Consumer auto loans
AUTO is a private-credit token on Solana that gives holders a share-based claim on yield from pooled consumer auto loans. Agora originates the loans through Figure's marketplace.
AUTO is a private-credit token on Solana that gives holders a share-based claim on yield from pooled consumer auto loans. Agora originates the loans through Figure's marketplace.
“AUTO represents a share-based position in the AUTO pool. Unlike the ETH flow, on Solana yield does not require a manual claim — it accrues through an appreciating Chainlink-sourced exchange rate.”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora. Diversified, real-world backed, built for DeFi.”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora.”
“As yield flows into the stake vault, the Chainlink price appreciates — 1 AUTO becomes redeemable for more wYLDS over time.”
“AUTO yield is generated through Demo Prime's Auto lending operations, providing exposure to real estate-backed lending.”
Underlying
Consumer auto loans
APY
+8.00%
Issuer
Hastra
Collateralization
240%
Users swap Solana USDC for wYLDS, then stake wYLDS to mint AUTO shares at a Chainlink-sourced exchange rate. Borrower payments produce pool yield, while unutilized liquidity earns wYLDS interest; Hastra deducts 50 basis points. Yield entering the vault raises the Chainlink-sourced exchange rate, making each AUTO redeemable for more wYLDS. Holders burn AUTO atomically for wYLDS without queuing; returning to USDC requires an operator-completed redemption request.
Disputed“Stake wYLDS on Hastra to receive AUTO, your liquid staking token for Auto lending pools.”
“accepts wYLDS and issues AUTO shares based on a Chainlink-sourced exchange rate.”
“This is real yield from real borrowers making real car payments, not token emissions or liquidity mining rewards.”
“including both the Democratized Prime pool rate (a market rate based on supply and demand within the protocol) and wYLDS interest on unutilized pool liquidity”
“net of the 50 bps Hastra fee”
“As yield flows into the stake vault, the Chainlink price appreciates — 1 AUTO becomes redeemable for more wYLDS over time.”
Exposure chain
AUTO wraps YLDS, which holds consumer auto loans.
“AUTO represents a share-based position in the AUTO pool. Unlike the ETH flow, on Solana yield does not require a manual claim — it accrues through an appreciating Chainlink-sourced exchange rate.”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora. Diversified, real-world backed, built for DeFi.”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora.”
“As yield flows into the stake vault, the Chainlink price appreciates — 1 AUTO becomes redeemable for more wYLDS over time.”
“AUTO yield is generated through Demo Prime's Auto lending operations, providing exposure to real estate-backed lending.”
Growth of $10,000 over 1 month
Growth of $10,000 over all history
$10,065.35
As of August 8, 2026
1 mo
Since inception
AUTO
+0.63%
Signum Ltd., d/b/a Hastra
Shared legal identity, ownership, people, incidents, and channels.
Service providers
The legal claim, governing regime, and holder protections if the structure fails.
Protects holders if the issuer fails.
“Located in, incorporated or otherwise established in, or resident of, any country or territory that is the subject of sanctions or embargoes imposed by the office of Foreign Assets Control ("OFAC") of the U.S. Treasury Department or the Office of Financial Sanctions ("OFSI") of HM Treasury of the United Kingdom”
“Both programs include account freeze/thaw functionality for their respective tokens and maintain administrator lists for governance.”
Where the backing sits, who can touch it, and which independent checks apply.
Third-party checks on the operation.
“Across two collaborative engagements in March and April 2026, Sherlock audited the Hastra protocol — Figure Technologies' institutional-grade tokenized vault system (USDC → wYLDS yield vault → PRIME staking vault) — covering both its Ethereum (Solidity) and Solana (Anchor/Rust) implementations.”
“The Chainlink Data Streams NAV integration , including the feed verifier and NAV engine on the Ethereum side and the corresponding price-verification path on the Solana side.”
Fee
Rate
Charged by
“Yield from Democratized Prime flows through to Hastra and is distributed to AUTO token holders (minus the applicable Hastra Platform fee of 50bps) on Solana”
“including both the Democratized Prime pool rate...and wYLDS interest on unutilized pool liquidity, net of the 50 bps Hastra fee.”
0.5%
—
The settlement ladder for exiting your position.
“Burns wYLDS from the user and creates a RedemptionRequest PDA.”
“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.”
Underlying / economic
AUTO yield varies with lender supply and borrower demand
“Yield variability. The target yield of approximately ~9%* is not fixed. It is determined continuously by the utilization function and will move based on the balance of lender supply and borrower demand.”
