Shortly after Alpha Finance Labs announced a rebranding as Alpha Venture DAO, the Builders’ DAO announced the incubation of two new Web3-oriented initiatives – TiTi Protocol and Fuku. These development strategies promise to breathe new life into Web3 innovation.
10/ Hackathons:
Registrations for the @AlphaVentureDAO hackathon, including team formation and idea submissions are now available too!https://t.co/VOvqPLn9uh
— Terra (UST)
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(@terra_money) April 13, 2022
DeFi, Web3, and NFT
Alpha Venture DAO kicked off its initial steps towards Web3 development with the announcement of two new incubated projects – TiTi Protocol and Fuku. Under the partnership, TiTi Protocol and Fuku will receive entrepreneurial support and professional guidance in all possible ways and at every step of their development.
Alpha Finance Labs launched in 2020 and quickly became one of the decentralized finance (DeFi) ecosystems that achieve breakthrough growth since its release.
Early this month, Alpha Finance Labs introduced Alpha Ventures DAO, a new Builders’ DAO in partnership with Terra. The goal is to accelerate blockchain products and provide necessary resources for the growth of Web3 innovation across chains and sectors.
What’s Special About TiTi Protocol and Fuku?
The two incubated projects are focused on different aspects. While TiTi Protocol’s focal point is the building of unique algorithmic stablecoins, Fuku plans to be the first NFT marketplace linked to DeFi. DeFi and Web3 are at the common centre point of both projects
TiTi Protocol stands out with its unique design and one-stop infrastructure of Algorithmic Stablecoin, Multi-Assets-Reserve algorithm, and pegging system of the Reorders algorithm. TiUSD is the stablecoin issued by TiTi Protocol and backed by multi-asset reverses such as ETH, WBTC, or DAI.
Use-to-Earn can be understood as making money from stablecoin, meaning using stablecoin to make passive and active income. This model allows users to generate income by holding or using TiTi stablecoin. The Use-to-Earn will be key for long-term protocol growth, serving as the driving aspect of widespread acceptance.
TiUSD is an important part of TiTi-AMM, a new issuance model of stablecoin that potentially improves and stimulates liquidity, and scalability of stablecoins, and minimizes impermanent loss.
The incubation of the TiTi Protocol marked the first time Alpha Venture DAO has fostered a stablecoin project. The project previously fundraised $3.5 million from prominent investment firms including Spartan Group, SevenX Ventures, DeFi Alliance, Solidity Venture, and other VCs and individual investors.
Jason Choi, lead partner of The Spartan Group commented:
“Algorithmic stablecoins are often susceptible to de-pegging risk and poor liquidity. TiTi Protocol provides a solution to this with its built-in multi-asset AMM to ensure TiUSD is fully collateralized and can be redeemed at any time. As an Alpha Venture DAO project, Titi is backed by the strength of Alpha Finance’s ecosystem and we are excited to support TiTi’s team to provide users with one of the first use-to-earn stablecoins in the space.”
The incubator program also welcomes the participation of Fuku, a DeFi-composable NFT platform designed to connect NFT and DeFi and maximize the use of the connection. Simply put, users can trade NFTs and get access to DeFi protocols at the same time.
The goal is to make the best use of assets. To accomplish this, Fuku allows users to trade NFTs with the same assets they deposit on major DeFi protocols.
This significantly improves asset utility. Users will no longer have to sacrifice DeFi incentives in order to trade NFTs. Fuku’s ambitious goal is to become an NFT marketplace with the highest liquidity on NFT collections. Fuku plans to accomplish this by promoting active bidding in ways that no other marketplace can.
The centralized and defi-connected marketplace has debuted today. In addition, the team claimed that it has acquired $400,000 in pre-seed funding from key NFT investors. Following the initial achievement, Fuku is gearing up for its first private seed round, which is set to take place soon.
With two incubated projects, Alpha Venture DAO sets a goal for long-term development and multiple releases of potential products that bring value to Alpha’s ecosystem.
Alpha Venture DAO and Terra have extended the areas of their partnership by launching Terra-focused hackathons on April 13. Apart from the prizes, participants get opportunities to join forces with TiTi Protocol and Fuku in the incubation program or receive financial support from Terraform Labs, Hashed, and Coin98.
The post Alpha Venture DAO Launches Two New Web3-Oriented Projects appeared first on Blockonomi.
