PROSPER has launched MemeRWA, a new framework designed to connect verifiable economic performance data with independently priced crypto-native assets without tokenizing ownership of the underlying asset.
The framework is going live through PROSPER’s Performance Markets infrastructure, built on Pharos Network.
The approach differs from conventional real-world asset tokenization, where blockchain-based tokens can represent ownership or economic rights connected to an underlying asset. Under MemeRWA, the underlying economic activity instead acts as an observable reference.
A third-party Curator creates an onchain strategy through a Vault, producing two separate instruments. Vault Shares provide direct exposure to the strategy, while p{VAULT} is a fixed-supply crypto-native asset associated with that Vault and its Curator.
p{VAULT} does not represent a share in the Vault, track the Vault’s NAV, or provide a claim on its assets, performance, or profits. Its price is formed independently, initially through a public bonding curve and later through external liquidity.
The associated Vault’s performance, meanwhile, remains observable onchain.
“Crypto markets have demonstrated the power of open participation and collective conviction, while onchain finance has made economic performance increasingly transparent,” said Laura Shi, chief business officer at Pharos. “MemeRWA brings those ideas together: verifiable performance data provides the signal, while p{VAULT} remains independently priced through participant activity.”
PROSPER is also making a range of information around the system observable onchain, including Vault holdings, NAV, fee accrual, bonding curve reserves, and buyback transactions.
Each p{VAULT} begins with a fixed supply of 1 billion tokens, with no presale, team allocation, or insider allocation.
The launch establishes the first implementation of MemeRWA, with PROSPER positioning the framework as infrastructure through which verifiable economic performance can become an onchain reference without creating ownership rights over the underlying strategy.