“Credit risk. The underlying loans are near-prime and subprime consumer auto credit. The structural protections described above are designed to absorb those losses, but they do not eliminate credit risk entirely.”
Current onchain authority configuration first, followed by documented operational controls.
Supply and mint authority
Oracle dependencies
A stale or uninitialized price makes redemption fail. Unavailable updates eventually trigger the configured staleness failure.
“Unlike the ETH flow, on Solana yield does not require a manual claim — it accrues through an appreciating Chainlink-sourced exchange rate.”
“The vault-stake-auto program supports a single-step direct redemption. There is no unbonding period or queuing — redeem atomically burns the specified AUTO shares and transfers the proportional wYLDS from the stake vault to the user.”
“3. The Redemption Lifecycle: AUTO → wYLDS → USDC Phase 1: Redeem AUTO for wYLDS (vault-stake-auto) Phase 2: wYLDS → USDC (Operator-Mediated, vault-mint)”
Yield accrues automatically through an appreciating Chainlink-sourced exchange rate, without a manual claim. Holders can withdraw anytime by unstaking, with no lock-up.
“AUTO represents a share-based position in the AUTO pool. Unlike the ETH flow, on Solana yield does not require a manual claim — it accrues through an appreciating Chainlink-sourced exchange rate.”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora. Diversified, real-world backed, built for DeFi.”
“Unlike the ETH flow, on Solana yield does not require a manual claim — it accrues through an appreciating Chainlink-sourced exchange rate.”
“Exit anytime: No lock-up period. Withdraw anytime by unstaking.”
“AUTO yield is generated through Demo Prime's Auto lending operations, providing exposure to real estate-backed lending.”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora. Diversified, real-world backed, built for DeFi.”
“The auto loans in the pool are originated by Agora Data , an established auto finance company that acquires and originates consumer auto loans in the near-prime segment.”
Pool-wide metrics
Yield source
Unutilized liquidity continues earning wYLDS interest. Hastra retains 50 basis points from distributed yield.
“This is real yield from real borrowers making real car payments, not token emissions or liquidity mining rewards.”
“The rate is set by the same continuous utilization function that powers PRIME, based on how much of the pool is being borrowed; no one at Figure or Hastra sets it manually .”
“including both the Democratized Prime pool rate (a market rate based on supply and demand within the protocol) and wYLDS interest on unutilized pool liquidity”
“Yield from Democratized Prime flows through to Hastra and is distributed to AUTO token holders (minus the applicable Hastra Platform fee of 50bps) on Solana, with Ethereum mainnet and additional chains to follow.”
Structure & quality
“The auto loans in the pool are originated by Agora Data , an established auto finance company that acquires and originates consumer auto loans in the near-prime segment.”
Collateralization
“The auto structuring includes ~2.4x cashflow over-collateralization, with an expected starting interest rate of ~8.6%.”
“That is roughly 2.4 times as much cash flow as needed to pay the yield.”
3 holdings · sorted by weight
“the Figure Forge smart contract is used to transform these loans into standardized loan participation tokens. Auto loans vary widely in borrower credit, loan size, and terms - Forge pools similar loans together and issues fungible tokens that represent pro rata claims on the underlying cash flows.”
“The auto loans in the pool are originated by Agora Data , an established auto finance company that acquires and originates consumer auto loans in the near-prime segment.”
“The participation tokens enter Figure's Democratized Prime marketplace on Provenance, where lenders (AUTO holders) provide warehouse funding.”
“Figure's $25M commitment”
“builds to 2.5 percent”
$10,068.89
+$68.89+0.63%
1 mo
Since inception
AUTO
+0.63%
+0.69%
Agora Data originates.
Figure structures the pool and supplies credit-enhancement and capital-markets infrastructure.
Chainlink Data Streams supplies AUTO/wYLDS pricing.
Circle CCTP supports USDC bridging.
Sherlock audited Hastra's Ethereum and Solana implementations.
Backers
Official channels
“The protocol is designed with regulatory compliance in mind: vaults include account freeze/thaw controls, whitelisted withdrawals, and two-step redemption flows.”
“wYLDS token is backed by reserves of YLDS - the first SEC-registered, yield-bearing stablecoin backed by real world assets.”
“wYLDS is the base-layer wrapped token on Solana, acting as a custodial wrapper for YLDS, the underlying SEC-registered stablecoin.”
