ELYSIA Forms RWA Token Alliance with Renowned Companies to Develop Revolutionary Lending Protocol

SEOUL, KOREA, May 04, 2023 – (SEAPRWire) – ELYSIA, a real-world asset tokenization protocol, has formed a consortium (RWA Token Alliance) with NEOPIN, Galaxia Metaverse, and BKEX Labs, to research and develop a decentralized finance (DeFi) lending protocol based on real-world asset (RWA) tokenization. This move comes as RWA gains attention from major industry players such as Binance and Coinbase, who recently released RWA reports about it. RWA provides value by mirroring assets that exist in the real world.

Real-world asset (RWA) tokens represent assets in the physical world, such as real estate or cars. RWA tokens provide a more stable and reliable store of value compared to other crypto assets. As the popularity of RWA tokens continues to grow, major players in the industry have published reports highlighting their potential as a bridge between traditional finance (TradFi) and decentralized finance (DeFi). These reports indicate that more and more financial institutions and DeFi platforms are recognizing the value of RWA tokens and exploring their potential applications.

Given the scenario, ELYSIA has taken a proactive approach to the emerging RWA market by forming a consortium with renowned companies such as NEOPIN, Galaxia Metaverse, and BKEX Labs. NEOPIN is an affiliate of Neowiz Group, an IT company. Galaxia Metaverse is a subsidiary of Hyosung Group. Finally, BKEX Labs is the crypto-specialized investment firm that operates a $100 million AUM venture fund and the BKEX exchange. The consortium aims to jointly research and develop a decentralized finance (DeFi) lending protocol based on RWA.

While general lending protocols are based on revenues generated from crypto assets, which are less stable due to the high price volatility of crypto assets, RWA-based lending protocols are based on real-world assets and boast stability and yields. It will be an opportunity to introduce ELYSIA’s real-world tokenization structure, which is the first of its kind in Asia to be authorized as a DAO LLC in the state of Wyoming, USA. This added layer of protection ensures that investors are legally safeguarded, further bolstering the protocol’s stability.

A representative from ELYSIA re-affirms the favorable scenario to RWAs, “We believe that RWA-based lending protocols will be attractive not only to regular users but also to crypto institutions, projects, and other DeFi. We expect many participants to seek out RWA-based lending protocols because they have higher yields and stability than most lending protocols but with legal protections in place, such as crypto institutions and projects wanting to stably manage their spare funds and other DeFi wanting to import RWA money pools into their DeFi.”

ELYSIA is a project designed to provide a simple and alternative solution for converting illiquid assets, such as real estate, into liquid assets. It achieves this through a real-world asset tokenization protocol that transforms tangible assets into RWA tokens, which can be utilized on the blockchain. Once converted, these RWA tokens can be used to borrow crypto or they can be liquidated on ELYFI, a decentralized finance (DeFi) platform created by ELYSIA. This innovative system allows users to generate RWA tokens based on their real-world assets and leverage them in the rapidly expanding DeFi market.

Media Contact

Company: ELYSIA

Contact: Deokjae Seo

Telephone: +82 10-3982-4189

Website: https://www.elysia.land


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