Sky Ecosystem, Plasma Co-Lead $13.5M Raise for Yield Platform 'Osero'

Incubated by yield analytics platform Stablewatch and Sky Ecosystem governance and operations provider Soter Labs, Osero builds user-friendly yield products designed to make earning onchain stablecoin yield feel as seamless as using a traditional savings account.

What's the Scoop?

• Fresh Funding: Sky Ecosystem and Tether's Plasma blockchain have joined forces to co-lead a $13.5M seed funding round for stablecoin yield startup Osero. The pair of stablecoin giants (respectively responsible for the issuance of USDS and USDT) were joined in the raise by, "a group of angel investors representing USDT0, Maple, Accountable, Four Pillars, RedStone, The Rollup, and Kairos Research among others."
• Product Suite: Osero will launch three products: Osero Earn, which allows wallets, neobanks, custodians and exchanges to embed the Sky Savings Rate into their own interfaces with 10 lines of code; Osero App, which gives end users direct access to the Sky Savings Rate; and Osero Foundry, a "full-stack origination platform for asset managers, fund issuers, and structured product providers looking to bring their products onchain" equipped with $2.5B in allocation capacity.
• Use of Funds: It appears that Osero Foundry will extend USDS loans against real-world assets, acting as an agent on behalf of the Sky Ecosystem. According to Osero's raise announcement, freshly infused capital will serve as, "the risk capital needed to underwrite Osero's first cohort of Foundry allocations, structured in line with the Basel III-inspired framework that governs the Sky Protocol’s risk assessment process."