January 10, 2025
Novastro, a Layer 2 blockchain platform focused on Real World Asset (RWA) tokenization and yield optimization, has closed a $1.2 million seed funding round, led by Woodstock. Other contributors to the round include Faculty Group, Double Peak Group, Cogitent, X21, and Sam Tapaliya. This funding will advance Novastro's efforts to develop tokenization, trading, and yield generation solutions for RWAs on the Move ecosystem.
The platform uses AI-powered analytics to enhance the yield generation process, offering real-time tracking of asset performance and market trends. Novastro's technology aims to simplify yield farming and staking, providing more efficient solutions for its users. In its Testnet V1 phase, the platform locked over $25 million in value, attracted 400,000 users, and processed more than 2 million transactions.
In addition to this funding, Novastro will join Movement Labs' accelerator program, the Move Collective, to build on the Movement Network. The integration with this network will enable Novastro to leverage Movement's infrastructure to create a Layer 2 blockchain supporting both Move and Solidity smart contracts. The collaboration aims to provide enhanced scalability, security, and lower transaction costs, facilitating the platform’s growth in the RWA trading and yield sector.
About Novastro
Novastro is a Layer 2 blockchain designed to support the tokenization, trading, and yield generation of Real World Assets (RWAs). Using AI and integrating MoveVM and EigenLayer AVS, Novastro offers secure, scalable solutions for RWA tokenization. Its ecosystem is anchored around $RUSD, a stablecoin tailored for RWAs, and it provides regulatory-compliant tokenization services for various asset types.
Website: https://www.novastro.xyz/
X: @Novastro_xyz
About Investor
Woodstock
Woodstock is a venture capital firm that focuses on investments in blockchain-based companies, with particular interest in decentralized finance (DeFi) and blockchain infrastructure. Woodstock supports early-stage projects that contribute to advancements in the blockchain ecosystem.
Location: Dubai, United Arab Emirates
Website: https://woodstockfund.com/
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