R2 Protocol is an on-chain fund aggregator designed to provide users with access to institutional-grade real yield sourced from tokenized real-world assets (RWAs). The protocol aims to make financial products from private credit and other traditional markets accessible globally without common entry barriers. ^{[1] [2]}

Overview

R2 Protocol operates as a decentralized finance (DeFi) platform that aggregates user deposits of the stablecoin USDC and allocates them to various institutional-grade, yield-bearing funds. The protocol primarily focuses on sourcing yields from tokenized private credit and other real-world assets managed by established asset management firms. It functions on multiple blockchains, having launched its mainnet vaults on Ethereum on September 26, 2025, followed by a launch on the BNB Chain on October 13, 2025. According to the project, its testnet phase attracted approximately 400,000 users before the mainnet deployment. ^[2]

The project was founded by Jeffrey, who serves as CEO, and Enzo, its Co-founder and CBO. A core objective of the protocol is to remove traditional barriers to entry for institutional-grade investments, such as Know Your Customer (KYC) requirements and high minimum deposit amounts, thereby making these products available to a broader audience. To ensure the security of user funds, the protocol's smart contracts have undergone audits by the blockchain security firms PeckShield and Supremacy. R2 Protocol is also a participant in the MVB10 accelerator program, an initiative supported by BNB Chain, Yzi Labs, and CoinMarketCap, which integrates the project into the broader BNB Chain ecosystem. ^{[1] [2]}

Technology and Architecture

The protocol's architecture is built on a fund aggregation model that operates on-chain. The process begins when users deposit USDC into the platform's smart contracts. R2 Protocol then pools these deposits and allocates the aggregated capital to various off-chain, tokenized RWA funds and pools. These underlying assets are managed by R2's institutional partners and include financial products such as private credit instruments from firms like Apollo Acred and Mercado Bitcoin, as well as products related to VanEck. ^{[1] [2]}

This structure positions R2 Protocol as a decentralized interface between DeFi users and traditional financial asset managers. It allows individuals to gain exposure to off-chain asset classes while remaining within the crypto ecosystem. The yield generated from these real-world assets is then channeled back through the protocol and distributed to the users who deposited funds. The architecture is designed for multichain functionality, with deployments on both Ethereum and BNB Chain to serve a wider user base. ^[2]

Products

R2 Protocol offers distinct yield-bearing products tailored to different risk appetites, both of which are backed by real-world assets and operate on a 90-day payout cycle. ^[1]

sR2USD

This product is presented as a lower-risk offering. Its yield is generated from underlying investments in U.S. Treasury Bills (T-bills). It provides users with a net Annual Percentage Yield (APY) of approximately 4% or more. ^[1]

sR2USD+

This product is designed for users seeking higher returns and is categorized as a medium-risk offering. The yield is sourced from private credit assets managed by the protocol's partners. It offers a net Annual Percentage Rate (APR) ranging from 10% to 12%. This product aligns with the protocol's general USDC savings vault, which is marketed as offering a net annual yield of 9% to 10% from private credit. ^{[1] [2]}

Features

R2 Protocol is designed with several key features to facilitate user access to RWA-backed yields. A primary feature is its ability to provide a gateway to institutional-grade yields, particularly from private credit markets, which are typically reserved for accredited or institutional investors. The platform promotes open access by removing KYC procedures and maintaining low investment minimums, allowing a broader range of users to participate. The yield is sourced from a diverse portfolio of assets managed by multiple global asset managers, which helps to diversify risk. The protocol also supports multichain functionality, operating on both Ethereum and BNB Chain. Security is another central feature, with its smart contracts having been audited by PeckShield and Supremacy to mitigate potential vulnerabilities. ^{[1] [2]}

Use Cases

The primary use cases for R2 Protocol include:

• Earning stable, real-world yield on USDC holdings, backed by assets outside of the volatile crypto markets.
• Accessing institutional private credit and U.S. T-bill markets without needing to meet traditional accreditation or high capital requirements.
• Diversifying digital asset portfolios by adding exposure to off-chain, RWA-backed financial products.

These applications allow users to leverage their stablecoins to interact with traditional financial markets through a DeFi interface. ^[1]

Ecosystem

The R2 Protocol ecosystem is constructed around its strategic partnerships, multichain presence, and community engagement. A foundational element is its collaboration with over a dozen accredited asset managers and RWA platforms, which are responsible for sourcing and structuring the yield-bearing products offered by the protocol. Its participation in the MVB10 accelerator program is another significant component, connecting the project directly to the BNB Chain ecosystem and providing support from key industry players like Yzi Labs and CoinMarketCap. This affiliation aims to foster growth, adoption, and integration within one of the largest blockchain networks. The protocol's presence on both Ethereum and BNB Chain further expands its ecosystem by making it accessible to users across different DeFi communities. ^{[1] [2]}

Tokenomics

The protocol has a native token, referred to as R2, which is integrated into its rewards system.

Allocation

• Specific details regarding the token's total supply, allocation percentages, and distribution schedule have not been made publicly available. ^{[1] [2]}

Utilities

• The native R2 token is distributed as a yield reward to users who provide Total Value Locked (TVL) to the protocol's vaults.
• The protocol incorporates a "bonding contract" mechanism, which allows users to sell their earned R2 tokens back to the protocol. This is designed to help ensure a baseline APY for liquidity providers. ^[2]

Governance

• Information regarding a formal governance model or the role of the R2 token in protocol decision-making was not available in the provided materials. ^{[1] [2]}

Confirmed Partnerships

R2 Protocol sources its yield by establishing partnerships and gaining accreditation with multiple asset managers and RWA platforms. Confirmed partners include:

• Apollo
• Archax
• Centrifuge
• DigiFT
• Fasanara
• Goldfinch
• Mercado Bitcoin
• Ondo Finance
• Securitize
• Superstate
• Tradable
• VanEck

Through its participation in the MVB10 program, the protocol is also formally associated with BNB Chain, Yzi Labs, and CoinMarketCap (CMC). ^{[1] [2]}