Zivoe, a George Town, Cayman Islands-based provider of a real-world asset (RWA) credit protocol, $8.35M in funding.
Backers included Andrew Keys, Iceberg Capital, Concave, and others.
Zivoe is a Real-World Asset credit protocol connecting global DeFi liquidity to private credit markets. It aims to channel much-needed capital into underserved areas, making credit more accessible and affordable for everyone. Additionally, Zivoe seeks to introduce consumer loans as a new source of Real-World Assets in DeFi markets, enriching the ecosystem with yield opportunities derived from real economic activity.
The launch coincides with its initial tranche offering (ITO), a liquidity mechanism designed to attract initial total value locked (TVL). Liquidity providers (LPs) can deposit stablecoins into either Zivoe’s senior or junior tranche, receiving Tranche Tokens in return. These tokens aim to offer risk-stratified exposure to its loan portfolio, which is secured by a special purpose vehicle (SPV) backed by the cash flows from consumer loans and can be staked to earn yield.
ITO participants will also be eligible to receive $ZVE, the platform’s native governance and utility token, which will be airdropped upon the completion of the ITO. The ITO is scheduled to begin on July 31st and will run for up to 30 days.
FinSMEs
22/07/2024