Place/Date: - December 15th, 2021 at 4:00 pm UTC · 3 min read
Contact: Gluwa, Source: Gluwa
Gluwa, a global decentralized microfinance platform that aims to provide everyone with fair access to capital, announced the first payout on its recently launched Gluwa Invest Bond Accounts, returning $32,866 sUSDC-G to investors. The initial disbursement returned interest to investors whose funds were used to provide urgently-needed credit to the unbanked and underbanked in emerging markets.
Gluwa launched its Bond Accounts in September, the first of three DeFi lending products it is planning to make available as part of the Gluwa Invest platform.
Gluwa Invest enables private investors and crypto asset holders to convert idle tokens into real-world lending liquidity and participate in high-yield lending opportunities while helping those in emerging markets. The Gluwa Bond Account is a short, fixed-term and high-yield interest-bearing account. Investors commit to a three-month fixed-term contract before redemption of their principal plus earned interest at a guaranteed annual percentage yield of 12%, or 3% over the period of the Bond. The contracts are smart contracts based on Ethereum, implemented on the Luniverse sidechain to reduce fees.
Investments are converted into sUSDC-G, the project’s native stablecoin that’s pegged to the Luniverse sidechain. Investors can track their committed assets in real-time via the Luniverse sidechain, ensuring full transparency of their funds.
Gluwa said the initial payout returned $32,866 sUSDC-G in interest on $1.11 million total locked value to 72 primary investors. Investors deposited an average of $10,006 sUSDC-G in 112 total Bond Account transactions, with the largest single investment of $362,000. The maximum total investment cap for Gluwa Bond Accounts is currently set at $1.5m but this will soon become uncapped.
Staked funds within Gluwa’s Bond Accounts are used to provide liquidity to the company’s partners, as well as credit opportunities and credit lines for unbanked and underbanked individuals who are unable to access financing elsewhere. Gluwa loans are designed to help these underserved individuals quickly launch small startups or use funds for other financial needs.
Gluwa Invest is also planning additional investment opportunities for the crypto community. These include no fixed-term Savings Accounts with a guaranteed APY of 5%, and Prize-Linked Savings Accounts, which is a lossless lottery-style account where investors play for much larger prizes based on the collective interest earned from Gluwa’s entire liquidity pool.
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.