PROTOCOL VILLAGE EXCLUSIVE: Peregrine Exploration, a blockchain analysis and growth agency, raised $3.6 million in a funding spherical co-led by Dragonfly and Polychain Capital to develop Degree, “the primary stablecoin protocol powered by restaked greenback tokens.” In accordance with the crew, Degree makes it simple to “restake” stablecoins – which means the belongings can be utilized to earn curiosity and safe different blockchain protocols. Degree’s stablecoin, lvlUSD, will launch in personal beta within the coming weeks with a mainnet launch deliberate for This autumn. Customers will be capable of mint lvlUSD tokens and earn Degree XP (factors), restaking factors, and Aave yield on their dollar-backed stablecoins like USDT and USDC. “Degree was based on the assumption that the 2 most vital use instances of crypto are the permissionless entry to digital {dollars} and the flexibility to offer financial safety to decentralized networks,” mentioned Peregrine Exploration CEO David Lee. “Degree combines these two use instances right into a single product, opening up an entire new world of alternatives for restakers, AVSs, and DeFi customers.”
