David Garcia

Polymorphic Capital

Prismatic

xBacked

Jump Crypto

0xVentures

Venue One

Tinyman

Meld Ventures

Valhalla Capital

Algomint

OKX Ventures

Algorand Foundation

StakerDAO

Calvin Liu

ParaFi Capital

Genesis Global Capital

ZBS Capital

Eterna Capital

Borderless Capital

Lancer Capital

Youbi Capital

GAINS Associates

Coinbase Ventures

Italy

Folks Finance

xBacked DAO, Makers of decentralized stable assets on Algorand. It is a Distributed Autonomous Organization (DAO) building a suite of decentralized stablecoins on Algorand beginning with xUSD. Unlike Tether or USDC, xUSD is backed by crypto assets (similar to DAI in Ethereum).

Building a decentralized stablecoin on Algorand makes a lot of sense. It is a Pure Proof of Stake Layer 1 protocol with instant finality, 4.5s block times and is moving to a decentralized governance model by the end of 2021. Their barrier to entry for running a node is also very low compared to Layer 1s like Solana.

No other blockchain ecosystem can offer these unique properties - which means we can build something unique.

Algorand

Portfolio

CypherHunter Plus

xBacked

Funding Rounds

Co-Investors