• Astra Protocol was able to raise $9M through a private sale.
• Astra’s goal is to bring a fully decentralized compliance layer in the DeFi Industry.
• Astra offers regulatory compliance services, such as lending and borrowing.

Astra Protocol’s goal to offer all DeFi smart contract users a decentralized compliance layer has seen it secure a fund of $9 million during the token sale. In addition, prominent investment firms and individuals showed their support for this project. Fundamental Labs, Richard Dai Faculty, Republic, DAOMaker and Wave GP are some of them.

It is clear that the DeFi industry needs decentralized compliance. This project has huge backing. Arthur Ali, co-founder of Astra Protocol stated that:

Our token raise has been closed. We are delighted to share this news. ASTRA, we believe is the key to DeFi’s future. ASTRA will enable us to open up new avenues of growth for the industry by allowing compliant practices in multiple countries, and further participation from traditional institutions. DeFi’s global patented technology will allow it to grow while promoting more confidence among regulators and without jeopardizing decentralization.

Meanwhile, Jonathan Han, a partner at Republic also said that they believe in Astra’s solution as a significant tool in the movement towards DeFi to become mainstream. He added,

We’re excited to support the Astra team who tirelessly tries to spread the DeFi benefits to more people and organisations.

As mentioned above, Astra’s main goal is focused on equipping DeFi smart contracts with a fully decentralized compliance layer, with KYC and AML capabilities. The compliance layer, which can be assisted by prominent legal firms, may help to reduce compliance problems.

Astra Protocol provides legal protection and regulatory compliance, as well as a framework for borrowing and lending, derivatives. Asset management. DEXs. Dispute resolution. Decentralized insurance.

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