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Soil Decentralized Credit Protocol Hits $2 Million in TVL

source-logo  u.today 04 April 2024 13:58, UTC

With a number of technical novelties, Soil (SOIL) decentralized credit protocol is ready to introduce DeFi 2.0 tooling to the segment of real-world assets (RWAs).

Decentralized credit platform Soil amassed $2 million in TVL

Soil, a new-gen decentralized credit protocol with a focus on RWAs, shared the details of its latest accomplishment. Since its public launch on Jan. 11, 2024, it managed to reach $2 million in liquidity injected.

$Soil is bridging the gap between traditional finance & #DeFi through #RWA 👀

We bring corporate debt & fixed income markets to crypto to offer a safer and higher (up to 14%) yield with $USDC 🏦

Time to experience the synergy of traditional assets & blockchain innovation. 🔐 pic.twitter.com/0q05cWTC4Z

— Soil (@soil_farm) April 1, 2024

Besides notable TVL progress, the Soil team scored a number of milestones for SOIL, a core utility and governance token of the platform.

Last October, the protocol conducted a successful initial decentralized exchange offering (IDO), raising over $800,000 across three mainstream launchpads. Then, SOIL token was listed on two centralized exchanges, Gate.io and MEXC, and leading DEX Uniswap.

Jakub Bojan, CEO of Soil, is excited by the progress his platform has accomplished in recent months:

We are excited about bridging the TradFi and DeFi worlds, and proud to offer an unprecedented level of access and security in RWA investments. Our cutting-edge protocol is designed to meet the highest standards of regulatory compliance and scalability, ensuring that we are well-positioned to lead this exciting financial revolution.

Soil’s recent milestones and strategic partnerships underline its readiness to capture, in particular, a share of the $14 trillion corporate debt market.

Security audit completed by Hacken

Among the many milestones Soil has achieved thus far is an inaugural treasury management partnership with a prominent blockchain firm, a faultless 10/10 security score from a Hacken audit and a strategic alliance with leading CEE private debt fund Mount TFI.

The protocol’s business model has also received validation from a financial market regulator, reinforcing its fierce commitment to compliance and trust.

In the coming months, Soil will introduce a new generation of services for RWA tokenization and on-chain lending offerings.