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OpenFi announces the launch of a $100 million USDC deposit yield program, with the first batch integrated into Pharos flagship RWA vault pAlpha as the core collateral asset
ME News message: On June 2 (UTC+8), the next-generation RWA collateralized lending protocol OpenFi announced that on the Pharos mainnet it has launched a USDC deposit yield program with a total size of $100 million. The initial tranche is $30 million, and depositors are expected to target a Supply APY of 10%. This is the first time that Pharos’ flagship fixed-income RWA vault, pAlpha, is supported at the protocol level as collateral assets by an external lending market, driving a deep integration of institutional-level RWA yields with on-chain stablecoin liquidity.
With this product, pAlpha holders can use pAlpha as collateral to borrow USDC in the future without redeeming the underlying institutional RWA positions, thereby unlocking dollar liquidity. USDC depositors, meanwhile, can earn Supply APY yields supported by cash flows from real credit assets. As the core collateral asset, pAlpha has a size of $50 million. It is curated by Pharos’ chief strategic partner AXIL, with asset allocation of 70% structured consumer credit tranches managed by R25, and 30% tokenized U.S. Treasuries managed by Anemoy (a sub-advisor of Janus Henderson). The vault is managed by Ascent Fund Services and audited by Ernst & Young.
The OpenFi team said that bringing institutional-grade fixed-income assets into the on-chain lending market allows users worldwide to access RWA yields via USDC that were previously only available to qualified institutions—an important milestone in scaling the RealFi narrative. Going forward, OpenFi will sequentially integrate more RWA collateral assets such as tokenized U.S. stocks, tokenized gold, and tokenized money market funds.
About OpenFi: A next-generation RWA collateralized lending protocol deployed on the Pharos network, incubated by the Pharos Foundation and Wanxiang Blockchain Laboratory. On the Pharos Atlantic testnet, it has cumulatively achieved $7.6 billion in TVL, 20.9 million transactions, and 500,000 unique wallets.
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