US housing credit is making its way onchain, and @NUVAFinance is taking an interesting approach. its HOME vault gives users exposure to a managed portfolio of US residential housing loans, starting with HELOCs originated by Figure and its partners. you can deposit as little as 1 USDC and receive nvHOME in return. the 7% target policy rate then accrues into the token’s value over time, so there’s no separate claim step. the structure also includes a first loss tranche targeting 5% of the vault cap, designed to absorb eligible portfolio losses before they reach nvHOME holders. withdrawals can be requested at any time and are typically processed within 3 US business days. the 7% rate resets monthly and isn’t guaranteed, so the credit and liquidity risks still matter. but still, bringing exposure to US housing credit onchain with a minimum deposit of just 1 USDC is an interesting development in the RWA space.