XSY Launches Avalanche-Based Stablecoin Unity (UTY) With $5 Million in Pre-Seed Funding

• XSY.fi launches Unity (UTY) dollar-pegged stablecoin on Avalanche (AVAX)
• Offseting gap between DeFi and TradFi with new-gen stablecoins XSY.fi, a capital management platform streamlining access to advanced DeFi strategies, announced today the beta roll-out of its flagship product, Unity (UTY), on the Avalanche (AVAX) blockchain network. Also, the platform shared the results of its fundraising.

XSY.fi launches Unity (UTY) dollar-pegged stablecoin on Avalanche (AVAX)

XSY.fi, a multi-service DeFi ecosystem, announced earlier today that its flagship product, Unity (UTY), a USD-pegged stablecoin, is live in beta on Avalanche (AVAX) blockchain. The platform also successfully completed its pre-seed funding round.

A total of $5 million was secured in a round led by Protagonist and Borderless Capital. Paper Ventures, Chainview Capital, Blizzard the Avalanche Fund, Sonic Boom Ventures and other strategic investors also backed XSY.fi in its fundraising efforts.

W. Sean Ford, CEO of XSY, is excited by both the beta release and fundraising and explains the motivation behind choosing Avalanche (AVAX):

DeFi has made extraordinary technical progress, but accessing complex, high-performing strategies remains fragmented and operationally intensive. Avalanche provides the speed, scalability, and composability that sophisticated DeFi strategies like Unity demand making it a natural foundation for our platform's debut.

Unity is a next-generation digital synthetic dollar engineered to unlock liquidity and capital efficiency within blockchain ecosystems

Constructed by pairing long spot holdings with short perpetual futures, Unity allows AVAX holders to maintain their existing AVAX exposure while accessing sustainable yield. Unity has already attracted over $20 million in commitments prior to beta release

Offseting gap between DeFi and TradFi with new-gen stablecoins

John Nahas, Chief Business Officer at Ava Labs, is thrilled by the prospects of the new stablecoin in the Avalanche (AVAX) ecosystem:

We’re excited to welcome XSY to the Avalanche community. By delivering institutional-grade yield on Avalanche’s high-throughput, interoperable network, XSY.fi bridges DeFi and TradFi. Real-world financial infrastructure is being built on Avalanche with a focus on long term innovation.

Unity strengthens Avalanche’s liquidity depth and fuels sustainable ecosystem growth by simplifying native capital deployment into complex DeFi strategies for treasuries, funds and individuals

During beta release, the first DeFi yield strategy available to early users is the delta-neutral yield strategy

Avalanche’s high-performance infrastructure, fast finality and deep native liquidity maintains that strategic capital deployed into Unity remains active, composable and seamlessly integrated within the ecosystem from day one.