Building a Move-native tech stack, combining an over-collateralised stablecoin, Move Dollar, and an automated market maker
- Adam Cader, CEO, and San Lee, Business Lead
- Ontario, Canada
- October 2022
Through its monetary policy, collateral mobilization, and associated automated market maker providing liquidity, Thala solves the decentralized stablecoin trilemma of peg stability, security and capital efficiency.
The team at Thala is extremely talented, with experience ranging from crypto-native and traditional tech backgrounds, including work at ParaFi Capital, NEAR, MakerDAO, Twitter, Apple, Amazon, and Google. We’re delighted to be backing them.
Aptos and Sui are two multi-billion dollar Layer 1s that entered the crypto scene this year, building excitement for the scalable future of blockchain technology. They use a new smart contract coding language: Move. A language developed at Meta when they entered into the peer-to-peer payments foray and wanted to build a permissioned blockchain-based stablecoin payment system, which they named Diem. Thala is building the first Move-native stablecoin, Move Dollar (MOD) - a fully-collateralised, yield-bearing stablecoin backed by a basket of on-chain assets. Through its monetary policy, collateral mobilization, and associated automated market maker providing liquidity, Thala solves the decentralized stablecoin trilemma of peg stability, security and capital efficiency.Read the post
Decentralized finance company Thala Labs raised $6 million to build on buzzy new Layer 1 blockchain Aptos. The seed round is co-led by ParaFi Capital, White Star Capital and Shima Capital, according to a company announcement. Other investors include Beco Capital, LedgerPrime, Saison Capital and Infinity Ventures Crypto.