“is a face-amount certificate company registered with the U.S. Securities and Exchange Commission”
“AUTO represents exposure to direct loan participation claims on cash flows from the underlying auto loan pool, structured through a bankruptcy-remote trust.”
“Acquiring, staking, earning wYLDS on, and disposing of digital assets may have tax consequences in your jurisdiction. You are solely responsible for determining and satisfying your tax obligations. We do not provide tax advice.”
“Signum Ltd., a company organized under the laws of the British Virgin Islands...a wholly owned subsidiary of Provenance Cayman Foundation.”
“The auto loans sit in a Delaware statutory trust pledged under a Master Repurchase Agreement (MRA) between the originator and the bankruptcy remote-trust.”
“remit the proceeds back”
“The Site and Protocol are provided on an 'AS IS' and 'AS AVAILABLE' basis WITHOUT WARRANTIES … liability is capped at '$100.'”
“FCC is not a bank … nor are they insured by the Federal Deposit Insurance Corporation (FDIC) … If there are losses on FCC's assets, FCC may not have sufficient resources to meet its obligations.”
“If the Applicant were to default on any obligation under a Certificate, the Custodian would be authorized to cure such default by liquidating so much of the assets held by it as necessary to discharge Applicant's obligations.”
“2 Chainlink NAV integration April 9–12, 2026”
“In September 2025, Figure engaged Informal Systems to conduct a comprehensive security audit of the Hastra vault-mint and vault-stake Solana programs.”
Subject to change. Any update is shown in the buy form before you confirm a transaction.
“// Operator-only: transfers USDC from the redeem vault to the user's wallet.”
“Users can redeem their wYLDS tokens back to USDC through an admin-mediated two-step process.”
“The vault-stake-auto program supports a single-step direct redemption. There is no unbonding period or queuing — redeem atomically burns the specified AUTO shares and transfers the proportional wYLDS from the stake vault to the user.”
“The amount of wYLDS returned is calculated using the live Chainlink price at the time of the call: wYLDS_returned = auto_amount * price / price_scale . The call will fail if the stored Chainlink price is stale (past price_max_staleness ) or uninitialised.”
“AUTO is now live exclusively on Kamino.”
“Hastra AUTO ... pairCreatedAt: 1782946165000”
“fully transferable”
“At approximately 2.4 times cashflow overcollateralization, the pool can absorb roughly 55 percent delinquency before your yield is impaired. Expected losses are approximately 10 percent.”
Concentration
AUTO concentrates exposure in Agora-originated near-prime auto loans, Democratized Prime, Provenance bridging, Chainlink pricing, and Solana infrastructure
“The auto loans in the pool are originated by Agora Data , an established auto finance company that acquires and originates consumer auto loans in the near-prime segment.”
“When you stake wYLDS into the Hastra AUTO protocol, AUTO is minted, and simultaneously a programmatic instruction allows capital to be lent to a pool of consumer auto loans through Democratized Prime.”
“Yield is generated off-chain on the Provenance side and bridged back to Solana as YLDS/wYLDS.”
“The on-chain AUTO/wYLDS exchange rate is maintained by Chainlink Data Streams and updated periodically by rewards administrators via verify_price .”
“Live on Solana. Coming soon to Ethereum”
Issuer failure
FCC certificates are unsecured obligations backed solely by FCC assets
“The Certificates are unsecured and backed solely by the assets of FCC.”
Regulatory
Vault administrators can freeze accounts and restrict withdrawals; regulatory enforcement could therefore block transfers or exits
“The protocol is designed with regulatory compliance in mind: vaults include account freeze/thaw controls, whitelisted withdrawals, and two-step redemption flows.”
Credit / counterparty
AUTO concentrates origination and recourse exposure in Agora, whose repurchase and servicing obligations may fail during financial distress
“The auto loans in the pool are originated by Agora Data , an established auto finance company that acquires and originates consumer auto loans in the near-prime segment.”
“Originator buyback. Agora must repurchase any loan that breaches its representations or eligibility criteria, at full principal plus accrued interest.”
“Full recourse and guarantee. The pool retains full recourse to Agora, and Agora’s parent company provides a limited guarantee covering bad acts, servicing, and purchase obligations.”
Custodian
WYLDS depends on program-controlled USDC custody and off-chain Provenance yield bridging, creating operational and bridge-provider exposure
“Unlike a simple swap, this "Deposit" moves USDC into a program-controlled vault token account (PDA-owned), and the program mints wYLDS to the user.”
