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Pharos Network launches pRNH Vault with R25 protocol, providing qualified users with on chain investment channels for high-yield corporate bonds in the United States, with a target scale of $100 million. The Vault is integrated with NYLIM and Anemoy, and Centrifuge provides tokenization technology for NYLIM Anemoy's independent investment portfolio of high-yield corporate bonds in the United States. Users can indirectly hold HYB assets by depositing USDC in Pharos and exchanging it for pRNH tokens through R25. The target annualized return rate is about 7%, and there is no hard lock up period. The architecture is embedded with proxy auxiliary functions.