VENUEVERITAS

RWA / 收益情报

PRIME Hastra PRIME

房屋净值信贷（HELOC）封装权利

Solana 上的 vault-stake-prime 代币，其兑换率追踪源自纳入 Democratized Prime 计划资金池的房屋净值信用额度（HELOC）收益，并经由 wYLDS→YLDS 包装链取得该收益。

发布状态: 可发布（附说明）

比较 RWA查看证据

收益从何而来？

追溯经济上的支付方。公示 APY 不是保证回报。

  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

一级来源
HELOC 利息
二级来源
未知
经济上的支付方
HELOC borrowers, via Figure-originated home equity lines pooled in the Democratized Prime HELOC program.
浮动 / 固定
浮动
毛收益 / 净收益
未确定
带日期的收益快照
未知

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.

已核验已结构化 · 来源

收益如何分配

机制
奖励分配
备注
Value accrues via vault exchange-rate appreciation (staking-style), not periodic cash interest paid directly to PRIME holders.

底层是什么？

仅基于一级证据的底层资产与策略。

纳入 Figure Democratized Prime 资金池的房屋净值信用额度（HELOC）应收帐款，通过 YLDS／wYLDS 包装链间接取得该收益。

  • HELOC loans

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

已核验已结构化 · 来源

出问题时会发生什么？

结构性损失路径——不是风险评分。未知保护保持 Unknown。

谁首先承担损失
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.
已记录的保护安排
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.
投资者敞口
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.

已研究未确定 · 来源

如何拿回资金？

一级赎回 ≠ 二级 DEX 流动性。资格是有范围的。

合格投资者
UNKNOWN
一级赎回
Unstake/redeem PRIME for underlying wYLDS/YLDS exposure per Hastra vault mechanics.
时点
UNKNOWN
结算资产
UNKNOWN
最低额
UNKNOWN
限制
UNKNOWN
二级流动性
Any secondary market trading (if listed) is not issuer redemption.

已研究未确定 · 来源

谁持有底层资产？

分别梳理资产托管、现金托管、加密资产托管与代币控制。

资产托管
Underlying HELOC receivables held within the Figure Democratized Prime program structure; named custodian not structured this pass.
现金托管
UNKNOWN
加密资产托管
Solana vault-stake-prime program.

See tokenControl block.

已研究未确定 · 来源

费用

毛收益与净收益不是一回事。不按 APY 排名。

  • 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 · 已核验已结构化 · 来源

监管

授权按实体 × 法域 × 工具界定——不是品牌标签。

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).

实体
Hastra
法域
未知
工具
未知
授权 / 注册
UNKNOWN

已研究未确定 · 来源

审计 / 鉴证

智能合约审计不等于基金审计或贷款审计。没有合并的「已审计」徽章。

  • 智能合约审计提供方未结构化日期未知 · No independently verified smart-contract audit report located for vault-stake-prime this pass.已研究未确定

智能合约 / 代币控制

运营控制——不是去中心化评分。

铸造
Hastra protocol-controlled (Solana vault-stake-prime).
销毁
UNKNOWN
暂停
UNKNOWN
冻结 / 黑名单
UNKNOWN
升级
UNKNOWN
白名单
UNKNOWN

已研究未确定 · 来源

代币化层

链
Solana
官方所有权记录
Onchain SPL balance in the vault-stake-prime program.
转让限制
UNKNOWN

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

已核验已结构化 · 来源

研究维度

  • PRIME 实际上持有什么？

    PRIME 包装 wYLDS，wYLDS 又包装 YLDS，而 YLDS 追踪 Figure Democratized Prime 的 HELOC 贷款。PRIME 并不直接持有 HELOC。

    已核验已结构化 · 来源

  • PRIME 与 AUTO 有何不同？

    采用相同的 Hastra 包装架构，但 PRIME 追踪 HELOC 利息，而 AUTO 追踪消费者汽车贷款利息——两者的底层贷款资金池不同。

    已核验已结构化 · 来源

  • 若 HELOC 违约，损失由谁吸收？

    在本次分析中仍为未知——整条包装链中的优先亏损（first-loss）分配机制尚未找到或整理（未收录）。

    已研究未确定 · 来源

哪些环节必须持续运转？

仅列重大依赖。数量不是风险评分。

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

证据域

  • Entity / issuer已核验已结构化

    Hastra + Figure entities named

  • Legal claim已核验已结构化

    Wrapped claim, two layers removed

  • Yield source已核验已结构化

    HELOC interest

  • Yield waterfall已核验已结构化
  • Loss waterfall已研究未确定

    First-loss position UNKNOWN

  • Underlying assets已核验已结构化

    HELOCs via wrapper chain

  • Distribution mechanism已核验已结构化

    Exchange-rate / reward distribution

  • Redemption已研究未确定

    Mechanics thin

  • Fees已研究未确定
  • Custody已研究未确定

    Named custodian not located

  • Regulation已研究未确定

    No wrapper-level license found

  • Assurance / audit已研究未确定

    No audit located

  • Token control已研究未确定
  • Tokenization / chain已核验已结构化

    Solana SPL

  • Dependencies已核验已结构化
  • Geographic / eligibility restrictions已研究未确定

未决缺口

  • 整条包装链中的优先亏损／损失分配机制
  • 赎回时程、最低金额及结算资产
  • 代币控制权机制（铸造／销毁／暂停／升级）
  • 智能合约审计报告

一级来源

RWA／收益资产情报。无评分。无 APY 排名。未解决状态保持未解决。