PRIME is a private-credit token on Solana that gives holders a share of Figure's Democratized Prime home-equity lending pool. Figure's lending operations generate PRIME's wYLDS yield from interest spreads on real-world home-equity loans.
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PRIME is a private-credit token on Solana that gives holders a share of Figure's Democratized Prime home-equity lending pool. Figure's lending operations generate PRIME's wYLDS yield from interest spreads on real-world home-equity loans.
“Users may stake wYLDS on the Platform to receive PRIME, a liquid staking token representing participation in Democratized Prime HELOC lending pools operated by Figure Technologies, Inc.”
“vault-stake (97V7JsExNC6yFWu5KjK1FLfVkNVvtMpAFL5QkLWKEGxY) — accepts wYLDS and issues PRIME based on a Chainlink-sourced exchange rate.”
Overview
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Underlying
Home equity loans
APY
+6.81%
◎
Issuer
Hastra
◫
Collateralization
100%
How PRIME works
Users deposit USDC for wYLDS, then stake wYLDS to mint PRIME at a Chainlink-sourced exchange rate. Figure’s home-equity lending spreads and unused-liquidity interest fund returns, net of Hastra’s 50-basis-point fee. Yield automatically increases the Chainlink-tracked PRIME-to-wYLDS exchange rate. The integration guide permits immediate PRIME-to-wYLDS redemption, but Hastra’s terms warn unstaking may face delays or lockups. Users then request wYLDS redemption; an operator delivers USDC through CCTP after funding the off-ramp vault.
“Users may stake wYLDS on the Platform to receive PRIME, a liquid staking token representing participation in Democratized Prime HELOC lending pools operated by Figure Technologies, Inc.”
“vault-stake (97V7JsExNC6yFWu5KjK1FLfVkNVvtMpAFL5QkLWKEGxY) — accepts wYLDS and issues PRIME based on a Chainlink-sourced exchange rate.”
Sources · 5
Performance
Growth
Growth of $10,000 over 1 month
Growth
Growth of $10,000 over 3 months
Growth
Growth of $10,000 over 6 months
Growth
Growth of $10,000 over year to date
Growth
Growth of $10,000 over all history
Returns
As of August 8, 2026
1 mo
3 mo
6 mo
YTD
Since inception
Issuer
Hastra
Issuer
Signum Ltd., d/b/a Hastra
Hastra distributes Figure credit products through Solana-based tokens connected to Provenance Blockchain. PRIME places wYLDS liquidity into Figure’s Democratized Prime HELOC lending operations.
Structural credibility
Shared legal identity, ownership, people, incidents, and channels.
Service providers
Legal & regulatory structure
The legal claim, governing regime, and holder protections if the structure fails.
✓
Legal wrapper
Protects holders if the issuer fails.
If the issuer fails
WYLDS holders claim fully collateralized assets held by Hastra. Underlying Certificate holders are unsecured FCC creditors.More
FCC losses may impair payments. PRIME holders bear Figure HELOC defaults and Figure operational or financial distress. Hastra disclaims control over Figure lending.
“Lock up USDC (a U.S. dollar–backed stablecoin);
Receive in return a Solana-based token, wYLDS, representing a claim against fully collateralized assets held by Hastra.”
“The Certificates are unsecured and backed solely by the assets of FCC. Although FCC is required under
the Investment Company Act to maintain a minimum level of capital and reserves, and although the assets that FCC may hold as capital and
reserves are only those in which a District of Columbia life insurance company is authorized to invest, in the event that there are losses
on FCC’s assets, including assets that comprise FCC’s capital and reserves, FCC may not have sufficient resources to meet
its obligations, including making interest and/or principal payments on your Certificates.”
Custody
Where the backing sits, who can touch it, and which independent checks apply.
✓
Custodian
Holds the underlying, independent of the issuer.
Custodians
HastraRole detail
Hastra holds YLDS collateral backing wYLDS.
UMB BankRole detail
UMB Bank serves as custodian for the underlying Figure certificate issuer.
“This leg is operator-managed and includes a batching minimum (currently $2k) and may be subject to banking-hours delays during the YLDS → USDC conversion via Circle's CCTP.”
