RWA 比較
AUTO 與 PRIME：消費者汽車貸款與 HELOC 之比較
僅按證據域比較。無總冠軍。 · 可發布（附說明）
AUTO · Hastra AUTO
- 消費信貸
- 封裝權利
- 消費貸款利息
- Solana
PRIME · Hastra PRIME
- 房屋淨值信貸（HELOC）
- 封裝權利
- HELOC 利息
- Solana
主要結構差異
- 底層信貸類型不同：AUTO 追蹤近優級消費者汽車貸款利息；PRIME 追蹤 HELOC 利息——兩者皆透過 Democratized Prime／Figure 基礎架構運作，但貸款資金池與發放機構不同（AUTO 為 Agora Data；PRIME 則為 Figure Technologies 自身發放）。
- 採用相同的包裝架構：兩者皆為疊加於 wYLDS→YLDS 鏈之上的 Hastra vault-stake 代幣，共用相同的法律請求權結構，並揭露相同的 50 個基點 Hastra 平台費用。
- 優先虧損揭露程度不對稱：AUTO 的準備金（約 2.5%）、Figure 的 2,500 萬美元緩衝及墊款率時程，皆已依 Hastra 官方頁面整理完成；而基礎版 PRIME 的 HELOC 資金池增信機制仍屬 RESEARCHED_UNRESOLVED——請勿將 AUTO 或 Strata 分層的數字套用至基礎版 PRIME。
揭露
- AUTO 與 PRIME 皆依賴相同的 wYLDS／YLDS 包裝層——該層若出現缺口，將對兩者造成類似的影響。
- PRIME 仍列為 附揭露可發布，因為「房屋所有人違約 → PRIME 持有人虧損」這條路徑，缺乏 AUTO 文件中所具備的結構化優先虧損／超額擔保（OC）時程安排。
域比較
法律請求權
AUTO · Hastra AUTO封裝權利 — AUTO 代表透過質押 wYLDS 所建立的 Hastra AUTO 資金池份額：質押行為會觸發一項程式化指令，將支持該 wYLDS 的 YLDS 出借至 Figure Democratized Prime Auto Pool。這屬於程式化的資金池出借風險敞口——並非直接持有個別汽車貸款——且 wYLDS 與 YLDS 並非相同的金融工具。
PRIME · Hastra PRIME封裝權利 — 屬於類似流動性質押（liquid-staking）形式的包裝請求權：PRIME 包裝一個 wYLDS 的質押倉位，而 wYLDS 本身又包裝 YLDS，藉此追蹤 Figure Democratized Prime 的 HELOC 貸款。PRIME 並非直接持有 HELOC，且 wYLDS 與 YLDS 並非相同的金融工具。
收益來源
AUTO · Hastra AUTO消費貸款利息 (浮動)
PRIME · Hastra PRIMEHELOC 利息 (浮動)
底層
AUTO · Hastra AUTO以車輛（新車及二手車）作為擔保的近優級（部分為次級）消費者汽車貸款，由 Agora Data 發放，並透過 Figure Forge 結構化為標準化的貸款參與代幣，再納入 Figure Democratized Prime Auto Pool。
PRIME · Hastra PRIME納入 Figure Democratized Prime 資金池的房屋淨值信用額度（HELOC）應收帳款，透過 YLDS／wYLDS 包裝鏈間接取得該收益。
損失承擔方
AUTO · Hastra AUTOA reserve account (sinking fund) builds to approximately 2.5% of outstanding principal over time and absorbs realized credit losses before any loss reaches AUTO/wYLDS holders; Figure separately commits a $25M equity stub / seed capital to the auto loan trust as first-loss protection alongside that reserve.
PRIME · Hastra PRIMERESEARCHED_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.
贖回
AUTO · Hastra AUTOUnstake/redeem AUTO for underlying wYLDS/YLDS exposure per Hastra vault mechanics.
PRIME · Hastra PRIMEUnstake/redeem PRIME for underlying wYLDS/YLDS exposure per Hastra vault mechanics.
投資者資格
AUTO · Hastra AUTOUNKNOWN
PRIME · Hastra PRIMEUNKNOWN
託管
AUTO · Hastra AUTOUnderlying auto loan receivables are pledged into a Delaware statutory trust under a Master Repurchase Agreement (MRA) between Agora and the trust — a bankruptcy-remote structure with an independent trust administrator whose only non-discretionary powers, in a default scenario, are to sell trust assets and remit proceeds to Democratized Prime lenders.
PRIME · Hastra PRIMEUnderlying HELOC receivables held within the Figure Democratized Prime program structure; named custodian not structured this pass.
費用
AUTO · Hastra AUTOplatform fee: 50 bps (0.50%) Hastra platform fee, netted out of the Democratized Prime pool rate before distribution to AUTO holders.
PRIME · Hastra PRIMEplatform fee: PRIME 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.
到期 / 存續期
AUTO · Hastra AUTO浮動收益 · 贖回時點：UNKNOWN
PRIME · Hastra PRIME浮動收益 · 贖回時點：UNKNOWN
審計 / 鑑證
AUTO · Hastra AUTO智慧合約審計 (—; 已核驗未結構化)
PRIME · Hastra PRIME智慧合約審計 (—; 已研究未確定)
代幣控制
AUTO · Hastra AUTOAUTO is minted by the vault-stake-auto program when wYLDS is staked; the AUTO/wYLDS exchange rate is maintained via Chainlink Data Streams and updated periodically by rewards administrators (verify_price).
PRIME · Hastra PRIMEHastra protocol-controlled (Solana vault-stake-prime).
監管結構
AUTO · Hastra AUTONo single securities/lending license instrument located for the AUTO wrapper token itself this pass; the underlying YLDS layer is a separately SEC-registered face-amount certificate (see YLDS record).
PRIME · Hastra PRIMENo 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).
證據時效
AUTO · Hastra AUTO2026-08-30
PRIME · Hastra PRIME2026-08-30
僅本地比較。禁用詞：safer、better、best、recommended、best yield、winner。Day-7：不部署。