Pharos Network has launched the pRNH Vault, a blockchain-based investment channel for eligible users seeking exposure to U.S. high-yield corporate bonds. The Vault, introduced through the R25 protocol, connects to the NYLIM Anemoy U.S. High Yield Corporate Bond separate managed account, or HYB, jointly initiated by NYLIM and Anemoy with tokenization technology provided by Centrifuge. Users deposit USDC on Pharos and exchange it through R25 for pRNH tokens, gaining indirect exposure to HYB assets. The Vault has a target size of $100 million and a target annualized yield of about 7%. It has no mandatory lock-up period and incorporates agent-assisted functions covering areas including credit screening and liquidity monitoring.