“Counterparty and Credit Risk: PRIME wYLDS depends on the performance of Figure's Democratized Prime HELOC lending operations. Risks include:
Borrower defaults on HELOC loans
Deterioration in collateral value (home equity)
Figure's operational or financial difficulties”
Opsec
Current onchain authority configuration first, followed by documented operational controls.
Freeze authority
A program-derived authority (PDA, controlling program not resolvable from the address alone)MoreSources · 2
3b8X44fLF9ooXaUm3hhSgjpmVs6rZZ3pPoGnGahc3Uu7
YBRBjnVxo7Cik6xwxMxkZMjAcytSW25efgk5ZPgojJU
Mint authority
A program-derived authority (PDA, controlling program not resolvable from the address alone)MoreSources · 2
“There is no guarantee that a liquid secondary market will exist for PRIME. You may be unable to sell or exchange PRIME at your desired price or at all. Unstaking wYLDS from PRIME may be subject to delays, lock-up periods, or other restrictions.”
“Users may stake wYLDS on the Platform to receive PRIME, a liquid staking token representing participation in Democratized Prime HELOC lending pools operated by Figure Technologies, Inc.”
Figure Certificate Company issues YLDS face-amount certificates, interest-bearing debt securities priced at $0.01 each and backed solely by its own assets. The Delaware corporation is registered with the SEC as a face-amount certificate company under the Investment Company Act of 1940.
“YLDS are unsecured face-amount certificates and solely backed by the assets of Figure Certificate Company (FCC), which is the issuer of the certificates.”
“As a subsidiary of Figure Markets Holdings, Inc., FCC is (absent exclusion or exemption) required to comply with certain limits on its activity, including investment and/or trading limitations on its portfolio and other limitations under applicable banking and securities laws.”
“Percentage of required reserve covered: 100%; Excess / (deficit) reserve: 0.5%. AUM for reserves is updated daily at the close of the market.”
Structure & quality
The 'Democratized Prime' HELOC+ pool that generates PRIME's yield consists predominantly of second-lien home-equity lines of credit (per Figure's published credit-profile disclosure: 82.68% second lien, weighted-average credit score 736, weighted-average post-origination CLTV 65.62%, and weighted-average coupon 10.76%). Figure states these HELOC+ loans sit in a bankruptcy-remote trust with an independent trust administrator, legally separating the collateral from the operating lender's balance sheet.More
No PRIME-specific loan-level tape, duration schedule, or geographic concentration breakdown is publicly disclosed.
“Counterparty and Credit Risk: PRIME wYLDS depends on the performance of Figure's Democratized Prime HELOC lending operations. Risks include:
Borrower defaults on HELOC loans
Deterioration in collateral value (home equity)
Figure's operational or financial difficulties”
“Hastra does not control Figure's lending operations and makes no representations regarding Figure's creditworthiness, loan underwriting standards, or ability to generate wYLDS.”
Transfer restrictions
Hastra permits permissionless Solana transfers but program-controlled sanctions rules can freeze addresses.DisputedMoreSources · 2
“Signum Ltd., a company organized under the laws of the British Virgin Islands (“Hastra”, “we”, “our” or “us”), a wholly owned subsidiary of Provenance Cayman Foundation, a Cayman foundation.”
Tax treatment
Accrued interest on the underlying YLDS certificates is paid monthly.MoreSources · 2
“FCC is not a bank, and the face-amount certificates … are not … insured by the Federal Deposit Insurance Corporation (FDIC).”
Regime
YLDS is SEC-registered under the Investment Company Act of 1940 as a face-amount certificate (issuer FCC, CIK 1974395); PRIME/wYLDS are unregistered offshore DeFi tokens issued via Signum Ltd (BVI), with US persons and OFAC/OFSI-sanctioned parties excluded.MoreSources · 3
“YLDS are registered under Section 5 of the U.S. Securities Act of 1933 and Figure Certificate Company is registered as an investment company under the U.S. Investment Company Act of 1940.”
“Hastra holds YLDS as collateral for wYLDS, but does not issue YLDS and makes no representations or warranties whatsoever regarding the nature, risk profile, regulatory status, or performance of YLDS or any associated parties.”
