According to Deep Tide TechFlow news on June 18, Cointelegraph reported that the DeFi protocol BitVault announced the completion of a $2 million pre-seed funding round, with investors including GSR, Gemini, Auros, and Keyrock.
BitVault will launch the over-collateralized stablecoin bvUSD supported by Bitcoin derivatives and its yield-bearing variant sbvUSD. The protocol will be deployed on the new decentralized finance chain Katana, incubated by Polygon Labs and GSR, utilizing the authorized fork of Liquity V2 to achieve permissioned lending, user-defined interest rates, and automatic liquidation infrastructure.
BitVault plans to deploy on the Katana mainnet in June 2025 and is actively onboarding institutional borrowers.
