
Also, together with a new incubation announcement, Alpha Venture DAO opens registration for a joint hackathon with Terra (LUNA), the world's fastest-growing smart contracts ecosystem. The registration campaign kicked off on April 12; projects can apply until May 10, 2022.
As covered by U.Today previously, Alpha Finance Lab rebranded to Alpha Ventures DAO in order to introduce a new procedure for funding and growing early-stage crypto products.