“Our initial assessment identified 9 findings across various severity levels: 1 Critical, 4 Medium, 2 Low, and 2 Informational. … All findings were thoroughly resolved”
“The operator calls complete_redeem once USDC has been bridged via Circle's CCTP. The RedemptionRequest PDA is closed and rent is returned to the user.”
“trade back to USDC through Raydium and Kamino protocols.”
Minimum2000
Prime unstake
Unstake at any…
Unstake at any time for wYLDS; no lock-up is described in product docs, though Hastra's ToS separately warns unstaking may be subject to delays or lock-up restrictions.MoreSources · 3
“When you unstake PRIME, you receive more wYLDS than you originally deposited.”
Minimum2000
Concentration
PRIME concentrates yield exposure in Figure's Democratized Prime HELOC pools
⌄
PRIME concentrates yield exposure in Figure's Democratized Prime HELOC pools. Solana operations depend on Chainlink and administrative operators.MoreSources · 3
“vault-stake requires a live Chainlink price. The call fails if the stored price is uninitialised ( price_timestamp == 0) or stale ( now - price_timestamp > price_max_staleness ). Rewards admins must call verify_price to refresh it.”
“YOU EXPRESSLY AGREE THAT YOU ARE NOT A CITIZEN OF OR LOCATED IN Belarus, the Central African Republic, The Democratic Republic of Congo, the Democratic People’s Republic of Korea, the Crimea, Donetsk People’s Republic, and Luhansk People’s Republic regions of Ukraine, Cuba, Iran, Libya, Somalia, Sudan, South Sudan, Yemen, or Zimbabwe.”
“The entities that support the ability of Figure Transferable Certificate holders to engage in peer-to-peer and ATS transfers, including
the Transfer Agent, the Provenance Blockchain Foundation, and the Provenance Blockchain, are not licensed under the virtual currency or
money transmission regulations of any state in the United States or registered with the Financial Crimes Enforcement Network”
Issuer failure
Hastra holds YLDS collateral but disclaims responsibility for YLDS risks and performance
⌄
Hastra holds YLDS collateral but disclaims responsibility for YLDS risks and performance. Operator failure could impair USDC off-ramping.DisputedMoreSources · 2
“Hastra holds YLDS as collateral for wYLDS, but does not issue YLDS and makes no representations or warranties whatsoever regarding the nature, risk profile, regulatory status, or performance of YLDS or any associated parties.”
“an OCC-regulated digital asset trust bank … maintained in qualified custody through BitGo Bank & Trust, with institutional-grade controls and offline key management.”
“Each wYLDS is backed 1:1 with YLDS held in Hastra's reserve … Hastra uses these funds to purchase YLDS from Figure Markets.”
Credit / counterparty
PRIME holders carry indirect credit exposure to the individual homeowner-borrowers who must keep paying interest for yield to flow through
⌄
PRIME holders carry indirect credit exposure to the individual homeowner-borrowers who must keep paying interest for yield to flow through. Holders also carry secondary credit exposure to Figure Certificate Company (FCC), the unsecured issuer of the YLDS security that wYLDS wraps.MoreSources · 3
“YLDS are unsecured face-amount certificates and solely backed by the assets of Figure Certificate Company (FCC).”
Bridge & oracle
Bridge failures can lose funds or interrupt PRIME yield transfers from Provenance to Solana
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Bridge failures can lose funds or interrupt PRIME yield transfers from Provenance to Solana. Stale or uninitialized Chainlink prices block PRIME redemptions.DisputedMore
Manipulated or inaccurate oracle prices can cause incorrect redemption pricing and financial loss.
“Bridge protocols carry risks including:
Smart contract vulnerabilities in bridge infrastructure
Loss of funds during cross-chain transfers
Delays or failures in cross-chain messaging”
“The amount of wYLDS returned is calculated using the live Chainlink price at the time of the call: wYLDS_returned = prime_amount * price / price_scale . The call will fail if the stored Chainlink price is stale ( past price_max_staleness ) or uninitialised.”
“Smart contracts may contain vulnerabilities, bugs, or security flaws that could result in loss of funds. While smart contracts may be audited, no audit guarantees security or functionality.”
