Bitwise Launches RWA Vault PAPY on Morpho

Bitwise will launch the RWA vault PAPY on the lending protocol Morpho, planning to programmatically lend deposits of the stablecoin AUSD issued by Agora to over-collateralized tokenized real-world assets, targeting an annual yield of 5%-6%, with a capacity limit of approximately $1 billion. The collateral includes PST issued by Huma Finance (45%), PRIME issued in collaboration with Hastra and Figure (30%), and sUSDai issued by USDai (25%). The vault is deployed on Ethereum, with a management fee of 0.39%, no performance fees, and no lock-up period for deposits and withdrawals.

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