PROSPER has introduced MemeRWA, a new onchain framework that links verifiable economic performance data with independently priced crypto-native assets, without tokenizing ownership of the underlying asset. The launch goes live through PROSPER’s Performance Markets infrastructure, built on Pharos Network.
Under the system, a third-party Curator creates an onchain strategy through a Vault. This produces two separate instruments: Vault Shares, which offer direct exposure to the strategy, and p{VAULT}, a fixed-supply crypto-native asset associated with that Vault and its Curator.
PROSPER stressed that p{VAULT} does not represent a share in the Vault, does not track the Vault’s net asset value, and does not provide a claim on its assets, performance, or profits. Instead, its price is formed independently, initially through a public bonding curve and later through external market liquidity. The Vault’s performance 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.”
The framework includes an automated buyback and burn mechanism. Once a Vault strategy exceeds its high-water mark, a specified portion of eligible performance fees is used to purchase the corresponding p{VAULT} on third-party decentralized exchanges and permanently burn the acquired tokens. PROSPER said the buyback is executed through smart-contract logic and is not intended as price support, stabilization, or market-making.
Each p{VAULT} launches with a fixed supply of 1 billion tokens, with no presale, team allocation, or insider allocation. Vault holdings, net asset value, fee accrual, bonding curve reserves, and buyback transactions are designed to be observable onchain.
The launch establishes the first implementation of MemeRWA, positioning PROSPER as infrastructure through which verifiable economic performance can become an onchain reference without creating ownership rights over the underlying strategy.
