August 23, 2024
Ducat, a Bitcoin-native stablecoin project on Runes, has secured $1.25 million in Pre-Seed funding, led by UTXO Management and supported by several other investors including THE CMS, Bitcoin Frontier Fund, and Revelo Intel.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Ducat | $1.25M | August 23, 2024 | Pre-Seed Round | UTXO Management | Bitcoin |
The project aims to solve centralization issues in the stablecoin market by offering a Bitcoin-native, self-custodial, and permissionless smart contract system. This system aligns with Bitcoin holders’ preferences for security and autonomy. The governance token, DUCAT, provides a stablecoin solution that merges Bitcoin’s censorship resistance with decentralized native collateral.
About Ducat
Ducat is a decentralized stablecoin project built on Bitcoin. It aims to provide a stablecoin that is native to Bitcoin, self-custodial, and permissionless. This means it allows users to maintain control over their assets without relying on centralized entities. Ducat combines Bitcoin’s security and censorship resistance with decentralized collateral to offer a stable and autonomous financial solution.
Website: https://docs.ducatprotocol.com/
About Investor
Investor: UTXO Management
UTXO Management is a venture capital firm focused on the Bitcoin ecosystem. They leverage their extensive experience in the Bitcoin space to invest in both public and private market opportunities. Their mission is to support the growth of Bitcoin by funding startups that are pioneering advancements in this industry. UTXO Management provides capital, strategic guidance, and resources to help these startups succeed. They are committed to enhancing Bitcoin adoption through investments in infrastructure, technologies, and communities.
Location: Nashville, Tennessee
Website: https://www.utxo.management/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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