Stablecoin startup Agora receives $50 million in Series A funding led by Paradigm
PANews reported on July 10 that according to Fortune magazine, Agora, a stablecoin startup, announced that it had received a $ 50 million Series A funding led by blockchain venture capital giant Paradigm . Agora was co-founded by Nick van Eck , Drake Evans and Joe McGrady . It focuses on the AUSD stablecoin and helps other companies issue their own stablecoins through white label services. Agora 's current AUSD market value is $ 130 million, far lower than industry giants such as Tether and Circle , but the company said it will continue to focus on overseas markets to meet the demand for stablecoins brought about by cross-border payments and local currency fluctuations. In addition, Agora 's model also shares the income of US dollar assets with partners, aiming to encourage more financial institutions to participate in this field.
You May Also Like
XRP Enters ‘Washout Zone,’ Then Targets $30, Crypto Analyst Says
Republicans are 'very concerned about Texas' turning blue: GOP senator
Wormhole token soars following tokenomics overhaul, W reserve launch
Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more