P2P Accounting Meets Tokenized Working-Capital with Mike Revy of Bulla Network

Show Notes & Summary

Travis John sits down with Mike Revy, Founder & CEO of Bulla Network, for a live-in-studio follow-up to the “Dividend Layer of DeFi” panel at Yield Day NYC. Revy unpacks how Bulla turns invoices, purchase orders and even one-off “friend-loans” into on-chain NFTs, creating peer-to-peer accounting rails that let businesses tokenize working capital, tap permissionless liquidity pools and earn lender yield in the 10-11% range. The conversation ranges from trucking-industry factoring to multi-chain deployment costs, stable-coin balance-sheet adoption and why 60/40 portfolios are getting a blockchain makeover.

Key Takeaways & Insights

1 | P2P Accounting → Tokenized Working Capital. Bulla mints each invoice or PO as an NFT, instantly updating the issuer’s receivables and the debtor’s payables.
2 | Two-Step Liquidity: Originators can either list claims for simple peer financing or drop them into permissioned lending pools that target double-digit APY.
3 | Trucking as a Beachhead. Short-dated freight invoices (30–60 days) are moving on-chain first—cutting expensive TradFi factoring fees and paying truckers faster.
4 | Stable-Coin Tailwinds. As U.S. policy legitimizes fiat-backed stables on balance sheets, idle USDC/USDT can finally rotate into real-world credit at scale.
5 | Multi-Chain for Cost & UX. Pools live on Polygon & ETH Mainnet, with additional user activity on Avalanche and Arbitrum. Base chain deposits give newcomers a “Coinbase-native” on-ramp with low gas.
6 | DIY Credit Funds. Any vertical lender can fork Bulla, spin up a private pool, and price its own niche receivables—turning the protocol into a “franchise” model.
7 | Friend-Lend Module. Micro-loans between wallets are minted as claim tokens, then financed in pools—bringing social lending on-chain with clear audit trails.
8 | 60/40, Reimagined. Bitcoin/ETH “equity” + Bulla invoice pools “fixed income” creates a crypto-native portfolio hedge without selling core holdings.

Chapter Markers

1. 00:00 – Intro & Yield Day Recap
2. 03:00 – What Is Bulla? From NFT Invoices to Lending Pools
3. 08:30 – Trucking & Trade Finance Use-Case
4. 14:00 – Stable-Coin Balance-Sheets & 60/40 Portfolios
5. 18:45 – Multi-Chain Deployment Choices (Gas vs. Security)
6. 24:00 – Friend-Lend, Payroll & Pseudo-Anonymity
7. 29:00 – Future Roadmap: Wyoming Stable-Token Pools & DIY Franchises
8. 32:00 – Closing Thoughts & How to Get Started

Links & Resources

• Bulla Network: https://bulla.network
• Mike Revy (Telegram): @MikeRevy
• RWA Builders Newsletter & Media Hub: https://rwa.builders

👉 Explore a live invoice pool or mint your first on-chain invoice at Bulla.network, and subscribe to RWA Radio for more founder deep dives.