TiTi Protocol, a Singapore-based multi-asset reserve stablecoin, on Tuesday announced a successful fundraising round of $3.5 million, led by The Spartan Group.
The round also saw the participation from SevenX Ventures, Incuba Alpha, DeFi Alliance, Agnostic Fund, Fourth Revolution Capital (4RCapital), Solidity Venture, and other institutions, as well as other individual investors including 0xb1 (Fold Finance), Tascha and Nipun (Alpha Venture DAO), and Michael (Fantom), TiTi Protocol said in a statement.
With this latest funding, TiTi Protocol aims to work with world-class investors to build the future of DeFi.
TiTi Protocol is a fully decentralized, multi-asset reserve-backed, use-to-earn algorithmic stablecoin that aims to provide diversified and decentralized financial services based on the crypto-native stablecoin system and autonomous monetary policy. Its unique design brings a new paradigm of algorithmic stablecoin solution to decentralized finance (DeFi) and Web3 that combines the Multi-Assets-Reserve mechanism and the peg mechanism of the Reorders algorithm. By doing so, it aims to take over the torch of algorithmic stablecoins and bring a brand new solution to DeFi and Web3 ecology.
TiTi Protocol’s most unique feature is that it can improve algorithmic stablecoins’ liquidity and user adoption on the premise of ensuring stability. It is based on a new stablecoin issuance paradigm that is impermanence loss free and has triple mining rewards due to its unique liquidity rebalance algorithm. Stablecoin users need not to worry about their assets being liquidated. Liquidity providers don’t need to open a position for TiUSD, TiTi’s stablecoin, when they would like to participate in liquidity mining. They only need to provide single sided liquidity to TiTi-AMMs because the protocol will do the math and mint equal value of TiUSD, thereby enhancing the liquidity of TiUSD.
TiTi Protocol’s new use-to-earn token economic design aims to boost algorithm stablecoin adoption and maximize the benefits for DeFi users, thus enabling the interoperability of algorithmic stablecoins with other DeFi projects. All this is only possible due to the research and experimentation of TiTi Protocol’s team in DeFi, especially the algorithm stablecoin track for several years.
Furthermore, the TiTi protocol is more than a stablecoin protocol, the stablecoin protocol is just the beginning. Its ultimate goal is to provide global users with diversified and DeFi services based on the crypto-native stablecoin system and autonomous monetary policy.