“Yield is generated off-chain on the Provenance side and bridged back to Solana as YLDS/wYLDS.”
“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.”
Hack / smart contract
Sherlock found no Critical or High issues, but Figure accepted residual reward-distribution risks affecting allocations among stakers
“No Critical or High-severity findings were identified across either engagement. All Medium-severity findings were either resolved by the team or formally acknowledged with a documented rationale for accepting the residual risk. All Low/Informational findings were resolved.”
“Both findings were formally acknowledged by Figure as accepted residual risk under the current operational model.”
“The accepted vectors are economic rather than safety-critical: they affect the distribution of rewards among stakers under specific conditions, but do not threaten user principal or protocol solvency.”
Depeg / liquidity
Stale Chainlink pricing can halt direct redemption, while decentralized-exchange liquidity can separate AUTO's market price from redeemable NAV
“The amount of wYLDS returned is calculated using the live Chainlink price at the time of the call: wYLDS_returned = auto_amount * price / price_scale . The call will fail if the stored Chainlink price is stale (past price_max_staleness ) or uninitialised.”
“Trade AUTO on DEXs or use in leverage strategies. No lock-up periods, full flexibility.”
Exit risk
AUTO exits lack queues, but USDC settlement requires operator completion and Circle CCTP liquidity after holders burn wYLDS
“The vault-stake-auto program supports a single-step direct redemption. There is no unbonding period or queuing — redeem atomically burns the specified AUTO shares and transfers the proportional wYLDS from the stake vault to the user.”
“To convert wYLDS back to USDC, the vault-mint program uses an admin-mediated two-step request_redeem / complete_redeem flow.”
“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.”
FCC can enforce underlying YLDS transfer restrictions. Disclosures do not identify signers, thresholds, or timelocks.
“// Operator-only: transfers USDC from the redeem vault to the user's wallet.”
“The protocol is designed with regulatory compliance in mind: vaults include account freeze/thaw controls, whitelisted withdrawals, and two-step redemption flows.”
“The digital asset standard used on the Provenance Blockchain enables FCC to enforce transfer restrictions in connection with the Certificates.”
“We reserve the right to modify these Terms, in whole or in part, at any time and at our sole discretion … suspend or terminate your access … at any time and without notice.”
“Any claim may be subject to fees, including network gas fees and a Protocol fee, which will be disclosed at the time of claim.”
“The Chainlink Data Streams NAV integration , including the feed verifier and NAV engine on the Ethereum side and the corresponding price-verification path on the Solana side.”
“The **Chainlink Data Streams NAV integration**, including the feed verifier and NAV engine on the Ethereum side and the corresponding price-verification path on the Solana side.”
“The amount of wYLDS returned is calculated using the live Chainlink price at the time of the call: wYLDS_returned = auto_amount * price / price_scale . The call will fail if the stored Chainlink price is stale (past price_max_staleness ) or uninitialised.”
Networks
Bridge custody
“Unlike a simple swap, this "Deposit" moves USDC into a program-controlled vault token account (PDA-owned), and the program mints wYLDS to the user.”
“It acts as a 1:1 receipt for the USDC deposited into the vault token account.”
The corpus omits multisig thresholds, signer identities, key custody, signer distribution, and timelocks.
“Secured by: Real asset backing • Multi-sig security”
“Both programs include account freeze/thaw functionality for their respective tokens and maintain administrator lists for governance.”
“The Hastra programs demonstrate solid engineering practices with well-structured code, comprehensive use of Anchor's constraint system, proper PDA derivation patterns, and robust role-based access control.”
Hastra identifies vault-stake-auto program 5uJgCDrQHfA58fPqLsuU14Srg9quxXNHz91cZ54cq4pK. The corpus does not identify AUTO's token mint.
“Solana Native”
“SPL”
“The Hastra Solana protocol consists of two interconnected Anchor programs:”
“vault-mint ( 9WUyNREiPDMgwMh5Gt81Fd3JpiCKxpjZ5Dpq9Bo1RhMV )”
“vault-stake-auto ( 5uJgCDrQHfA58fPqLsuU14Srg9quxXNHz91cZ54cq4pK )”
“which consists of a pool of consumer auto loans originated by Agora Data and structured by Figure via Figure Forge”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora.”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora. Diversified, real-world backed, built for DeFi.”
Unutilized pool liquidity also earns wYLDS interest.
“You earn exposure to the yield from the interest those borrowers pay on their loans in the form of rewards.”
