R25 Review 2026: Curated RWA Yield Vaults on Pharos and Sui

R25 describes itself as institutional-grade vault infrastructure for transparent, risk-adjusted on-chain yield. It brings real-world credit, treasuries, staking, and arbitrage into one access point, with each vault run by a professional asset manager.

DefiLlama categorises it as RWA and lists it on Pharos and Sui. It shows about $196.6M in TVL, a 0.1% dip over the past week, no token, and no listed audits. DefiLlama has tracked it since April 2026.

The product has two sides. Depositors choose vaults, and curators use R25 Studio to launch their own vaults and tap R25's distribution network. The homepage claims 100+ strategies and 2,000+ supported assets. Those figures come from the project's own marketing.

R25 provides the infrastructure for vaults. A vault is a smart contract that pools deposits and allocates them to a strategy. On R25, these strategies include real-world credit, treasuries, staking, and arbitrage, and each is run by a professional asset manager or curator.

Curators use R25 Studio to build and launch vaults without writing code. They can assemble strategies from 9 modules, backtest with AI, and connect to the underlying assets. The homepage says vault NAV is auto-routed and that compute and execution are separated, with a guard layer of 24 points and 12-point validation.

Users deposit into a vault and take on the return and risk of its strategy. Where a vault holds real-world credit, some of the exposure sits off-chain with issuers and managers, so outcomes depend on them as well as on the code.

R25's fees are not published publicly available. That covers management fees, performance fees, deposit or withdrawal charges, and per-vault curator fees.

Users should check the terms on each vault page in the app and the R25 docs before depositing. Network gas fees on Pharos or Sui will also apply.

DefiLlama lists no audits for R25. The homepage links an Audit page and says its AI Skills modules are audited, but the project does not name auditors, scope, or findings. Read those reports directly. The security layer claims (24 Guard Points, 12-point validation) are the project's own statements.

Risk comes from several places: smart contracts, vault curators, and any real-world credit or treasury exposure held off-chain. Withdrawal terms, custody, and regulatory status are not described publicly, so check them in the docs and terms. The protocol is new on DefiLlama, so it has little public track record. No incidents appear.

R25 is for yield-seeking DeFi users who accept curator and off-chain credit risk, and for asset managers or risk curators who want to launch vaults and reach a wider pool of capital. It is not suited to anyone who needs fully audited, fixed-fee, long-established products.