[Pharos and R25 Launch pRNH High-Yield Bond Vault with Target Annualized Return of 7%] Pharos announced a collaboration with RWA vault infrastructure protocol R25 to launch the pRNH Vault, providing users with on-chain exposure to the Raffaello NYLIM HYB Vault. The underlying assets of this product are high-yield corporate bonds, with a target annualized return of approximately 7%. There is no lock-up period, and deposits and withdrawals are supported 24/7. Pharos stated that the underlying asset management institution has a 175-year history and manages approximately $800 billion in assets. The mentioned 7% is a target return and not a guaranteed yield.