Odaily Planet Daily reported that the DeFi protocol BitVault has 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, along with its yield-bearing variant sbvUSD. The protocol will be deployed on the new decentralized finance chain Katana, incubated by Polygon Labs and GSR, utilizing a permissioned fork of Liquity V2 to enable 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. (Cointelegraph)

#MATIC