PANews reported on October 23 that according to The Block, Fluid Protocol completed a $3.9 million seed round of financing, which was participated by Bloccelerate, Animoca Ventures, CMS Holdings, Maelstrom, Veil VC, Builder Capital, Infinity Ventures, RockTree Capital, Wise3 Ventures, Stake Capital, Relayer Capital, etc. Angel investors participating in this financing include Meltem Demirors, Kartik Talwar, Cami Ramos Garzon, Mike Silagadze, Alan Curtis and Ben Lakoff. The seed round of funds will accelerate the development and launch of Fuel Network's native stablecoin USDF, fund security audits to ensure the security of the protocol, and expand the team.
According to reports, Fluid Protocol is an over-collateralized, decentralized lending platform built specifically for Fuel Network. The flagship product USDF is an over-collateralized native stablecoin soft-pegged to the US dollar. Fluid is expected to be launched on the mainnet soon.
