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Astra Protocol collects $9million through its private sale

Astra Protocol

TL;DR Breakdown

  • On DEC. 22, 2021, Astra protocol announced collecting $9 M from their private sale round. 
  • The project owners also said that top-tier institutions and individuals showed great support.

Yesterday, the Astra team announced the successful private sale round that gave them a collection of $9 M. They also said that some of the main players were individuals and institutions that believe in their mission of improving DeFi.

Astra aims to bring decentralized compliance to DeFi. As a result, the protocol received support from institutions like Wave GP Cardano, DAO maker, Republic, and Faculty.

Astra protocol aims to develop decentralized compliance for Defi

Astra protocol aims at offering a decentralized compliance layer to DeFi smart contracts. The project is in its initial launch days, where it started with a successful private sale. The project’s innovative ideas are attracting key players and investors.

According to a partner at the Republic, Jonathan Han, Astra’s innovation is a significant move to support the development of DeFi. Han also said that the Republic is also amused to support Astra, bringing collective benefits to DeFi investors.

The Astra project co-founder, Arthur Ali, also said that his team is happy to announce that the token raise round is over and thanks to all investors. He said that he is confident that Astra will help unlock many aspects to support the future of DeFi.

Ali went ahead to say that his team believes that Astra will help forge new paths for the development of DeFi. He explained that DeFi could be more compliant worldwide through Astra, thus making it easier for traditional financial institutions to support it. Ali said their innovation would allow DeFi to grow and make it easier for regulators to understand it while upholding decentralization.

Per reports, Astra also has some partnerships in the pipeline with major firms, and more details about it will follow soon.

What is Astra protocol?

Astra protocol is a project that aims at building a compliance layer for all DeFi smart contracts. This layer will offer KYC and anti-money laundering functionalities. It will also help resolve arising issues through legal action.

The layer also offers adherence to the ongoing push for DeFi to abide by some strict regulations from governments. Almost all available protocols do not offer these features yet, but DeFi has to follow the regulators’ will to secure a chance at survival. Therefore, the layer will help the developers, investors, and users to retain their control over the DeFi ecosystem.

Additionally, the innovation by Astra will help to overcome disputes that arise through legal means. The project by Astra comes at a time when the world is figuring out how to regulate cryptos and prevent their abuse. Since this project aims to make DeFi more adherent to anti-money laundering and offer perfect KYC details, investors can only wait to see how it will fair with regulators.

Dennis Mugambi

Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

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