“vault-stake requires a live Chainlink price. The call fails if the stored price is uninitialised ( price_timestamp == 0) or stale ( now - price_timestamp > price_max_staleness ). Rewards admins must call verify_price to refresh it.”
Exit risk
Authority pauses can block redemptions
⌄
Authority pauses can block redemptions. Each user may hold one pending USDC request.More
“The off-ramp vault may not yet hold sufficient USDC; the operator controls funding timing.”
Depeg / liquidity
PRIME's secondary-market price can diverge from its underlying wYLDS-per-share redemption value because Hastra's Terms of Use state there is no guarantee of a liquid secondary market, and holders may be unable to sell or exchange PRIME at their desired price or at all
⌄
PRIME's secondary-market price can diverge from its underlying wYLDS-per-share redemption value because Hastra's Terms of Use state there is no guarantee of a liquid secondary market, and holders may be unable to sell or exchange PRIME at their desired price or at all. Redemption value is set by a Chainlink oracle rather than a hard peg, and the program design 'decouples redemption rate from pool balance,' meaning oracle price and on-chain trading price are not mechanically forced together.More
Underlying wYLDS is only a claim on YLDS, an unsecured Figure Certificate Company obligation, adding a further potential source of value divergence if FCC's creditworthiness deteriorates.
“We may require you to provide additional information or documentation to verify or confirm your eligibility, including on a periodic or ongoing basis.”
Admin powers
The program authority can pause vault-mint and vault-stake, blocking deposits and redemptions.DisputedMoreSources · 1
“Hastra is a Solana-based distribution layer for Figure’s credit infrastructure, built on Provenance Blockchain with yield-bearing tokens issued as SPL assets.”
“vault-stake requires a live Chainlink price. The call fails if the stored price is uninitialised ( price_timestamp == 0) or stale ( now - price_timestamp > price_max_staleness ). Rewards admins must call verify_price to refresh it.”
“Hastra holds YLDS as collateral for wYLDS, but does not issue YLDS and makes no representations or warranties whatsoever regarding the nature, risk profile, regulatory status, or performance of YLDS or any associated parties.”
“The off-ramp vault may not yet hold sufficient USDC; the operator controls funding timing.”
Filled-verified
None
Holder's claimFilled-verifiedNone
Underlying issuerFilled-verifiedNone
Yield sourceFilled-verifiedNone
Yield mechanicsFilled-verifiedNone
Legal entityFilled-verifiedNone
What the issuer doesFilled-verifiedNone
LaunchedFilled-verifiedNone
Operating historyFilled-verifiedNone
Service providersFilled-verifiedNone
RegimeFilled-verifiedNone
VehicleFilled-verifiedNone
Bankruptcy remoteFilled-verifiedNone
If the issuer failsFilled-verifiedNone
Transfer restrictionsFilled-verifiedNone
CustodiansFilled-verifiedNone
AttestationsFilled-verifiedNone
Attestation frequencyFilled-verifiedNone
AuditsFilled-verifiedNone
Admin powersFilled-verifiedNone
UpgradeabilityRejected-retryNone
Mint authorityFilled-verifiedNone
Freeze authorityFilled-verifiedNone
Fee scheduleFilled-verifiedNone
Exit pathsFilled-verifiedNone
Underlying / economicFilled-verifiedNone
Issuer failureFilled-verifiedNone
CustodianFilled-verifiedNone
Hack / smart contractFilled-verifiedNone
RegulatoryFilled-verifiedNone
Who can hold/mintFilled-verifiedNone
Source documentsFilled-verifiedNone
Rejected facts
What it is
PRIME is a private-credit pool-share token on Solana that gives holders a share of Figure's home-equity lending pool. Figure's home-equity credit lines generate PRIME's wYLDS yield through interest spreads.DisputedMore
Users obtain PRIME by staking wYLDS at a Chainlink-sourced exchange rate. PRIME accrues returns automatically through an appreciating exchange rate against wYLDS.
“Users may stake wYLDS on the Platform to receive PRIME, a liquid staking token representing participation in Democratized Prime HELOC lending pools operated by Figure Technologies, Inc.”
