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DeFi Strategy Platform XSY.fi Completes $5 Million Pre-A Round of Financing
2025-05-16 01:35:04

Odaily News According to The Defiant, DeFi strategy platform XSY.fi launched a beta version of the synthetic USD stablecoin Unity (UTY) on the Avalanche blockchain and announced the completion of a $5 million Pre-A round of financing, led by Protagonist Ventures and Borderless Capital, with participation from Paper Ventures, Chainview Capital, Blizzard the Avalanche Fund, and Sonic Boom Ventures.
Users can mint UTY by staking AVAX, and obtain passive income while maintaining the original asset exposure. UTY uses automated strategies to manage market risks without the need for active user operations. The Chief Business Officer of Ava Labs said that this product will enrich the DeFi tool portfolio of the Avalanche ecosystem. XSY also launched a limited-time points plan, where users can accumulate points through minting, providing liquidity, and other behaviors, which can be redeemed for governance rights in the future.