Gluwa, a decentralized microfinance platform, launches payment program for its liquidity providers
Gluwa, an ecosystem of decentralized finance products, launches its distribution program for clients of the Gluwa Invest Bond Accounts module.
First Gluwa DeFi Product Starts Distributing Stable Coins
According to a press release shared with U.Today, Gluwa, an ecosystem of decentralized finance (DeFi) products for the non-banking community, is starting to distribute rewards among owners of Gluwa Invest bond accounts.
Payouts are distributed in the form of sUSDC-G, Gluwa’s native stablecoin pegged to the price of the U.S. Dollar. Rewards are sent to the liquidity providers of the peer-to-peer lending/borrowing module.
Previously, sUSDC-G beneficiaries injected their liquidity to provide urgently needed credit in emerging countries to members of unbanked populations.
Gluwa Invest Bond Accounts is one of three DeFi products offered under Gluwa’s umbrella. Since its launch in September 2021, this program made decentralized loans available for Gluwa’s clients.
Gluwa offers the unbanked various solutions with high APY rates
The Gluwa Bond Account is a short term, high yield account that can be opened without KYC. It is open for a period of three months with an APY guaranteed at 12%.
Within the first batch, Gluwa distributed 32,866 sUSDC-G in interest on $1.11 million of total value locked. This sum of money was deposited by 72 investors.
The largest investment amount is $ 362,000.
Besides the Gluwa Bond Account, the ecosystem also offers its clients a savings account program with a guaranteed APY of 5% and prize-linked savings accounts that act as a loser-less lottery.
