VENUEVERITAS

RWA / YIELD INTELLIGENCE

PRIME Hastra PRIME

HELOC creditWrapped claim

Solana vault-stake-prime token whose exchange rate tracks yield derived from home equity lines of credit (HELOCs) pooled under the Democratized Prime program, accessed through a wYLDS→YLDS wrapper chain.

Publication status: Ready with disclosure

Compare RWAsInspect evidence

Where does the yield come from?

Trace who economically pays. Reported APY is not a guaranteed return.

  1. Borrower pays HELOC interest

    Figure-originated HELOCs

  2. Interest flows into Democratized Prime HELOC pool
  3. Pool proceeds support YLDS certificate economics
  4. wYLDS wraps YLDS and stakes/accrues rate

    wYLDS ≠ YLDS — distinct wrapper

  5. PRIME vault wraps wYLDS

    Reflects the accreted exchange rate

  6. PRIME value rises via reward distribution / exchange rate
  7. No PRIME-specific coupon

    All yield is a derived pass-through

Primary source
HELOC interest
Secondary source
Unknown
Who pays economically
HELOC borrowers, via Figure-originated home equity lines pooled in the Democratized Prime HELOC program.
Variable / fixed
Variable
Gross / net
Unresolved
Dated yield snapshot
Unknown

Borrower HELOC interest flows through the Democratized Prime HELOC pool, into YLDS certificate economics, into the wYLDS staking wrapper, and finally into the PRIME vault exchange rate. PRIME holders do not hold HELOCs directly.

Verified structured · Source

How yield is distributed

Mechanism
Reward distribution
Notes
Value accrues via vault exchange-rate appreciation (staking-style), not periodic cash interest paid directly to PRIME holders.

What sits underneath?

Underlying assets and strategies from primary evidence only.

Home equity line of credit (HELOC) receivables pooled under Figure Democratized Prime, accessed indirectly through the YLDS/wYLDS wrapper chain.

  • HELOC loans

PRIME does not directly hold HELOCs; exposure is via wYLDS→YLDS wrapper layers.

Verified structured · Source

What happens when things go wrong?

Structural loss path — not a risk score. Unknown protections stay Unknown.

Who takes the loss first
RESEARCHED_UNRESOLVED for the base Hastra PRIME HELOC pool. Do not import AUTO's auto-loan reserve-account / equity-stub schedule, or Strata's jrPRIME/srPRIME tranche structure, as base PRIME facts — no AUTO-style first-loss reserve/equity-stub schedule is documented on the primary Hastra PRIME pages reviewed in this pass.
Documented protections
Residential real estate collateral (HELOC lien); utilization-based warehouse lending via the Democratized Prime HELOC+ pool. The specific overcollateralization / reserve-account / advance-rate schedule that AUTO discloses is not published on the base Hastra PRIME pages reviewed here — do not assume PRIME shares AUTO's enhancement numbers.
Investor exposure
Loss path: homeowner default on the underlying HELOC → servicing/recovery (foreclosure path and lien-priority mechanics not fully structured here) → HELOC+ pool performance → impact on the PRIME/wYLDS exchange rate. Lien priority and expected recovery rates for the base PRIME pool are UNKNOWN in this pass.

Do not cite Strata's jrPRIME/srPRIME tranche structure, or AUTO's reserve-account/equity-stub schedule, as the base Hastra PRIME loss waterfall — those are separate derivative/enhancement products layered on top of, not equal to, base PRIME.

Researched unresolved · Source

How do I get my money back?

Primary redemption ≠ secondary DEX liquidity. Eligibility is scoped.

Eligible investors
UNKNOWN
Primary redemption
Unstake/redeem PRIME for underlying wYLDS/YLDS exposure per Hastra vault mechanics.
Timing
UNKNOWN
Settlement asset
UNKNOWN
Minimum
UNKNOWN
Restrictions
UNKNOWN
Secondary liquidity
Any secondary market trading (if listed) is not issuer redemption.

Researched unresolved · Source

Who holds the underlying assets?

Separate asset custody, cash custody, crypto custody, and token control.

