March 12, 2026 ・ 4 min read
Transforming On-Chain Finance with the Launch of zVault’s First Strategy zOPAL
What are zVaults?
zVaults represent the foundational infrastructure layer of the Zoth Neobank, serving as specialized, yield-generating investment vehicles that bridge traditional fund management with blockchain technology. Each zTOKEN is an ERC-20 compliant, interest-bearing token where the token price appreciates over time to reflect accumulated yield from underlying investment strategies.
The infrastructure includes several distinct categories.
Real-World Asset (RWA) Vaults: RWA vaults bridge traditional capital markets with on-chain transparency, tokenizing exposure to commodities, equities, and secured lending. A key driver is Asset-Backed Financing, which directs capital into structured arrangements secured by high-quality, short-duration receivables. By integrating these structures, RWA vaults allow investors to capture yield from real economic activity through programmable, liquid assets.
DeFi Strategy Vaults: DeFi vaults deploy capital natively on-chain across liquidity provision, lending markets, derivatives, and active trading strategies. These strategies can operate across multiple blockchain networks and protocols, capturing digital asset-native yield opportunities.
Lending Vaults: Lending vaults focus on structured lending arrangements. This strategy emphasizes predictable yield generation through negotiated terms and defined collateral frameworks.
Mixed Vaults: Mixed asset vaults offer diversified exposure by blending different strategies into a single vehicle.
The Infrastructure Gap That Locked Out Everyone Else
Some of the best-performing investment strategies in finance have never been accessible to most investors. Until now, these were available only to institutional allocators with the right connections, the right minimums, and the patience for multi-year lock-ups.
This changes today.
zOPAL is just the Beginning
zVaults are not built around a single strategy. The Zoth zVault infrastructure is designed to bring premier institutional strategies on-chain, providing a gateway to high-tier financial products.
zOPAL serves as the inaugural vault, the first proof that asset-backed financing can be tokenized, verified, and made liquid on-chain without compromising institutional standards. As the ecosystem scales, zVaults will continue to offer more curated strategies to meet the evolving needs of both retail and institutional investors.
Introducing zOPAL
zOPAL is the first tokenized investment vehicle built on the zVault infrastructure, providing on-chain access to BlackOpal’s LiquidStone II strategy. This vault transforms idle capital into yield-bearing assets backed by investment-grade receivables. To ensure seamless liquidity, the strategy incorporates a “Liquid Sleeve” composed of regulated, market-neutral instruments, utilizing premier providers like Superstate alongside other blue-chip, institutional-grade assets.
Yield Structure: The vault targets APY of 16%, broken down as follows:
- Up to 12% Base APY: Sourced from the underlying BlackOpal’s LiquidStone II strategy.
- Up to 4% Boosted Yield: Provided directly by Zoth to enhance participant returns.
When you deposit USDC or USDT into the zOPAL vault, you receive zOPAL tokens representing your share of the vault. Those tokens accrue value as the underlying strategy generates yield. When you redeem, you receive your principal plus earned yield in stablecoins, and your zOPAL tokens are burned.
No waiting for a quarterly window. Capital earns from the day you deposit to the day you withdraw.
Inside BlackOpal’s strategy: Two Engines, One Institutional Strategy
BlackOpal’s strategy, utilizing an optimized dual-engine allocation across two distinct yield sources to maximize risk-adjusted returns.
The Credit Engine — 50% to 75% allocation
BlackOpal purchases bundles of short-duration Brazilian credit card receivables, the future payments that merchants are owed by card issuers, with an average 30-day maturity. Repayments are intercepted directly from Visa and Mastercard settlement networks into BlackOpal’s segregated account. Both are AA+ rated institutions. All BRL currency exposure is hedged to USD using Non-Deliverable Forwards (NDFs).
The Liquidity Engine — 25% to 50% allocation
The remaining fund is allocated to Superstate’s USCC, a regulated market-neutral basis trading strategy that generates non-directional yield and provides daily settlement capability supporting the vault’s redemption liquidity.
The Strategic Foundation: Why zVaults Deployed on Base
zVaults are deployed on Base, and the choice is deliberate. Base has emerged as the dominant L2, leading in TVL growth, transaction volume, and developer activity. It brings institutional credibility directly into the infrastructure layer, EVM compatibility that ensures seamless DeFi interoperability, and a thriving community of builders, protocols, and users, making it the most active ground for on-chain finance.
About Zoth
Zoth is building a privacy-first stablecoin neobank for the Global South and the emerging Agentic Economy, an integrated financial infrastructure that unifies yield, payments, cards, liquidity, compliance, and security into a single, institution-grade platform for individuals, institutions, and AI agents.
Visit: https://zoth.io
About LiquidStone II
LiquidStone II is a tokenized asset-backed financing product issued by BlackOpal. The product combines short-duration Brazilian credit card receivables, carrying structurally zero credit risk, with a regulated liquid yield strategy, targeting 14% APY with no lockup, and 1–5 day settlement. LiquidStone II has maintained zero realized credit default since inception.
BlackOpal is a payments financing platform specializing in short-duration, investment-grade Brazilian receivables, delivering compelling risk-adjusted yield with low correlation to the broader market.