“This is real yield from real borrowers making real car payments, not token emissions or liquidity mining rewards.”
“The auto loans in the pool are originated by Agora Data , an established auto finance company that acquires and originates consumer auto loans in the near-prime segment.”
“When you stake wYLDS into the Hastra AUTO protocol, AUTO is minted, and simultaneously a programmatic instruction allows capital to be lent to a pool of consumer auto loans through Democratized Prime.”
“Yield from Democratized Prime flows through to Hastra and is distributed to AUTO token holders (minus the applicable Hastra Platform fee of 50bps) on Solana, with Ethereum mainnet and additional chains to follow.”
“net of the 50 bps Hastra fee”
“It reflects the actual yield distributed to holders, including both the Democratized Prime pool rate (a market rate based on supply and demand within the protocol) and wYLDS interest on unutilized pool liquidity”
“AUTO yield is generated through Demo Prime's Auto lending operations, providing exposure to real estate-backed lending.”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora. Diversified, real-world backed, built for DeFi.”
“The first third-party originated asset on Hastra. Auto loans flow through Figure's capital markets infrastructure and into Hastra's DeFi credit layer, expanding yield sources beyond home equity.”
“The on-chain AUTO/wYLDS exchange rate is maintained by Chainlink Data Streams and updated periodically by rewards administrators via verify_price .”
“Sherlock performed independent security reviews of the Hastra protocol on behalf of Figure Technologies across two engagements in March and April 2026.”
“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.”
Holders can redeem AUTO for wYLDS without queuing. Converting wYLDS to USDC requires an operator-mediated redemption process.
“accepts USDC and issues wYLDS at a 1:1 ratio. Shared across all Hastra Solana pools.”
“accepts wYLDS and issues AUTO shares based on a Chainlink-sourced exchange rate.”
“Unlike the ETH flow, on Solana yield does not require a manual claim — it accrues through an appreciating Chainlink-sourced exchange rate.”
“The vault-stake-auto program supports a single-step direct redemption. There is no unbonding period or queuing — redeem atomically burns the specified AUTO shares and transfers the proportional wYLDS from the stake vault to the user.”
“To convert wYLDS back to USDC, the vault-mint program uses an admin-mediated two-step request_redeem / complete_redeem flow.”
“This guide was last updated for the Hastra Protocol interface as of 6/2/2026.”
“## Appendix A — Engagement 1: Core Vault Implementation (March 4–13, 2026)”
“## Appendix B — Engagement 2: Chainlink NAV Integration (April 9–12, 2026)”
“This document is a redacted version of the full technical reports prepared for Figure Technologies.”
“Agree on the Terms and Conditions and then select the wallet you want to use.”
“A Solana wallet (such as Phantom, Solflare, or Backpack) Sufficient USDC on the Solana network to cover your purchase A small amount of SOL for transaction fees”
“This guide was last updated for the Hastra Protocol interface as of 6/2/2026.”
“U.S. and Global Retail”
“The auto loans in the pool are originated by Agora Data , an established auto finance company that acquires and originates consumer auto loans in the near-prime segment.”
“Platform and smart contract risk. AUTO uses the same Democratized Prime platform and smart contract infrastructure as PRIME, which has been in production since November 2025. Both AUTO and PRIME have been audited.”
“There is no guarantee that a liquid secondary market will exist for PRIME or AUTO. You may be unable to sell or exchange PRIME or AUTO at your desired price or at all. Unstaking wYLDS from PRIME or AUTO may be subject to delays, lock-up periods, or other restrictions.”
“The call will fail if the stored Chainlink price is stale (past price_max_staleness ) or uninitialised.”
“There is no guarantee that a liquid secondary market will exist for PRIME or AUTO. You may be unable to sell or exchange PRIME or AUTO at your desired price or at all. Unstaking wYLDS from PRIME or AUTO may be subject to delays, lock-up periods, or other restrictions.”
“3. The Redemption Lifecycle: AUTO → wYLDS → USDC Phase 1: Redeem AUTO for wYLDS (vault-stake-auto) Phase 2: wYLDS → USDC (Operator-Mediated, vault-mint)”
“The call will fail if the stored Chainlink price is stale (past price_max_staleness ) or uninitialised.”
“Regulatory risk. Consumer auto lending is subject to federal and state regulation. Changes in regulations affecting tokenized RWAs, auto finance, or cross-chain operations could impact the product.”
