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Phoenix Research
@0xPhoenix77
🪶 Defi Researcher · RWA Arc DM TG for collab:
1.2K Following    14.4K Followers
For me, @HastraFi $PRIME stands as one of the highest-quality RWA pools on @pendle_fi, especially within the consumer credit/mortgage-related RWA segment. Summary of the yield source behind Hastra $PRIME: + It is not focused on first mortgages, but primarily on Home Equity Line of Credit (HELOC). + HELOCs are loans extended to homeowners who already own their property, using the remaining equity in the home as collateral for additional borrowing. These are real-world debts originated by Figure for its customers. + @Figure collects interest from these homeowners → the interest flows into the pool → holders of PRIME receive their share as yield. + PRIME is the token that represents entitlement to interest from this real HELOC pool. Built on blockchain, it allows on-chain retail users to trade, stake, and use it as collateral across DeFi. Key strengths in safety and structure: + Multiple layers of robust protection: 108% over-collateralization, automated liquidation, originator substitution, paydown at 98% LTV, and BWIC liquidation. + Zero realized losses since launch rare achievement in RWA credit. + Figure brings a strong track record, including AAA ratings on previous securitizations. Compared to other RWA pools on Pendle: + On par with top private credit or reinsurance pools such as @onrefinance + Offers a notably stronger risk profile than pools like Saturn (sUSDat) or Apyx (apyUSD), which rely on STRC/Bitcoin-backed dividends. + While it carries slightly higher credit risk than pure Treasury RWA pools, it compensates with a significantly higher yield of approximately 5.9% fixed APY. If you're looking for solid RWA exposure with strong downside protection and attractive fixed yield, Hastra $PRIME is definitely worth a close look.
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Plasma is starting its own DeFi summer on @pendle_fi. The key signal goes beyond APY. These 4 markets are splitting capital into different roles inside the @Plasma ecosystem. 1. Fixed APY hunter - PT yzUSD 8.37% PT yzUSD currently offers the highest fixed APY on Plasma Pendle, with maturity on July 30. This pool represents “duration capital”: users willing to lock into a clear maturity for predictable yield. If this market expands, it shows real fixed-income demand forming on Plasma. 2. Leverage king - YT sUSDe 265x This is the main market right now, with ~$85M liquidity and ~$5.2M 24h volume. YT sUSDe acts as Plasma’s volume engine. Users are trading future yield, points, and incentive expectations. This is the layer that attracts traders, whales, and attention fastest. 3. Balanced yield - syzUSD syzUSD has 7.16% underlying APY and 7.13% fixed APY. This pool works like a yield-routing layer, letting capital rotate between fixed return and variable upside. It helps Plasma form a more flexible yield structure. 4. Stable play - PT USDe 4.78% PT USDe is the base liquidity layer for stablecoin holders. It gives users a simple place to park stablecoin capital with clear fixed yield. Overall, Pendle is helping Plasma build its own yield curve: PT brings stable capital, YT drives volume, SY adds flexibility, and USDe anchors stablecoin liquidity.
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