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Under 24 hours open to the public, and Mezzanine is at $4.81M TVL. That’s from one vault. We’re aiming for 2 to 3 new vaults a month. Current rates: Senior ~18.3%, Junior ~38.4% (variable). A smooth launch, and a huge thank you to everyone who supported us on day one. Just the beginning. app.mezz.finance/vaults

RWA.xyz published a deep dive last week on the tokenized carry trade: hold a yield-bearing token, borrow stablecoins against it, buy more, and earn the spread. Their conclusion is that it’s become one of the biggest drivers of demand for tokenized assets. It’s also the trade the Hastra Optimizer is built on. They list what makes a tokenized asset good carry collateral. Here’s how @HastraFi’s PRIME and AUTO measure up on four of them. Yield spread: the gap between what the asset pays and what it costs to borrow against it. Over the last 30 days, AUTO paid around 9.4% against roughly 6.2% to borrow PYUSD on Kamino, a gap of over 3 points. That leaves room for borrow rates to rise before the carry disappears. Price quality: thin market prices can swing and trigger liquidations the underlying value doesn’t justify. On Morpho and Kamino, PRIME and AUTO are priced at NAV, not at a momentary DEX print. Redemption: PRIME and AUTO redeem to wYLDS at NAV, so exiting doesn’t depend on someone buying on a DEX. Scale: PRIME is over half a billion dollars, and as of August around 70% of it was working in DeFi. What the report doesn’t cover is the work. Running the carry trade yourself means picking the asset, the venue, what to borrow and how much leverage to use, then watching all of it every day. The Hastra Optimizer runs it in one deposit, then lets you choose how much of the risk you hold. Senior earns a little less than the overall strategy yield, with a loss buffer in front of it. Junior earns more for taking first-loss exposure. The tokenized carry trade, tranched. On your terms.