“Medium severity findings included insufficient space allocation for Config accounts (failing to account for Borsh serialization Vec length prefixes), missing parameter validation for the unbonding period in vault-stake (allowing accidental misconfiguration), missing validation that vault and mint tokens are distinct during initialization, and missing program update authority validation in the initialize instruction (creating a race condition where any account could front-run deployment).”
“The dominant risk surface across both engagements was divergence between the Ethereum and Solana implementations of equivalent protocol primitives. In several cases, a primitive was implemented correctly on one chain and incorrectly on the other — including in the oracle-staleness anchoring logic and in the unbonding flow.”
“The staking vault's reward distribution mechanism produces a discrete, single-block change in share price on both chains — surfacing as a sandwich/MEV vector on the Ethereum side and as a virtual-shares dilution effect on the Solana side.”
“Several findings involved operator-privileged configuration paths that defer fail-safety to off-chain operational discipline rather than enforcing it on-chain.”
“3. The Redemption Lifecycle: AUTO → wYLDS → USDC Phase 1: Redeem AUTO for wYLDS (vault-stake-auto) Phase 2: wYLDS → USDC (Operator-Mediated, vault-mint)”
“Bankruptcy remoteness. The auto loans sit in a Delaware statutory trust pledged under a Master Repurchase Agreement (MRA) between the originator and the bankruptcy remote-trust. This structure is designed to isolate the loan assets from the credit risk of any single party, including Figure.”
“If the originator defaults under the MRA, the loans are sold in a true sale to the trust, which has an independent trust administator and liquidiaton, whose only non-discretionary powers are to sell the assets and remit the proceeds back to the Democratized Prime lenders in a default scenario.”
“Credit risk. The underlying loans are near-prime and subprime consumer auto credit. The structural protections described above are designed to absorb those losses, but they do not eliminate credit risk entirely.”
“Vehicle depreciation. Unlike real estate, cars lose value over time. In a default scenario, recovery depends on the vehicle's residual value. The advance rate cap (87 percent), insurance requirements, first-priority lien position, and the 60/90-day buyout mechanism are designed to limit this exposure.”
“Current loans are advanced at 87 cents on the dollar. At 61–90 days delinquent, that drops automatically to 43.5 cents. At 91+ days, it goes to zero — effectively removing the loan from the borrowing base.”
“Yield variability. The target yield of approximately ~9%* is not fixed. It is determined continuously by the utilization function and will move based on the balance of lender supply and borrower demand.”
“The rate is set by the same continuous utilization function that powers PRIME, based on how much of the pool is being borrowed; no one at Figure or Hastra sets it manually .”
“Credit risk. The underlying loans are near-prime and subprime consumer auto credit. The structural protections described above are designed to absorb those losses, but they do not eliminate credit risk entirely.”
“There is no guarantee that a liquid secondary market will exist for PRIME or AUTO. You may be unable to sell or exchange PRIME or AUTO at your desired price or at all. Unstaking wYLDS from PRIME or AUTO may be subject to delays, lock-up periods, or other restrictions.”
“The on-chain unbonding_period field is permanently set to 0 and the unbond instruction no longer exists.”
“There is no guarantee that a liquid secondary market will exist for PRIME or AUTO. You may be unable to sell or exchange PRIME or AUTO at your desired price or at all. Unstaking wYLDS from PRIME or AUTO may be subject to delays, lock-up periods, or other restrictions.”
“3. The Redemption Lifecycle: AUTO → wYLDS → USDC Phase 1: Redeem AUTO for wYLDS (vault-stake-auto) Phase 2: wYLDS → USDC (Operator-Mediated, vault-mint)”
“Burns wYLDS from the user and creates a RedemptionRequest PDA.”
“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.”
“The vault-stake-auto program supports a single-step direct redemption. There is no unbonding period or queuing — redeem atomically burns the specified AUTO shares and transfers the proportional wYLDS from the stake vault to the user.”
“The on-chain unbonding_period field is permanently set to 0 and the unbond instruction no longer exists.”
“Both programs include account freeze/thaw functionality for their respective tokens and maintain administrator lists for governance.”
“// Operator-only: transfers USDC from the redeem vault to the user's wallet.”
“To convert wYLDS back to USDC, the vault-mint program uses an admin-mediated two-step request_redeem / complete_redeem flow.”
“Unlike a simple swap, this "Deposit" moves USDC into a program-controlled vault token account (PDA-owned), and the program mints wYLDS to the user.”
“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.”
“// Operator-only: transfers USDC from the redeem vault to the user's wallet.”
