Alpha Ventures Reveals Two New Web3-Oriented Projects
2022.04.14 16:16
Alpha Ventures Reveals Two New Web3-Oriented Projects
- Alpha Ventures announces two new web3-oriented projects.
- TiTi Protocol is expected to bring a unique design of algorithmic stablecoins.
- The second project, Fuku, will bridge the world of DeFi with NFT.
Alpha Venture DAO, a Builders’ DAO that aims to be a multi-chain decentralized application (DApp) ecosystem, has announced the launching of two new projects designed to support Web3 innovation across chains and sectors.
The first project, TiTi Protocol, is designed to be a decentralized multi-asset reserve-backed use-to-earn algorithmic stablecoin. The use-to-earn aspect of TiTi Protocol will stimulate the use-value of the stablecoin, paving the way for long-term protocol growth.
Users can earn both passive rewards by simply holding or using TiTi stablecoin. This stablecoin has the ticker TiUSD. As per the team, this will retain an independent monetary policy through its crypto-native infrastructure.
TiTi Protocol is expected to be the first stablecoin project incubated in the Alpha Venture DAO. The project has recently announced its $3.5 million funding round from Spartan Group, SevenX Ventures, DeFi Alliance, Solidity Venture, and other VCs and individual investors.
Jason Choi, lead partner at The Spartan Group, commented on the project:
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.
As for the second project, it was released under the name Fuku. Fuku is the first DeFi-composable NFT marketplace that allows users to trade NFTs and get access to DeFi protocols at the same time.
Fuku doubles the utility of those assets by enabling users to bid on NFTs using the same assets that are also deposited at the same time into leading DeFi protocols. The project’s mission is to become the NFT marketplace with the deepest liquidity on NFT collections. It also plans to achieve this by uniquely incentivizing active bids.
In addition, Fuku has raised $400,000 in pre-seed funding from top NFT investors. The company announced that preparations have begun for Fuku’s first private seed round, which will take place shortly.
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