Gluwa DeFi Distributes First Batch of Rewards: Details
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 stablecoins
According to a press release shared with U.Today, Gluwa, an ecosystem of decentralized finance (DeFi) products for the unbanked community, starts distributing rewards between the owners of Gluwa Invest Bond Accounts.
We made it to the Big Apple! 🗽Now its your turn to watch #Gluwa's enthralling 3D advert at Times Square #NYC! You can even win $CTC while you're at it... 📺Simply follow the instructions below👉 https://t.co/MSkDvF1gvQ 👈#TimesSquare #CTCNYC $CTC #NY #blockchain pic.twitter.com/FVVkrgn4sC— Gluwa (@gluwa) December 9, 2021
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, recepients of sUSDC-G injected their liquidity in order to provide urgently needed credit to members of unbanked populations in emerging markets.
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 provides unbanked with various solutions with high APY rates
The Gluwa Bond Account is a short-term and high-yield account that can be opened with no KYC. It is open for a three-month period with 12% guaranteed APY.
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 amount of the single largest investment 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.Source