“Automatic via Chainlink-tracked PRIME/wYLDS exchange rate (CPI mint into stake vault + verify_price ); merkle epochs are supplemental wYLDS rewards”
Upgradeability
Hastra versioned its programs; v0.0.5 removed PRIME unbonding and made redemption immediate. The upgrade authority, mechanism, and delay remain undisclosed.UnverifiedMoreSources · 1
The program authority can pause both Hastra programs, blocking deposits and redemptions. Program-controlled freeze authorities can freeze wYLDS and PRIME addresses under TRM sanctions rules.DisputedMore
An administrator controls the two-step wYLDS-to-USDC completion flow.
“Counterparty and Credit Risk: PRIME wYLDS depends on the performance of Figure's Democratized Prime HELOC lending operations. Risks include:
Borrower defaults on HELOC loans
Deterioration in collateral value (home equity)
Figure's operational or financial difficulties”
Hack / smart contract
Bridge smart-contract vulnerabilities can cause lost funds during cross-chain transfers.UnverifiedMoreSources · 1
“Bridge protocols carry risks including:
Smart contract vulnerabilities in bridge infrastructure
Loss of funds during cross-chain transfers
Delays or failures in cross-chain messaging”
Canonical deployment
Solana is the documented base-layer deployment. Solana wYLDS is natively minted as an SPL receipt representing YLDS collateral bridged by Hastra.UnverifiedMore
“wYLDS is the base-layer wrapped token on Solana, acting as a custodial wrapper for YLDS, the underlying SEC-registered stablecoin. It acts as a 1:1 receipt for the USDC deposited into the vault token account.”
“Hastra is a Solana-based distribution layer for Figure’s credit infrastructure, built on Provenance Blockchain with yield-bearing tokens issued as SPL assets.”
Admin powers
The program authority can pause vault-mint and vault-stake. Pauses block deposits and redemptions.DisputedMore
Program-controlled freeze authorities can freeze sanctioned addresses.
“FCC was incorporated on April 13, 2023 as a Delaware corporation and has been, since its inception, wholly owned by Figure Technologies, LLC (f/k/a Figure Technologies, Inc.) (“FT”).”
Issuer ownership
FCC's parent ownership is disputed across issuer disclosures.DisputedMoreSources · 4
“FCC was incorporated on April 13, 2023 as a Delaware corporation and has been, since its inception, wholly owned by Figure Technologies, LLC (f/k/a Figure Technologies, Inc.) (“FT”).”
“As a subsidiary of Figure Markets Holdings, Inc., FCC is (absent exclusion or exemption) required to comply with certain limits on its activity, including investment and/or trading limitations on its portfolio and other limitations under applicable banking and securities laws.”
“Hastra is a Solana-based distribution layer for Figure’s credit infrastructure, built on Provenance Blockchain with yield-bearing tokens issued as SPL assets.”
Depeg / liquidity
PRIME's secondary-market price may diverge from net asset value. Investors may lose some or all invested capital.UnverifiedMoreSources · 1
“While Hastra facilitates the exchange of USDC for wYLDS through its interfaces and smart contracts, Hastra does not act as a custodian of user funds.”
“Hastra holds YLDS as collateral for wYLDS, but does not issue YLDS and makes no representations or warranties whatsoever regarding the nature, risk profile, regulatory status, or performance of YLDS or any associated parties.”
Regime
Figure issued the underlying SEC-registered YLDS; PRIME's offering regime and regulatory exemptions remain undisclosed.DisputedMoreSources · 2
“The wYLDS token is backed 1:1 by YLDS, a yield-bearing stablecoin issued by Figure and registered with the U.S. Securities and Exchange Commission (SEC).”
Incidents & track record
Provided evidence documents no realized depeg, halt, enforcement action, or lawsuit involving Hastra or PRIME. Hastra warns PRIME may trade below net asset value.UnverifiedMore
Large redemptions can fail temporarily when the stake vault lacks funds. Stale Chainlink prices block deposits and redemptions. Version 0.0.5 removed PRIME’s unbonding period.
“vault-stake requires a live Chainlink price. The call fails if the stored price is uninitialised ( price_timestamp == 0) or stale ( now - price_timestamp > price_max_staleness ). Rewards admins must call verify_price to refresh it.”
