PANews reported on February 27 that according to Business Wire, Aegis successfully completed a $2 million Pre-Seed round of financing, with investors including Dewhales DAO, Profluent Ventures and other well-known angel investors. The company is developing YUSD, the first Bitcoin-backed stablecoin that is completely independent of the fiat currency banking system, with real-time transparency and built-in profit mechanisms, aiming to solve the problems of low transparency, high risk exposure and lack of income sources of existing stablecoins.

YUSD maintains stability by holding BTC and establishing a Delta neutral position, and automatically obtains returns without staking. Users can view APY calculation methods, proof of collateral asset reserves, and market positions through the Aegis system for complete transparency. Aegis plans to officially launch YUSD in Q1 2025 and integrate mainstream DeFi protocols, liquidity pools, and lending platforms.