AlloyX, a decentralized finance (DeFi) protocol that aggregates tokenized credit, announced today the launch of a liquid real-world asset (RWA) vault product after closing a $2 million pre-seed funding round1 led by Hack VC, with investments from Circle Ventures, Digital Currency Group, Stratos, Lecca Ventures, MH Ventures, very early Ventures, Archblock, dao5, and Credix Finance. With this funding, AlloyX has integrated with nine credit protocols to date and is building the industry’s first blended investment vault with its partners Credix Finance and a tokenized U.S. Treasury Bills protocol.
This investment vault taps into the more than $530 million2 active loans onchain in the private credit market by combining Credix’s high-yield, overcollateralized tokenized private credit investment with highly liquid tokenized U.S. T-bills. As a result, investors such as decentralized autonomous organizations (DAOs) can gain access to liquidity, yield and diversification in tokenized credit. Tokenized credit refers to digital tokens backed by real-world assets, such as loans or debt instruments. Compared to crypto loans or liquidity pools, tokenized credit investments typically carry an initial lockup period and lower liquidity. Using AlloyX, investors and DeFi protocols can create strategies blending tokenized U.S. T-bills with the highest volume and deepest liquidity of RWA available to achieve attractive yields.
“As we saw during the crypto market crash in 2022, investors wanted to exit positions from RWA lending pools. But it was hard to get out of these real-world loans with years left before maturity,” said Alexandre Liege, CEO at AlloyX. “The composability and flexibility that make DeFi valuable need to be available for RWA as well. To achieve this, we are building products to enable our community to invest and create RWA diversified baskets with automatic reinvestment, similar to what Yearn Finance created for digital assets.”
AlloyX allows protocols, DAOs and institutional investors to build diversified investment strategies in real-world assets. Investors easily access attractive yields from tokenized credit pools and provide liquidity to loans on chain. By integrating and aggregating investments from major credit protocols such as Credix Finance, Goldfinch, and Centrifuge, AlloyX provides crypto lenders with a flexible and efficient platform to manage RWA investments tailored to their yield, risk and liquidity preferences.
“We’ve seen demand from DAOs eager to allocate capital in the RWA space but are looking for flexible and liquid options that would work for them. Hence we’re excited to see the AlloyX team launch the first of its kind blended vault to give investors exposure to private credit while benefiting from the liquidity of U.S. T-Bills,” said Chaim Finizola, Co-founder and Chief Growth Officer at Credix Finance.
AlloyX has reached $5 million in total value locked (TVL) and generated yields above 18% on average since inception in 2021. This blended vault will be live in early Q3 2023. The team plans to integrate with additional DeFi protocols and launch more investment vaults later this year.
1 Funding raised in pre-seed round is part of AlloyX Inc. to build the AlloyX protocol, the DeFi project that aggregates tokenized credit.
2 Data sourced RWA.xyz, represents active loan values as of June 2023
For more information, please visit https://www.alloyx.xyz/
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