Bitwise Launches PAPY RWA Lending Vault on Morpho

Bitwise Asset Management has launched the PAPY real-world asset lending vault on Morpho, a platform for curated institutional stablecoin strategies.

The vault accepts only Agora's AUSD stablecoin as deposit assets and lends against approved tokenized collateral, which includes PST, sUSDai, and PRIME.

Bitwise is targeting a variable annual percentage yield of 5%, 6%, but notes that this estimate can change with borrower demand and protocol utilization.