Zivoe announces mainnet launch of its RWA credit protocol

Real-world asset (RWA) lending protocol Zivoe will launch the protocol’s mainnet on July 31, aiming to democratize access to credit.

The announcement comes after Zivoe raised $8.35 million from investors and coincides with the platform’s Initial Tranche Offering (ITO), a liquidity bootstrapping mechanism aimed at attracting Total Value Locked (TVL) from the startup.

Zivoe will use the funds and the upcoming mainnet launch to bring its lending features to more people in the decentralized finance (DeFi) space. The protocol said this goal can be achieved by connecting on-chain liquidity to borrowers in the RWA market.

Commenting on the mainnet launch and funding round, Zivoe founder and general counsel Kristal Gruevski said that the protocol’s solution will transform the traditional lending market.

“Our ITO will provide DeFi users (US Accredited Investors and non-US individuals 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 come together. We are beyond excited to help millions of underserved individuals around the world as we bring a new RWA product to DeFi,” he added.

Zivoe to provide on-chain loans

At its mainnet launch, Zivoe plans to expand its on-chain lending feature to a major lending partner. This strategic partner will use them as capital to create fiat loans for its consumers. However, the platform’s long-term plan is to enter the RWA market through direct interactions 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 the tokens to earn yield.

Native ZVE token

Zivoe will launch its native token, ZVE, following a 30-day ITO starting July 31. Participants in the offering will be eligible to receive a ZVE airdrop that will be released at the end of the 30-day ITO.