2021-12-16 19:00 |
Decentralized global microfinance platform Gluwa announced the first payout on its recently launched Gluwa Invest Bond Accounts, returning $32,866 sUSDC-G to investors, Invezz learned from a press release. Investors’ funds were used to provide the unbanked and underbanked in emerging markets with urgent loans.
Converting idle tokens into real world liquidityGluwa Invest allows crypto holders and private investors to convert idle tokens into real world lending liquidity and enjoy high-yield lending while helping people in emerging markets at the same time. Their bond accounts are fixed- and short-term. Before redemption of their principal plus earned interest at a guaranteed APY of 12%, investors commit to a three-month smart contract based on Ethereum (ETH/USD) and implemented on the Luniverse sidechain to lower fees.
Full transparency of funds is ensuredThe investments are converted into the project’s native stablecoin, sUSDC-G, which is pegged to the Luniverse sidechain. Holders can track their funds on the Luniverse sidechain in real time. This guarantees full transparency.
Credit TVL totaled $1.11MThe first payout returned interest in the amount of $32,866 sUSDC-G on TVL of $1.11 million to 72 primary investors. The biggest single investment was $362,000. At the moment, the maximum total investment cap for Gluwa Bond Accounts is $1.5 million. In the near future, it will become uncapped.
Funds used to provide Gluwa partners with liquidityGluwa uses the funds staked within their Bond Accounts to provide their partners with liquidity as well as credit lines and other opportunities for unbanked and underbanked individuals. The latter can then launch small startups or use the money for other needs.
Coming up: savings accounts with guaranteed APY and moreAmong Gluwa Invest’s future investment opportunities for the crypto community is a no fixed-term savings accounts with a guaranteed APY of 5%. Another is a lottery-style account, where people compete for big prizes based on the total interest generated from Gluwa’s entire liquidity pool.
About Gluwa
Gluwa is a decentralized finance platform aiming to provide everyone with fair access to currencies across the world. Gluwa’s product line includes noncustodial cryptocurrency wallets and exchange services, and yield-earning investment accounts. The platform’s goal is to build a bright future of financial inclusivity where anyone has the potential to become their own bank.
The post Gluwa announces first payout on Invest Bond Accounts appeared first on Invezz.
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