Introducing PAPY—the Bitwise Premium RWA Vault, launching on
@Morpho with
@withAUSD.
PAPY earns yield by lending AUSD deposits programmatically against overcollateralized tokenized real-world assets—durable, traditional credit, brought onchain.
Loans are secured by a diversified basket of RWAs, including:
- PST by
@humafinance — short-duration cross-border payment financing to institutions
- sUSDai by
@USDai_Official — loans backed by the GPUs that power AI
- PRIME by
@HastraFi — tokenized claims collateralized by prime home equity, in partnership with
@Figure
Deposits are made in AUSD, Agora's stablecoin, which is fully backed by short-term U.S. Treasuries, overnight and reverse repo, and other liquid assets.
Bitwise determines the collateral and programs the risk parameters so you can access onchain yield backed by real-world value.
PAPY is live now on Morpho.
TradFi credit on DeFi rails. Onchain finance is here.
For more information, visit
onchain.bitwiseinvestments.c…