Anvil - Undisclosed

Anvil is an Ethereum-based collateral management protocol centered on the Collateral Vault and digital Letters of Credit (LOCs). It allows users to lock digital assets as collateral and issue fully secured credit instruments that are verifiable on-chain, without relying on a bilateral counterparty's balance sheet. It aims to solve the portability problem of collateral, enabling reserved collateral to be reused across payments, exchange margins, cross-chain bridges, and various credit workflows while maintaining transparent solvency checks. Users authorize deposits into the vault, approved collateral contracts can reserve these assets, and LOCs are generated based on over-collateralization and liquidation logic. ANVL is its governance token, with holders delegating voting power to manage parameters such as asset support, collateral factors, and external contract approvals.