Tokenized Equities are now LIVE on Pyra💜
NVDA, TSLA, GOOGL, APPL, SPY & QQQ
Build wealth faster, by investing into assets and spending credit.
Learn more about the new launch 👇🔥
Tokenized Equities are now LIVE on Pyra💜
NVDA, TSLA, GOOGL, APPL, SPY & QQQ
Build wealth faster, by investing into assets and spending credit.
Learn more about the new launch 👇🔥
1. Deposit funds (USDC or supported assets)
2. Assets are routed into our credit provider @kamino through our Self-custodial smart contract.
3. These assets grow and accrue yield 24/7.
4. When you pay with your Pyra card, a line of credit is pulled against your portfolio.
PYRA IS BACK.
We've rebuilt our whole infra with @Kamino as our credit layer
Deposit and spend USDC instantly while earning 3-8% APY
Our dream is to have every dollar you earn, build wealth 24/7
This is the first step to make that vision a reality
@xStocksFi coming soon...
Update on the Drift hack’s impact on Pyra:
Over the past two weeks, we’ve been engaging directly with the Drift team about their recovery plan and how it affects Pyra users. While public information from Drift has been limited, we expect their full plan to be released this week.
We are fully committed to doing everything within our control to improve the situation for Pyra users, regardless of Drift’s final recovery measures, and we’ll be able to share more specifics here soon.
Many of you have been asking when the Pyra app will be back online - our whole team has been working flat out for the past 2 weeks to relaunch Pyra with a new lending protocol.
USDC spending will be live in the next few days, with other assets and loans relaunching next week. Pyra’s mission and long-term vision remain the same: We will bring about financial freedom through asset-based banking. More info soon.
We understand the pain this Drift exploit has brought to our users. If you have any questions, please drop them into our Telegram group. We’re doing everything we can to help: https://t.co/0twElCpYTf
Drift has extended the estimated time for releasing their full recovery and remediation plan as they continue discussions with relevant parties, and we now expect to hear it by the end of the week.
We are still exploring possible options on our own end in the likely event that Drift is not able to make all users whole, but we’re waiting on more details from the Drift team before moving forward on anything.
The process of bringing Pyra back online with a new lending protocol is well underway, and we’re aiming to be live with USDC spending next week, with other assets and loans following shortly after.
Interim Update
We recognize the impact this has had across our users and the builders who have integrated with us - many of whom rely on Drift as core infrastructure.
We’re actively working on next steps and will share more once details are finalized.