Volt Protocol Raises $2 Million for 'Inflation-Resistant Stablecoin'
By pegging to an inflation index rather than a fiat currency, Volt aims to help DeFi users maintain their purchasing power.2022 has seen a wave of venture capital money pouring into the blockchain industry. Last week, NEAR Protocol announced it had raised $350 million in new funding, and last month, Nova Labs raised $200 million.
Smaller raises may be less eye-catching but equally important. A new project, Volt Protocol, is looking to create a spark within the stablecoin industry with a $2 million seed round co-led by venture capital firm Framework Ventures and Nascent, a team of DeFi builders and investors.Founded last April, Volt Protocol calls itself “a decentralized, inflation-resistant stablecoin.” Its protocol tracks the Consumer Price Index (CPI) released by the U.S. Bureau of Labor Statistics instead of being pegged to a fiat currency.
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