Hastra’s disclosed ecosystem bridges Figure’s YLDS into wYLDS and stakes wYLDS into PRIME. The evidence provides no dated founding milestone or historical scale.DisputedMoreSources · 2
“Hastra is a Solana-based distribution layer for Figure’s credit infrastructure, built on Provenance Blockchain with yield-bearing tokens issued as SPL assets.”
Service providers
Figure operates the HELOC lending pools. Chainlink supplies exchange-rate data.DisputedMore
“Users may stake wYLDS on the Platform to receive PRIME, a liquid staking token representing participation in Democratized Prime HELOC lending pools operated by Figure Technologies, Inc.”
“The PRIME exchange rate appreciates over time. 1 PRIME becomes redeemable for more wYLDS. The on-chain PRIME/wYLDS exchange rate is maintained by Chainlink Data Streams and updated periodically by rewards administrators via verify_price.”
“Signum Ltd., a company organized under the laws of the British Virgin Islands (“Hastra”, “we”, “our” or “us”), a wholly owned subsidiary of Provenance Cayman Foundation, a Cayman foundation.”
Structure & quality
The underlying combines residential HELOC credit exposure with unutilized wYLDS liquidity. The evidence discloses no maturity, borrower-concentration, leverage, or credit-quality breakdown.UnverifiedMoreSources · 3
“Users may stake wYLDS on the Platform to receive PRIME, a liquid staking token representing participation in Democratized Prime HELOC lending pools operated by Figure Technologies, Inc.”
Who can hold/mint
Anyone can hold wYLDS and PRIME without KYC; direct YLDS mint and redemption require KYC and are open to eligible retail and institutions, including U.S. personsUnverifiedMoreSources · 1
“PRIME is obtained by staking wYLDS at a 1:1 ratio”
Source documents
Figure Technology Solutions Form 10-Q for Q1 2026 -- confirms Signum Ltd. (dba Hastra) as the Hastra protocol operator and references Hastra's holding of YLDS.UnverifiedMoreSources · 1
Hastra Terms of Use/Service -- governs PRIME/wYLDS eligibility, KYC, liability cap ($100), and disclaimers; last updated 2025-12-03.UnverifiedMoreSources · 2
“HASTRA'S TOTAL LIABILITY ARISING OUT OF OR IN CONNECTION WITH THESE TERMS … EXCEED ONE HUNDRED U.S. DOLLARS ($100).”
Onboarding
Complete KYC identity verification and OFAC/OFSI sanctions/jurisdiction screening before accessing Hastra's site or protocol; the underlying YLDS security separately requires its own KYC onboarding to earn interest or redeem.UnverifiedMoreSources · 2
“If Hastra determines that you are ineligible or have breached any of your representations or warranties under this section, we may block your access to the Site.”
Concentration
PRIME's yield and value are concentrated in a single external program -- Figure's Democratized Prime HELOC+ lending pool -- and a single underlying asset class of home-equity lines of credit, with no diversification across other loan types or originators. Figure's own HELOC credit-profile disclosure shows heavy concentration in second-lien loans (82.68% of the illustrative 2025 Q3 pool), which are subordinate to first mortgages and typically carry higher loss severity in a downturn.UnverifiedMore
The base collateral wrapper is also concentrated in a single stablecoin pairing, wYLDS/YLDS, so PRIME has no exposure diversification away from Figure/Hastra-related counterparties.
PRIME and wYLDS are unregistered token wrappers issued by an offshore BVI entity, and Hastra's Terms explicitly exclude U.S. persons and residents of OFAC/OFSI-sanctioned jurisdictions from participating.UnverifiedMore
The underlying YLDS security is SEC-registered under the Investment Company Act of 1940 as a face-amount certificate, so any adverse SEC action, rule change, or loss of that registration at the FCC layer could disrupt or devalue the YLDS backing wYLDS/PRIME. Because PRIME's own legal status is not established by any registration statement or disclosed exemption, its treatment under U.S. or other securities laws remains uncertain.
“YLDS represents a blockchain-based face-amount certificate officially registered with the US SEC under the Investment Company Act of 1940.”
