Today, Novastro – a trailblazing platform for tokenizing, trading, and generating yields on Layer2 Real World Asset (RWA) chain building tokens – announced that it has successfully secured $1.2 million in its seed funding round. The primary investor for this round is Woodstock, with additional investments coming from Faculty Group, Double Peak Group, Cogitent, X21, and Sam Tapaliya.
With Novastro Chain, users can tap into tokenized returns and trading possibilities tied to Real-World assets, spanning both EVM and Non-EVM Chains. The platform has shown remarkable growth during its Testnet V1 phase, amassing a total value locked of over $25 million, welcoming 400,000 users, and handling more than 2 million transactions on the network.
In addition, Novastro has declared they’ll join Movement Labs’ accelerator program, known as the Move Collective. This means they’ll be among the pioneers creating and launching solutions on the Movement Network. By doing so, they aim to introduce their advanced yield technology to the robust blockchain system that Movement offers.
Shreedhar Shreenivasa, CEO of Novastro, stated that this funding helps advance our goal of transforming the way people interact with and optimize returns from RWAs within the blockchain community. By facilitating tokenized access to yield and trading opportunities from real-world assets, we are addressing a significant capital efficiency challenge for users. Leveraging Movement Network’s infrastructure enables us to offer this solution with unmatched scalability and minimal transaction fees, paving the way for rapid growth of our RWA trading and yield platform.
With the linkup to Movement, Novastro plans to establish a Layer 2 blockchain that can accommodate both Move and Solidity smart contracts. This connection takes advantage of Movement’s sophisticated infrastructure to provide unparalleled scalability, top-tier security, and significantly lower transaction fees. Users will gain access to advanced cross-chain liquidity options and effortless compatibility between the Move and EVM ecosystems.
For more information about Novastro and its RWAfi solutions, visit Novastro.xyz
About Novastro
Novastro functions as a Layer 2 platform for Real-World Asset (RWA) solutions supported by artificial intelligence. It combines MoveVM and EigenLayer AVS, offering Ethereum-like security alongside Move’s scalability. This combination opens up tokenized earning possibilities across RWAs and DeFi protocols. The Novastro network primarily revolves around the $RUSD stablecoin, which is tailored for Real World Assets. It facilitates smooth tokenization, trading, and yield creation. Novastro provides comprehensive turnkey tokenization services that are fully compliant with regulations, catering to projects aiming to tokenize various types of RWAs.
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2025-01-09 16:53