Anvil

Anvil is a smart contract protocol running on Ethereum that aims to make collateralized lending easier. The project's core product is a digital letter of credit structure: one party's obligation is backed by collateral locked on-chain, and the counterparty can verify that the payment is secured. ANVL is the token issued on Ethereum and used in the protocol's governance.

The protocol consists of modular components such as secure vaults where collateral is held and pools to which different users contribute collateral. This structure lets users prove their ability to pay without needing a central intermediary; the system is intended for use in areas ranging from digital payments to corporate credit processes. ANVL holders take part in decisions on protocol parameters and risk management.

The price of ANVL depends on factors such as the amount of assets held as collateral in the protocol, how quickly applications adopt the digital letter of credit structure, smart contract risks and token distribution. For Anvil, Lzzo.com provides DefiLlama's US dollar reference price and a chart based on the history of this data.