zOPAL

ZOPAL

zOPAL is an institutional-grade yield vault that provides on-chain access to a structured credit strategy. Built on zVaults, Zoth's infrastructure for tokenized yield strategies, it gives eligible stablecoin holders access to real-world credit through an on-chain vault. The base yield comes from a strategy backed by Brazilian credit card receivables, tied to consumer card payments and installment transactions where merchants are entitled to future settlement flows. Receivables financing purchases these future cash flows at a discount, and returns are generated as the receivables are repaid. The receivables are registered through a Central Bank-authorized registry, and collections are routed through the regulated card-settlement system, linking the yield to consumer payment activity rather than token emissions. zOPAL targets up to 12% Vault APY from the underlying strategy. Yield is variable, depends on the underlying strategy and market conditions, and is not guaranteed. Eligible participation may also accrue Zocta Points, Zoth's ecosystem rewards layer, which are separate from the base yield.