Axil Prime Credit 3M (R25)

About

Axil Prime Credit 3M is a 3-month USDC vault on Pharos, integrated under the R25 protocol — an RWA vault protocol offering institutional-grade private-credit strategies with curated risk management and on-chain transparency. The vault targets ~14.3% gross APY (~13% net after a 10% performance fee) and provides exposure to emerging-market consumer loans with multi-layer protection: over-collateralization, pledged bank accounts, and junior capital buffers, risk-curated by Axil.

Our integration exposes the vault through a familiar deposit/redeem flow, absorbing the epoch-window and RWA-settlement mechanics behind the standard interface. Users deposit USDC and receive APC3M, an ERC-20 share token representing their position; yield accrues via share-price appreciation.

The user flow:

1. Subscribe (deposit): During an epoch subscription window, users deposit USDC and receive APC3M shares.
2. Earn: The position accrues yield over the 92-day term.
3. Request redemption: During the exit-notice window, users submit an ERC-7540 redemption request. The requested shares continue to accrue through settlement.
4. Settlement: After the 92-day lock-up, R25 settles the redemption and pays out USDC at the epoch settlement NAV — there is no user-signed claim step. Positions without a redemption request by the exit-notice close automatically roll over into the next 92-day term.

Pending Actions

None.

R25 executes settlement on behalf of users, so there is no user-signed claim transaction. After a redemption request matures, claimable shares continue to display as an unstaking balance until the R25 payout lands, at which point they are settled automatically. Pending redemptions and their due dates can be tracked via our /stake/balances endpoint.

Considerations

• Epoch windows: Deposits are accepted only during subscription windows and redemption requests only during exit-notice windows. Attempting to enter or exit outside the relevant window is rejected.
• Lock-up and settlement: Funds are committed for a 92-day term. Redemptions requested during the exit-notice window are settled by R25 after the lock-up ends, with a settlement window of ~20 days before the payout lands.
• Automatic rollover: A position that does not have a redemption request submitted before the exit-notice window closes automatically rolls over into the next 92-day term.
• No claim step: Settlement is operator-driven by R25; users do not submit a claim transaction. Claimable shares remain visible as an unstaking balance until payout.
• Performance fee: The vault charges a 10% performance fee on yield. The target APY is quoted net of this fee.
• Subscription capacity: Deposits above the vault's remaining subscription capacity are rejected.
• Real-world asset risk: Returns depend on the performance of off-chain private-credit assets. While protected by over-collateralization, pledged bank accounts, and junior capital buffers, RWA exposure carries credit and settlement risk distinct from purely on-chain strategies.

List of Integration IDs

Pharos