Exit paths
KYC'd YLDS holders may redeem certificates directly with Figure Markets at face value plus accrued interest, settled as fast as same day via credit-line-backed liquidity; minimum is one certificate ($0.01), no surrender fee.UnverifiedMoreSources · 2
“redemption at face value plus accrued and unpaid interest, subject to the issuer's and platform's operating rules … access is limited to approved accounts.”
Informal Systems conducted a Solana program security audit of Hastra's vault-mint and vault-stake programs, Sept 24–Nov 18, 2025, finding 1 Critical, 4 Medium, 2 Low and 2 Informational issues, all reported resolved before mainnet launch.DisputedMoreSources · 1
“In September 2025, Figure engaged Informal Systems to conduct a comprehensive security audit … All findings were thoroughly resolved”
Transfer restrictions
PRIME is a freely transferable Solana token but subject to program-controlled freeze authority (up to 5 admins) and mandatory KYC for onboarding/minting; US persons and OFAC/OFSI-sanctioned persons and jurisdictions (Cuba, Iran, North Korea, Syria, Crimea/Donetsk/Luhansk) are excluded.UnverifiedMoreSources · 3
“You are not a citizen, resident, or organized in... the United States of America... Cuba, Iran, North Korea, Syria, or the Crimea, Donetsk, or Luhansk regions”
“All holders must successfully onboard and complete KYC, with eligibility varying by jurisdiction … not located in … any country or territory subject to OFAC or OFSI sanctions.”
Holdings
Goldman Sachs Financial Square Treasury money-market fund — 0.39% of FCC's reserve portfolio backing YLDS, as of 2026-03-31.UnverifiedMoreSources · 1
“Stake wYLDS on Hastra to receive PRIME, your liquid staking token for HELOC lending pools”
Composition
PRIME is backed 1:1 by wYLDS, which is backed 1:1 by YLDS held in Hastra's reserve. YLDS is an SEC-registered face-amount certificate of Figure Certificate Company (FCC), backed solely by FCC's own asset portfolio — short-duration U.S.DisputedMore
Treasury bills and Treasury repurchase agreements (formerly prime-money-market-fund-style securities). As of 2026-03-31, FCC's approximately $600.8 million portfolio was about 64.84% UMB Bank overnight Treasury repo, 34.77% Treasury bills, and 0.39% Goldman Sachs Financial Square Treasury money-market fund. PRIME's own yield, distinct from this reserve backing, is generated separately by deploying staked wYLDS into Figure's 'Democratized Prime' HELOC+ lending pool.
“economics tied to securities similar to those held by prime money market funds and later to short-term Treasury securities and repo involving Treasuries.”
“Real Assets: Backed by actual home equity lines of credit.”
Holder's claim
On-chain redemption right to wYLDS from Hastra's vault only; not a fund share; whether this extends to an enforceable claim against YLDS reserves or Figure Certificate Company is disputed.DisputedMoreSources · 2
Figure Certificate Company (FCC) Form 10-Q for the quarter ended 2026-03-31, disclosing the composition of YLDS's backing portfolio (UMB Bank Treasury repo, Treasury bills, Goldman Sachs money-market fund).UnverifiedMoreSources · 1
“Hastra is a DeFi protocol built by Figure Technologies, a fintech company focused on blockchain-based financial products and is operated by the Provenance Blockchain Foundation.”
Exit risk
Hastra's Terms disclose that unstaking wYLDS from PRIME 'may be subject to delays, lock-up periods, or other restrictions.' Separately, the wYLDS→USDC redemption path can stall if the off-ramp vault lacks sufficient USDC, since completion requires an operator to bridge funds via Circle's CCTP before finalizing the redemption. A surge of redemption requests could therefore be gated by liquidity or operational bottlenecks, with no disclosed cap or notice-period mechanics.UnverifiedMoreSources · 2
Hastra publishes a public help/documentation center (help.hastra.io) containing explanatory articles on PRIME and wYLDS ("What is PRIME (Staked wYLDS)?", "How Is the PRIME Rate Determined?"), integration guides for Solana and Ethereum, and a dedicated risk-disclosure article ("Risks Article"), serving as the issuer's primary user-facing documentation set rather than a formal legal prospectus.UnverifiedMoreSources · 1
“Understanding wYLDS and PRIME: Hastra's Ecosystem ... What is PRIME (Staked wYLDS)? ... How Is the PRIME Rate Determined? ... Hastra ETH Programmatic Integration Guide ... Hastra SOL Programmatic Integration Guide ... Understanding DeFi Lending ... Risks Article”
Source documents
The Figure Certificates (YLDS/wYLDS) underlying PRIME's Democratized Prime structure are offered under a formal SEC prospectus ("Figure Certificate Company Prospectus," dated February 20, 2025, SEC EDGAR filing), which discloses that the Certificates are unsecured, solely backed by the assets of Figure Certificate Company, are not bank deposits or FDIC-insured, and will not be listed on any national securities exchange (though Figure Transferable Certificates may trade on a registered ATS or peer-to-peer on the Provenance Blockchain).UnverifiedMoreSources · 1
“Figure Certificate Company Prospectus Dated February 20, 2025... Figure Certificates (as defined below) are unsecured and solely backed by the assets of Figure Certificate Company.”
