Viaarpe Limitless & Everest Partner With Over $250M in Collateral to Tokenize $20M in Real World Assets

3 min readJun 3, 2024

Mining is a captivating industry characterized by staggering asset values and occasionally modest cash liquidity. Picture a company boasting $13 billion in assets, ranging from ores to unrefined lithium, gold, and emeralds, yet possessing only $500 million in liquid funds. What’s more, the cost of capital to extract these assets often reaches exorbitant levels akin to those wielded by loan sharks, typically monopolized by a consortium of Traditional Finance (TradFi) entities. It’s a scenario ripe for unlocking trapped value through tokenization.

But this isn’t merely about tokenizing a commodity or mirroring prices from futures markets. It’s a paradigm shift towards tokenizing over-collateralized debt, granting access to a myriad of services offered by a vertically-integrated mining conglomerate, and empowering retail purchasers with direct access, effectively bypassing the entrenched TradFi interests. Do we all remember what happened to newspapers when Google showed up? Kodak with the advent of digital photography? Imagine doing that to an industry that makes up 10% of a few countries’ GDPs!

Now, let’s delve into the intricacies of Viaarpe Limitless and its utilization of Everest infrastructure. Limitless is a multinational mining giant with assets exceeding $10 billion spanning emeralds, alexandrites, lithium, and basalt, and operates facilities across Mexico, Brazil, and Canada. Beyond catering to industrial clients, it directly serves the public, positioning itself at the nexus of a bustling ecosystem encompassing buyers, sellers, wholesalers, artisans, retailers, and logistics providers.

In this context, Viaarpe Limitless is introducing 20 million utility tokens to facilitate direct purchases of gems and minerals, mine tours, and various other functionalities, including gem cutting and polishing. To underscore their confidence in the token’s utility, they are also offering a refund policy, backed by $250 million in custody assets (already transferred to Everest), over-collateralized by 12.5 times.

Everest, equipped with its licensed custodial capabilities and an EVM chain, alongside Ethereum compatibility, fiat on/off ramps, and token swap functionalities through its partner ecosystem, emerged as the ideal ally. Twenty-one million tokens have been minted on Ethereum mainnet, with 20 million available for purchase through token swaps or fiat transactions. Token swaps will be conducted seamlessly via Viaarpe Limitless and EverLaunch, akin to Uniswap, while fiat purchases will be accessible through THE Foundation.

Furthermore, in an effort to incentivize growth and engagement, THE Foundation is allocating $ID tokens as staking rewards, offering up to 20% annual percentage yield, and a portion of Viaarpe’s tokens will be allocated to referrers who facilitate purchaser referrals.

This is just the beginning of a very exciting partnership between Limitless and Everest, and we look forward to sharing more details on the token launch in the very near future.

Viaarpe Limitless & Everest Partner With Over $250M in Collateral to Tokenize $20M in Real World Assets

Written by EverestDotOrg