Other participants in the round include Symbolic Capital, SALT Fund, and Flowdesk. Although the round closed in mid-2024, Avantis waited until now to announce it publicly to match its platform’s recent growth milestones, according to Harsehaj Singh, CEO of Lumena Labs, the team behind Avantis.
Priced at $1.35 per share, the PIPE represents a 121 percent premium over Asset Entities’ (ASST) previous closing price. The deal structure includes no debt, allowing Strive to preserve future borrowing capacity and maximize equity-driven returns.
According to Arch Labs, the new virtual machine will handle off-chain computations to enable Turing-complete smart contracts directly on Bitcoin’s base layer. This would eliminate the need for external scaling solutions and offer Solana-like transaction speeds while maintaining Bitcoin’s security infrastructure.
The announcement comes amid the growing adoption of stablecoins globally. Last year, stablecoin transaction volumes surpassed those of Visa and Mastercard combined, signaling a shift in how digital assets are being utilized for everyday transactions.
PEPD will serve as the foundation for staking, liquidity provision, and community-driven initiatives. The project emphasizes decentralization and user participation in governance, rewards, and development.
