Duet Protocol closes first-round funding at $3 million

Duet Investors

We are excited to announce today the closure of US$3 million first-round funding of the world’s first multi-chain synthetic asset protocol with a hybrid mechanism of over-collateralization and algorithm stabilization.

The first-round investors include OmniLAB, DraperDragon, BIT Digital Inc(NASDAQ:BTBT),Everest Ventures Group, One Block Capital, Moonwhale Ventures, Dutch Crypto Investors, LD Capital, Zonff Partners, Cabin VC, ArkStream Capital, individual investors include the partners of A&T Capital.

OmniLAB is the investment fund that backed the world’s first stablecoin (on OmniLayer) circulation specification for Lightning Network.

DraperDragon Innovation Fund is a core member of Draper Venture Network and mainly focuses on investing in US-China cross-border startups.

In the coming days, Duet is going to announce the second round of investors and regional partners from around the globe.

Duet’s innovative dual synthesis model can greatly improve the capital efficiency of user’s funds. The vision of Duet Protocol is to build an on-chain parallel space governed by DAO that enables the on-off ramp of Flat Assets(Traditional Assets) and Sharp Assets(Crypto Assets).

With Duet, the global investors would be able to create and allocate capital to any assets with only one digital wallet in a frictionless and user-friendly manner.

For latest update and exciting new, stay tuned @Duet~

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LD Capital

We are one of earliest VC investors in the Blockchain field in Asia. We focus on : Innovation projects within finance, games, content publishing and IOT