Elixir Labs launches deUSD with $1 billion liquidity, positioning it as a strong competitor to Ethena’s USDe.
Points
- Elixir Labs supports deUSD with $1 billion in liquidity.
- Elixir’s valuation reaches $800 million after Series B funding.
- The Apothecary initiative and upcoming mainnet launch generate excitement.
Elixir Labs founder and CEO Philip Forte made the following statement:
Elixir receives support from DeFi platforms like Pendle, which create and tokenize a market for Elixir’s Apothecary initiative, a point-based system for tracking user contributions to the network. Additionally, it is said to have $1 billion in liquidity to support the new yield-generating token.
Following the Apothecary program in March, Elixir stated that over $300 million in assets were locked in addition to the $1 billion committed for deUSD, generating excitement for the mainnet launch expected in September.
Elixir and $800 Million Valuation
In March, when Elixir unveiled Apothecary, it announced the completion of an $8 million Series B funding round led by Sui blockchain developer Mysten Labs and Arthur Hayes’ family office Maelstrom.
With the latest capital injection, the project’s valuation reached $800 million, bringing it close to unicorn status. This marks an eightfold increase in valuation since the $7.5 million Series A round led by Hack VC in October 2023.
Following a $2.1 million seed round in January 2022, Elixir has raised over $17 million in total funding.
解説
- Elixir’s deUSD offers a competitive alternative to Ethena’s USDe with substantial liquidity support.
- Series B funding significantly boosts Elixir’s valuation, indicating strong market confidence.
- The Apothecary initiative and mainnet launch are key milestones for Elixir’s growth.