Zivoe, a real-world asset (RWA) credit protocol, will launch its mainnet on July 31 as the protocol aims to democratize access to credit.
The announcement comes alongside Zivoe’s successful raise of $8.35 million from investors and coincides with the platform’s Initial Tranche Offering (ITO), a liquidity bootstrapping mechanism aimed at attracting initial Total Value Locked (TVL).
Zivoe will use the funds and the upcoming mainnet launch to bring its credit features to more people within the decentralized finance (DeFi) space. This goal will be achievable through connecting on-chain liquidity to borrowers in the RWA market, the protocol said.
Commenting on the mainnet launch and the funding round, Zivoe founder and general counsel Kristal Gruevski said the protocol’s solution will transform the traditional lending market.
“Our ITO will provide DeFi users (US Accredited Investors and Non-US persons only) with unprecedented access to the consumer credit market. This is just the beginning of a new era where blockchain technology and real-world lending converge. We are beyond excited to help millions of underserved individuals around the world while bringing a new RWA product to DeFi,” he added.
Zivoe to issue on-chain loans
On the mainnet launch, Zivoe plans to extend its on-chain loans feature to a key lending partner. This strategic partner will use these as capital to originate fiat loans for its consumers. However, the long-term plan is for the platform to tap into the RWA market via direct engagements with consumers.
Zivoe’s Initial Tranche Offering (ITO) allows liquidity providers (LPs) to deposit stablecoins to receive Tranche Tokens, which can be used to access the protocol’s loan portfolio. Holders can also stake tokens to earn yield.
Native ZVE token
Zivoe will launch its native token ZVE after the ITO, which will run for 30 days from July 31. Those who take part in the offering will be eligible for a ZVE airdrop set to go live at the end of the 30-day ITO.