K3 Capital, an investment firm specializing in DeFi strategies, has launched an on-chain credit line for the financial company Galaxy on the Monad network, built on the Accountable platform, which provides cryptographic verification of data on the blockchain. Investors have contributed a total of $30 million. As new liquidity providers join, the credit line volume is planned to increase to $100 million.
The credit line operates based on a liquidity pool denominated in AUSD. Investors deposit funds into it, K3 Capital manages the capital, and Galaxy receives borrowed financing. All fund transactions, loan status, and interest payments can be verified on the blockchain at any time through the Accountable verification system.
The product is designed for institutional investors. Each loan is provided for 90 days with the possibility of renewal, and investors can withdraw up to 30% of their funds monthly. Additionally, participants receive tokenized shares in the pool, which can be used in other DeFi protocols within the Monad ecosystem, for example, to generate additional yield or in secondary lending services.
Image: Magnific
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