RedStone acts as the NAV pricing layer for KPK’s USDC Prime RWA vault, deployed on Euler, allowing real-world assets to operate as collateral in onchain lending markets.
The vault is backed by tokenized U.S. Treasury bonds and AAA-rated CLOs issued through Securitize, and RedStone delivers daily NAV feeds for VBILL and STAC, the vault’s two collateral markets, via an Oracle Router governed by the KPK Curator Safe.
VBILL and STAC do not derive their value from secondary trading, but from underlying reserves and the NAV published by the issuer. Treating them as spot assets creates risk rather than managing it. A temporary discount in the secondary market is not a balance sheet event, and liquidating positions in that scenario generates unnecessary friction. RedStone’s feeds are articulated through the Trusted Single Source Oracle framework developed together with Securitize, which enables issuer-authorized valuations to be delivered in a verifiable onchain manner.
The first borrower was Yuzu Money, which uses VBILL as collateral to access USDC liquidity. The vault targets an APY of 2.5% to 5% for lenders, with an immediate withdrawal buffer of 15%. KPK’s exit agent responds automatically to changes in oracle prices, as well as to issuer pause events, integrating the pricing layer directly into the risk management architecture.
Source: https://blog.redstone.finance/2026/06/08/the-pricing-layer-for-real-world-collateral/
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