Ever wondered how your crypto portfolio could tap into the stability of real estate without leaving the blockchain? Kamino just dropped a game-changer with PRIME, a tokenized asset bringing institutional-grade home equity loans (HELOCs) to the Solana ecosystem. Backed by heavy hitters like Figure and Hastra, PRIME promises up to 8% APY, all secured by real-world assets (RWAs). If you're into DeFi yield farming or exploring tokenized real estate, this is your ticket to blending TradFi reliability with Solana's speed.

In this breakdown—straight from Kamino's detailed thread—we'll unpack what PRIME is, how it earns that juicy yield, the risks involved, and exactly how to get your hands on it. Whether you're a seasoned blockchain practitioner or just dipping your toes into RWAs, stick around for simple explanations and actionable steps.

What Exactly Is PRIME? A Simple Breakdown

At its core, PRIME is like a digital deposit slip into a high-yield lending pool. Imagine homeowners borrowing against their property equity—those are HELOCs—and you, the lender, earning steady interest on it. But instead of paperwork and banks, everything's tokenized onchain.

Developed by Figure, the biggest non-bank HELOC originator in the US (they've unlocked over $19 billion in home equity and even trade on NASDAQ), PRIME uses their battle-tested credit infrastructure. Partnering with Hastra as the issuer and Provenance Foundation for the blockchain backbone, this setup brings real US residential loans to Solana DeFi.

Here's the flow:

• Borrowers get credit lines up to 90% of their home's value.
• These loans fuel a warehouse facility where your PRIME tokens earn yield.
• Once mature (about 42 days on average), loans get securitized and sold off, keeping things fresh and low-risk.

No more waiting for snail-paced real estate deals—PRIME makes it liquid and composable, right alongside your SOL or USDC.

How Does PRIME Generate That 8% APY?

Yield in DeFi can feel like chasing shadows, but PRIME grounds it in something tangible: real estate collateral. The magic starts with wYLDS, a wrapped version of YLDS—a regulated, SEC-registered stablecoin from Hastra that's backed 1:1 by RWAs on Provenance.

• Step 1: Mint wYLDS. Swap your USDC for wYLDS on Kamino Swap. It earns a baseline ~3.7% APY tied to SOFR (that’s the Secured Overnight Financing Rate, basically a benchmark for short-term lending).
• Step 2: Stake for PRIME. Head to Hastra and stake wYLDS to get PRIME tokens. This upgrades your yield to up to 8% through Figure's onchain HELOC engine.
• The Yield Mechanism: Both tokens are yield-bearing, meaning their value appreciates over time—no staking locks or complex claims needed. If you hold $100 of PRIME today, it could be worth ~$108 in a year, all reflected in the token price.

Deep liquidity on Kamino Swap ensures you can buy PRIME directly without slippage, making entry smooth for retail users.

PRIME's Risk Profile: Secure, But Not Bulletproof

RWAs sound dreamy, but let's talk real talk—nothing's risk-free in crypto. PRIME's setup is conservative, with key safeguards baked in:

• Collateral Strength: Loans cap at 90% Loan-to-Value (LTV), with lenders protected at 95% Liquidation Loan-to-Value (LLTV). If things dip, automatic liquidations via Figure Connect kick in.
• Full Recourse: Borrowers are on the hook beyond just the collateral, adding a legal backstop.
• Performance Stats: Average LTV sits at 68%, delinquencies under 1.75% over 180 days, and defaults historically below 0.1%. The short 42-day cycle means risks reset quickly—most loans are securitized before issues snowball.

That said, watch for interest rate swings (SOFR volatility) or broader real estate dips. Kamino's integration lets you monitor this in real-time, and their vaults help mitigate impermanent loss if you're providing liquidity.

How to Use PRIME on Kamino: Swap, Vault, Lend

Getting started is as easy as a Solana transaction. PRIME slots seamlessly into the Kamino ecosystem—think of it as your one-stop DeFi hub.

• Trading: Grab PRIME outright on Kamino Swap or via wYLDS staking on Hastra.
• Liquidity Provision: Jump into three vaults with over $15M TVL:
  • wYLDS–CASH
  • wYLDS–USDC
  • PRIME–CASH
    Earn fees while supporting the market.
• Borrowing: The new isolated PRIME market on Kamino Lend has $2M+ in CASH borrowable against your PRIME. Leverage up, with more incentives rolling out soon.

Pro tip: Start small to test the waters, and always DYOR—Kamino's dashboard at kamino.com/assets/prime has all the live metrics.

Why PRIME Matters for Solana's RWA Future

This isn't just another token—PRIME bridges the $19 trillion US mortgage market to Solana's high-speed rails. By tokenizing HELOCs, it democratizes access to stable yields that crypto natives crave, minus the volatility hangover. Kamino's positioning it as the go-to for RWAs, composable with everything from memecoins to blue-chips.

If you're building in blockchain or hunting yields, PRIME is a must-watch. It shows how DeFi can scale real-world value without losing that permissionless edge. Head over to Kamino now and stake your claim—literally.

Disclaimer: This isn't financial advice. Crypto and RWAs carry risks; review docs at Hastra and Figure before diving in. Past performance isn't a guarantee of future results.