Quick take:
Resolv Labs co-founder and CEO Ivan Kozlov leverages his experience in structured products in traditional finance to offer two tokens for different types of investors.
The USR token is designed to deliver stable yields from crypto markets while protecting holders from sharp price swings.
The RLP token is designed for risk-tolerant investors in the protocol’s insurance layer.
Resolv Labs has raised $10 million in a seed round led by Cyber.Fund and Maven11, with participation from Coinbase Ventures, SCB Limited, Arrington Capital, and Animoca Ventures.
The company plans to use the capital to scale its yield-bearing stablecoin protocol, Resolv, which boasts $434 million in total value locked, according to DeFiLlama data.
The protocol offers two types of tokens, inspired by co-founder and CEO Ivan Kozlov’s background in structured products in traditional finance, essentially splitting the risk between two layers.
The USR stablecoin token is designed to deliver stable yields from crypto markets while protecting holders from sharp price swings, thus presenting the less risky tranche, while the RLP token, which features a floating price, is designed for risk-tolerant investors in the protocol’s insurance layer.
“I view stablecoins as the perfect rails for yield distribution,” Ivan Kozlov, founder and CEO of Resolv, said in an interview with CoinDesk. “This may actually become larger than transaction stablecoins like [Tether’s] USDT in the future.”
The announcement comes amid rising buzz around yield-generating stablecoins, also sometimes referred to as “synthetic dollars”. The most popular token in this category is Ethena’s USDe, which boasts $4.88 billion in total circulating value, according to CoinMarketCap data.
Some Web3 companies are now developing products that are specifically designed for stablecoins. Codex recently raised $15.8 million in a funding round led by Dragonfly to build a blockchain that focuses on stablecoins, while Cap, which raised $8 million, is building a “stablecoin engine” that allows users to generate passive interest (yield) from other tokens.
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