Exit paths
Alternative exit path: instead of using Hastra's native unstake function, PRIME holders can sell PRIME directly on secondary-market DEX liquidity pools — Raydium and Orca on Solana, and Uniswap V3 on Ethereum (PRIME/USDC pair) — for instant settlement at the prevailing pool price rather than the protocol's NAV-based redemption rate. This path has no protocol-imposed minimum or cap, but pricing is subject to pool liquidity/slippage and DEX trading fees (not disclosed by Hastra) rather than Hastra's stated 0% redemption fee.UnverifiedMoreSources · 2
“Hastra PRIME (PRIME) trades on Uniswap V3, Orca, and Raydium (CLMM).”
Custodians
Figure Certificate Company (FCC), issuer of the YLDS/wYLDS certificates underlying Democratized Prime (which PRIME deposits into), is required by its SEC-filed Custody Agreement to hold 'required reserves' (per Section 28(a) of the Investment Company Act of 1940) with a qualified bank/trust custodian, structured as a face-amount certificate company under Section 4(1) of the 1940 Act. The custodian holds securities, underlying shares, and monies for FCC's benefit but is contractually not responsible for verifying FCC's compliance with the required-reserves calculation itself.UnverifiedMoreSources · 1
“The Fund shall, from time to time, deliver to and maintain with Custodian (and, in the Fund's sole discretion, one or more additional custodians) qualified investments having at all times an aggregate value at least equal to the amount the Fund is required to maintain as reserves pursuant to Section 28(a) of the 1940 Act”
Vehicle
The wYLDS/YLDS leg underlying PRIME's Democratized Prime structure is issued as "Figure Certificates" by Figure Certificate Company (FCC), a wholly-owned indirect subsidiary of Figure Markets Holding Inc. (FMHI), which is itself a wholly-owned subsidiary of Nasdaq-listed Figure Technology Solutions, Inc.UnverifiedMore
(FTS) following an August 2025 corporate recombination and FTS's IPO on September 12, 2025.
“FMHI indirectly, through its wholly-owned subsidiary, owns all of the equity of FCC... In August 2025, FTS and FMHI recombined their businesses... FMHI became a wholly-owned subsidiary of FTS. Subsequently, on September 12, 2025, FTS completed its initial public offering.”
Exit paths
Standard redemption path: holders unstake PRIME at any time, with the vault burning PRIME and returning wYLDS 1:1; redemption is listed as instant, with 0% redemption fee and no stated minimum redemption amount or cap; yield accrued continuously is realized upon unstaking.UnverifiedMoreSources · 2
“PRIME can be unstaked back to wYLDS at any time with no permanent lock-up, the vault burning PRIME and returning wYLDS. No minimum redemption amounts apply.”
Subscription (mint) fee for acquiring PRIME is 0%, charged by neither issuer nor protocol; subscription time is listed as instant.UnverifiedMoreSources · 1
“Subscription Time
Instant
Min. Investment
—
Subscription Fees
0 %”
Fee schedule
Hastra charges a platform fee of 50 basis points (0.50% annualized), deducted directly from the yield distributed to PRIME holders before it reaches them (i.e., taken from the spread between the Democratized Prime pool clearing rate/wYLDS interest and the rate paid to holders).UnverifiedMoreSources · 1