Asset custody
Underlying HELOC receivables held within the Figure Democratized Prime program structure; named custodian not structured this pass.
Cash custody
UNKNOWN
Crypto custody
Solana vault-stake-prime program.

See tokenControl block.

Researched unresolved · Source

Fees

Gross yield and net yield are not the same. Not ranked by APY.

  • platform_feePRIME rate = Democratized Prime HELOC+ utilization rate minus a 0.50% (50 bps) annual Hastra platform fee, deducted from the rate PRIME holders earn. Direct Democratized Prime lenders on Provenance earn the same utilization rate without this fee.2026-08-30 · Verified structured · Source

Regulation

Authorization is entity × jurisdiction × instrument scoped — not a brand label.

No single securities/lending license instrument located for the PRIME wrapper token itself this pass; the underlying YLDS layer is a separately SEC-registered face-amount certificate (see YLDS record).

Entity
Hastra
Jurisdiction
Unknown
Instrument
Unknown
Authorization / registration
UNKNOWN

Researched unresolved · Source

Audit / assurance

Smart-contract audits are not fund audits or loan audits. No combined “audited” badge.

  • Smart-contract auditProvider not structuredDate unknown · No independently verified smart-contract audit report located for vault-stake-prime this pass.Researched unresolved

Smart-contract / token controls

Operational controls — not a decentralization score.

Mint
Hastra protocol-controlled (Solana vault-stake-prime).
Burn
UNKNOWN
Pause
UNKNOWN
Freeze / blacklist
UNKNOWN
Upgrade
UNKNOWN
Allowlist
UNKNOWN

Researched unresolved · Source

Tokenization layer

Chains
Solana
Official ownership record
Onchain SPL balance in the vault-stake-prime program.
Transfer restrictions
UNKNOWN

Wrapper token; official ownership of the underlying YLDS certificate is recorded by Figure Certificate Company's transfer agent, not by the PRIME token.

Verified structured · Source

Research dimensions

  • What does PRIME actually hold?

    PRIME wraps wYLDS, which wraps YLDS, which tracks Figure Democratized Prime HELOC loans. PRIME does not directly hold HELOCs.

    Verified structured · Source

  • How is PRIME different from AUTO?

    Same Hastra wrapper architecture, but PRIME tracks HELOC interest while AUTO tracks consumer auto loan interest — different underlying loan pools.

    Verified structured · Source

  • Who absorbs losses if HELOCs default?

    UNKNOWN in this pass — first-loss allocation across the wrapper chain has not been located/structured.

    Researched unresolved · Source

What must keep working?

Material dependencies only. Count is not a risk score.

  • OriginatorFigure LendingHELOC origination
  • ProgramFigure Democratized Prime (HELOC)Loan pooling
  • Wrapped AssetYLDS certificateBase yield instrument
  • Wrapped AssetwYLDS staking wrapperIntermediate wrapper layer
  • ProtocolHastra vault-stake-primePRIME token mechanics
  • ChainSolanaToken settlement

Evidence domains

  • Entity / issuerVerified structured

    Hastra + Figure entities named

  • Legal claimVerified structured

    Wrapped claim, two layers removed

  • Yield sourceVerified structured

    HELOC interest

  • Yield waterfallVerified structured
  • Loss waterfallResearched unresolved

    First-loss position UNKNOWN

  • Underlying assetsVerified structured

    HELOCs via wrapper chain

  • Distribution mechanismVerified structured

    Exchange-rate / reward distribution

  • RedemptionResearched unresolved

    Mechanics thin

  • FeesResearched unresolved
  • CustodyResearched unresolved

    Named custodian not located

  • RegulationResearched unresolved

    No wrapper-level license found

  • Assurance / auditResearched unresolved

    No audit located

  • Token controlResearched unresolved
  • Tokenization / chainVerified structured

    Solana SPL

  • DependenciesVerified structured
  • Geographic / eligibility restrictionsResearched unresolved

Open gaps

  • First-loss / loss allocation across the wrapper chain
  • Redemption timing, minimum, and settlement asset
  • Token control-plane mechanics (mint/burn/pause/upgrade)
  • Smart-contract audit report

Primary sources

RWA / Yield Asset Intelligence. No RWA score. No APY ranking. Unresolved states remain unresolved.