Astra Protocol is thrilled to announce it has raised $9 million in its private sale to help in building its compliance layer. As things are progressively advancing for the platform, it has also secured solid backings from top-tier investment groups and individuals.
Some of the esteemed investors in the project include Republic, DAOMaker, Fundamental Labs, Faculty, Richard Dai, and Wave GP Cardano.
Jonathan Han, Partner at Republic commenting on the fundraising said:
“We believe Astra’s solution is a key part of the critical movement for DeFi to become mainstream. We are excited to back the Astra team who works diligently to bring the benefits of DeFi to more people and organizations”.
Astra Protocol has secured further globally recognized partnerships with the world’s leading legal and auditing firms. Arthur Ali, Astra Protocol Co-Founder also commented, saying:
“We are extremely pleased to announce the closure of our token raise and proud to announce strong backing from the top tier investment groups and individuals and institutional backing. We firmly believe that ASTRA is key to the future of DeFi. It will allow us to unlock the next path of growth in the industry, allowing more compliant practices across multiple countries and ensuring further participation from major traditional institutions. Our globally patented technology will seamlessly allow DeFi to continue its growth whilst promoting greater confidence from regulators without compromising decentralization.”
The main focus of the project is to equip all DeFi Smart contracts with a fully decentralized compliance layer. This layer also offers the services of Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) capabilities to act as tools for resolving real-world compliance issues using the expertise of trusted legal firms.
As DeFi continues to grow, it needs to adhere strictly to rules determined by society but the majority of protocols on the market today do not provide this functionality yet. Without a compliance layer, developers and users may lose control of the ecosystem.
Moreso, without a powerful on-chain dispute resolution platform, De-Fi is too high risk. Astra Protocol offers a reliable legal assurance framework, dispute resolution, and regulatory compliance for lending and borrowing, derivatives, stablecoins, asset management, decentralized insurance, and decentralized exchanges. This is an onchain dispute resolution system that is particularly for decentralized finance and all the risks that come with it.
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