Yield Bearing BRL

BRLY serves as the base collateral token in the Crown ecosystem. It is the source of yield for other tokens such as BRLV (a stable, non-rebasing transactional token) and wBRLY (an ERC-4626 vault token for institutional custody). BRLY itself is typically only held by smart contracts rather than individual users.

Its main function is to accumulate and distribute a portion of the yield generated by the ecosystem’s reserve assets. Through its rebasing mechanism, the token supply is automatically adjusted to reflect accrued yield up to a predefined “Threshold” rate (initially set at 97% of the CDI). This value accrual is then either passed directly (in the case of BRLY), redirected (as in BRLV), or reflected in share price (as in wBRLY).

BRLY was created by Crown Digital, a Brazil-focused digital asset infrastructure firm. Crown was co-founded by:

• John Delaney (CEO & Co-founder) – Former international finance lawyer and Web3 operator.
• Vinicius Correa (Principal Engineer & Co-founder) – Former Nubank engineer and co-founder of Pipo Saúde.
• Alex Gorra (Founding Partner & Head of Ecosystem) – Financial executive with experience at JP Morgan, Rothschild, and UBS.
• Bruno “BL” Passos (COO) – Specialist in compliance, operations, and infrastructure, previously at Hashdex and Polo Capital.

Crown Digital operates under the framework of Brazilian virtual asset regulation, with a strong focus on collateral transparency, compliance, and institutional security standards.