Pharos Network has launched Axil Prime Credit Vault, or APC, an onchain institutional-grade private credit strategy aimed at opening access to a segment that has largely been reserved for large funds, family offices, and institutional trading desks. The vault will be distributed through OKX Wallet, Binance Wallet, TopNod, and Kucoin Wallet, with a target APY of about 14.3% and a fundraising cap of $100 million in USDC.
Pharos said APC runs fully onchain and is designed to bring high-quality private credit exposure to a wider base of onchain depositors. The launch centers on distribution: the company said access to private credit has long been concentrated among professional institutions, even as the asset class has drawn large allocations from institutional capital seeking diversified returns with low correlation to public markets.
Wish Wu, co-founder and CEO of Pharos, said, “Institutions and professional investors always get first access to the best private credit opportunities. Pharos is committed to bridging the gap between RealFi value and real users, moving away from point farming or inflationary token yields and rooting returns in the real-world consumer credit cash flows that people interact with every day.”
Yield structure combines private credit exposure and ecosystem incentives
According to the announcement, Axil Prime Credit Vault uses institutional-grade infrastructure to provide exposure to a diversified private credit portfolio. Its target return is made up of two components: yield from the underlying private credit portfolio and ecosystem incentives in Pharos native token $PROS plus USDC.
Pharos said that structure is tied directly to real-world credit markets rather than crypto-native token issuance or speculative trading activity.
Axil manages the vault while R25 provides the RWA rails
APC is fully managed by Axil and deployed through the R25 protocol on the Pharos network. The three parties have distinct roles. Pharos serves as the distribution and settlement layer and provides access for RealFi users. Axil acts as credit manager and vault operator, handling portfolio construction and credit strategy execution. R25 supplies the real-world asset, or RWA, infrastructure that connects onchain capital with offchain credit assets.
Before launching APC, Pharos had already operated the pAlpha vault, which also focused on real yield. The company said that vault completed its full lifecycle without any security incidents. APC uses the same risk control and operating standards, extending that framework into private credit.
Public opening set for July 15
The vault is scheduled to open to the public on July 15, with a total fundraising cap of $100 million in USDC. Pharos said the subscription model follows an “earlier deposits, more benefits” approach: users who join sooner can accumulate more yield days before the formal lock-up period starts, which may lead to a higher overall return.
Depositors can participate with Circle-supported native USDC on Pharos or bridged USDC from Ethereum. Pharos said this reduces the friction involved in moving capital across networks.
APC will be available to eligible users through OKX Wallet, Binance Wallet, TopNod, and Kucoin Wallet, expanding distribution beyond a single ecosystem.
Project background
Pharos is an EVM-compatible Layer 1 focused on real-world finance, institutional-grade assets, compliant finance, and global capital liquidity. The project said it combines deep parallel execution, modular Special Processing Networks, and protocol-level compliance infrastructure, while integrating ZK-KYC / AML, AsyncBFT consensus, and dualVM support for both EVM and WASM. The stated goal is to support RWA, stablecoins, cross-border settlement, onchain yield markets, and programmable financial products at internet scale.
Pharos said it has established partnerships with institutions including Circle, Chainlink, Anchorage Digital, Morpho, and Centrifuge. The project was founded by former core management and technical team members from Ant Group. Its investors include Hack VC, Faction VC, Sumitomo Corporation, Flow Traders, and SNZ.
Axil is an institutional-grade RWA risk management service provider whose team includes professionals from BlackRock, HSBC, and HashKey. The company focuses on structuring and curating emerging-market private credit strategies, using AI-driven risk assessment and a multi-layer protection framework to target sustainable risk-adjusted returns.
R25 is described as an onchain asset management infrastructure layer for next-generation finance, combining diversified strategies with blockchain technology to help users reach expert-led onchain yield opportunities.