“Sherlock performed independent security reviews of the Hastra protocol on behalf of Figure Technologies across two engagements in March and April 2026.”
“1 Core vault implementation (EVM + SVM) March 4–13, 2026”
“2 Chainlink NAV integration April 9–12, 2026”
“Across two collaborative engagements in March and April 2026, Sherlock audited the Hastra protocol — Figure Technologies' institutional-grade tokenized vault system (USDC → wYLDS yield vault → PRIME staking vault) — covering both its Ethereum (Solidity) and Solana (Anchor/Rust) implementations.”
“Cayman Islands”
“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 Fou ndation.”
“In September 2025, Figure engaged Informal Systems to conduct a comprehensive security audit of the Hastra vault-mint and vault-stake Solana programs.”
“Across two collaborative engagements in March and April 2026, Sherlock audited the Hastra protocol — Figure Technologies' institutional-grade tokenized vault system (USDC → wYLDS yield vault → PRIME staking vault) — covering both its Ethereum (Solidity) and Solana (Anchor/Rust) implementations.”
“Signum Ltd. Copyright© 2026”
“Signum Ltd. Copyright© 2026”
“Signum Ltd. Copyright© 2026”
“Signum Ltd. Copyright© 2026”
“Issuer Hastra”
AUTO added third-party-originated auto credit after Hastra’s home-equity-backed PRIME product.
“Hastra is a DeFi protocol built by <u>Figure Technologies</u>, a fintech company focused on blockchain-based financial products and is operated by the <u>Provenance Blockchain Fou</u> <u>ndation</u>.”
“The Hastra protocol provides institutional-grade tokenized vaults for yield generation and staking.”
“The first third-party originated asset on Hastra.”
“The first third-party originated asset on Hastra. Auto loans flow through Figure's capital markets infrastructure and into Hastra's DeFi credit layer, expanding yield sources beyond home equity.”
“Live on Solana and Ethereum Liquid Staking to earn against Figure HELOCs”
Disclosures provide no maturity, credit-quality, or concentration breakdown.
“which consists of a pool of consumer auto loans originated by Agora Data and structured by Figure via Figure Forge”
“Hastra does not endorse, guarantee, or provide any assurances about any third-party originator of the loans underlying AUTO, any guarantor, servicer, or trust involved in those pools, Figure, or the legal, tax, or regulatory implications of holding AUTO.”
“which consists of a pool of consumer auto loans originated by Agora Data and structured by Figure via Figure Forge”
“Earn yield backed by consumer auto loans originated through Figure's marketplace by Agora.”
“AUTO represents a share-based position in the AUTO pool.”
“The vault-stake-auto program supports a single-step direct redemption. There is no unbonding period or queuing — redeem atomically burns the specified AUTO shares and transfers the proportional wYLDS from the stake vault to the user.”
“Hastra does not endorse, guarantee, or provide any assurances about any third-party originator of the loans underlying AUTO, any guarantor, servicer, or trust involved in those pools, Figure, or the legal, tax, or regulatory implications of holding AUTO.”
“Asset-Backed Credit”
“which consists of a pool of consumer auto loans originated by Agora Data and structured by Figure via Figure Forge”
“which derives its yield from real borrower”
“Both programs include account freeze/thaw functionality for their respective tokens and maintain administrator lists for governance.”
“The Hastra programs demonstrate solid engineering practices with well-structured code, comprehensive use of Anchor's constraint system, proper PDA derivation patterns, and robust role-based access control.”
“The Chainlink Data Streams NAV integration , including the feed verifier and NAV engine on the Ethereum side and the corresponding price-verification path on the Solana side.”
“accepts wYLDS and issues AUTO shares based on a Chainlink-sourced exchange rate.”
“The amount of wYLDS returned is calculated using the live Chainlink price at the time of the call: wYLDS_returned = auto_amount * price / price_scale . The call will fail if the stored Chainlink price is stale (past price_max_staleness ) or uninitialised.”
“The Hastra Solana protocol consists of two interconnected Anchor programs:”
“accepts USDC and issues wYLDS at a 1:1 ratio. Shared across all Hastra Solana pools.”
“Unlike a simple swap, this "Deposit" moves USDC into a program-controlled vault token account (PDA-owned), and the program mints wYLDS to the user.”
“Yield from Democratized Prime flows through to Hastra and is distributed to AUTO token holders (minus the applicable Hastra Platform fee of 50bps) on Solana, with Ethereum mainnet and additional chains to follow.”
