FIRST PLACE · AVALANCHE BUILD GAMES 2026
Plyra Protocol
The pre-deal analyst desk for structured credit. Describe a pool or paste a prospectus and get a suggested tranche structure, risk-adjusted returns, loss scenarios, and a validation diff against the engine. The onchain protocol (Forge, Shield, Nexus) settles validated structures when ready.
The problem
Structured credit is a $13 trillion market in tradfi. Banks bundle loans, slice them into senior/mezz/equity tranches, and sell them to pension funds and insurers. The whole stack runs on phone calls, paper contracts, and weeks of settlement. Six+ intermediaries per deal. Zero composability. No onchain venue exists for any of it.
The solution – three composable primitives
Forge Tranched credit vaults | Senior / Mezzanine / Equity with automated waterfall yield. What takes 6+ intermediaries and months in tradfi happens in one transaction. |
Shield The first onchain CDS market | Bilateral CDS contracts + AMM-priced pools. Oracle-triggered settlement with timelock and governance veto. |
Nexus Cross-chain margin | Multi-asset margin engine for Avalanche L1s via ICM/Teleporter. Tranche tokens, AVAX, and L1 assets as collateral. |
Traction
- First place, Avalanche Build Games 2026.
- $100K grant from the Avalanche Foundation as part of the Build Games win. Current work is testnet-only.
- Live on Avalanche Fuji – Forge tranched vaults, Shield CDS marketplace, Nexus cross-chain margin, all deployed and verifiable on Snowtrace. Live app at app.plyra.io.
- Contracts verified on Snowtrace, byte for byte. Security audit planned before any mainnet launch.
- Idaho LLC formed. Non-custodial, non-advisory protocol design.
What unlocks Phase 4 faster
- Credit-event oracle partner so Shield settles on real defaults – not just our internal detector.
- Launch-partner originator with at least one real credit workflow to validate a post-audit vault.
- Audit budget – Sherlock or Spearbit gets us through the next hardening pass faster.