Alvara Protocol, a London, UK-based provider of a platform aimed at democratizing asset management within the DeFi space, raised $10M in funding.
The round was led by Nimbus Capital.
The company intends to use the funds to further accelerate the development of intelligent solutions that enhance the security of DeFi while providing intuitive user experiences to a broader market.
Alvara is building the infrastructure for the decentralization of tokenized basket management utilizing the new ERC-7621 basket token standard. At the core of its ecosystem is its BTS Factory, providing fund managers with the ability to design their own on-chain funds and mint BTS (Basket Token Standard) tokens. Investors will be able to contribute to and redeem from any BTS fund minted on-chain. When investors contribute to a BTS, they receive LP tokens which, in addition to representing their stake, play a crucial role in the governance revolving around every BTS fund.
FinSMEs
22/10/2024