“Settlement Continuous (utilization-based) Continuous (utilization-based)”
“Hastra is currently deployed on Solana mainnet and Ethereum testnet, with mainnet Ethereum deployment pending audit and security review.”
“Live on Solana. Coming soon to Ethereum”
“Live on Solana. Coming soon to Ethereum”
“The digital asset standard used on the Provenance Blockchain enables FCC to enforce transfer restrictions in connection with the Certificates.”
“The protocol is designed with regulatory compliance in mind: vaults include account freeze/thaw controls, whitelisted withdrawals, and two-step redemption flows.”
A reserve account absorbs realized losses before token holders. Figure seed capital provides first-loss protection. Agora owes repurchase obligations for ineligible loans. Recoveries ultimately depend on vehicle values and available credit protections.
“If the originator defaults under the MRA, the loans are sold in a true sale to the trust, which has an independent trust administator and liquidiaton, whose only non-discretionary powers are to sell the assets and remit the proceeds back to the Democratized Prime lenders in a default scenario.”
“Reserve account. A sinking fund that builds to 2.5 percent of outstanding principal over time. It absorbs realized credit losses before any loss reaches token holders.”
“Figure’s $25M commitment. Figure commits seed capital to the auto loan trust as first-loss protection. Figure’s money is at risk alongside yours.”
“Originator buyback. Agora must repurchase any loan that breaches its representations or eligibility criteria, at full principal plus accrued interest.”
“Vehicle depreciation. Unlike real estate, cars lose value over time. In a default scenario, recovery depends on the vehicle's residual value. The advance rate cap (87 percent), insurance requirements, first-priority lien position, and the 60/90-day buyout mechanism are designed to limit this exposure.”
“Michael S. Cagney Chief Executive Officer Figure Certificate Company”
“Agora has an existing $100M warehouse facility with Capital One and a track record of public securitizations.”
“Unlike a simple swap, this "Deposit" moves USDC into a program-controlled vault token account (PDA-owned), and the program mints wYLDS to the user.”
“missing program update authority validation in the initialize instruction (creating a race condition where any account could front-run deployment)”
“The Terms of Use for Hastra's DeFi application are governed by Signum Ltd.”
“Returning to USDC is a multi-step process across both programs.”
“Yes, AUTO is fully transferable as an SPL token on Solana.”
“Designated administrators can freeze/thaw specific token accounts...Maximum 5 freeze administrators.”
“acquiring, staking, earning wYLDS on, and disposing of digital assets may have tax consequences in your jurisdiction”
“This structure is designed to isolate the loan assets from the credit risk of any single party, including Figure.”
“The Certificates are unsecured and backed solely by the assets of FCC.”
“must not be a resident, citizen, or person located in the United States of America or any U.S. territory.”
“face-amount certificate company registered with the U.S. Securities and Exchange Commission ('SEC') under the Investment Company Act of 1940”
“The Terms of Use for Hastra's DeFi application are governed by Signum Ltd., a company organized under the laws of the British Virgin Islands ('Hastra')...”
“In September 2025, Figure engaged Informal Systems to conduct a comprehensive security audit of the Hastra vault-mint and vault-stake Solana programs.”
“Figure Certificate Co - Form S-1/A - FY2025”
“Figure Certificate Co”
“Disclosures regarding a Software License Agreement entered into with Signum Ltd. (dba Hastra), granting Hastra a license to use proprietary software to support their protocol.”
“ANNUAL REPORT”
“These Terms of Use govern access to and use of the decentralized finance (DeFi) application and related services provided by Signum Ltd., a company organized under the laws of the British Virgin Islands ('Hastra').”
“USDC and wYLDS convert at a 1:1 ratio.”
“No fees or caps are explicitly specified in the document”
“Loans tokenized on Figure Connect using DART registry; Figure Forge smart contract creates standardized fungible participation tokens”
“We have audited the accompanying consolidated balance sheets”
“Each wYLDS maintains a '1:1' backing with YLDS held in Hastra's reserve”
“Reserve composition available on demand.”
Issuer entity 6a26afc5-a511-480c-ac79-011328bae75f · last updated 2026-08-09T20:34:20.217Z
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ingest · ingest · ok
plan · plan · ok
synthesize · synthesize · ok
36 of 44 fields verified · 0 unverified · 0 not found
Run 2026-08-09T21:07:24.937Z · done · cost $0.00
Automated research, human-reviewed. Verify against source documents before credit decisions.