3.75%
—
—
$35.5M
$1.7M
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Strategy overview
Hold USDY, a yield-bearing stablecoin issued by Ondo Finance. Its value or balance grows as the issuer's underlying assets generate returns.
- How it works:
- We swap your USDC into the issuer's yield-bearing dollar (e.g. sUSDe, USDY). The token's value or balance grows over time as the issuer's underlying strategy — staking, T-bills, or a delta-neutral hedge — earns yield. You exit by swapping back.
- What you hold:
- USDY in your wallet; its balance or redemption value grows as yield accrues.
- Who runs it:
- Ondo Finance — live since 2023 · audited by 6 firms · no known incidents
Position details
- APY Now
- 3.75%
- Issued (TVL)
- $35.5M
- DEX Liquidity
- $1.7M
- Max @ 0.3% Slip
- $984,390.00
- Token
- USDY
- Mint
- A1KLoBrKBde8Ty9qtNQUtq3C2ortoC3u7twggz7sEto6
- Current Price
- $1.1515
- Slippage @ $100k
- +0.00%
- Drift from $1
- +15.15%
Low–moderate risk · Grade B
25/100
- A smaller token is easier to destabilize — USDY: ~$35.5M market cap.
- Selling in a hurry could move the price — USDY: ~$1.7M DEX depth.
- USDY's price history isn't tracked yet, so we can't verify how well it holds its value.
Strategy
- Strategy type15
More complex strategy type.
- Leverage0
No leverage.
- Yield source10
Yield comes from US Treasury bills.
- Pool usage0
Not a utilization-driven product.
- Pool size0
Token hold — no pool.
- Lock-up & yield stability0
30d APR volatility 0.0pp.
What can go wrong
- Depeg risk: the token can trade below $1 if the issuer's backing or strategy comes under stress.
- Exit depends on DEX liquidity — thin liquidity means more slippage when swapping back to USDC.
- Yield and peg both depend on the issuer; many of these are off-chain RWA or synthetic-dollar issuers (see the protocol notes below).
The assets
What your deposit is held in, and how steady its value is.
- Backing model10
USDY: rwa-backed.
- Peg history · no data30
No peg history accrued yet (USDY).
- Issuer size70
USDY: ~$35.5M market cap.
- Exit liquidity41
USDY: ~$1.7M DEX depth.
- Token age21
USDY: live since 2023.
- Freeze authority35
USDY: issuer can freeze token accounts.
About USDY
Each asset in this position — what it is, how reliable it is, and any past depegs.
By Ondo Finance. Tokenized note backed by short-term US Treasuries and bank deposits; accrues Treasury yield. · Live since 2023
- ·Yield-bearing — price is designed to drift upward, so it has no fixed $1 peg.
- ·Price volatility: 0.16% (30d).
- ·Small market cap — thinner liquidity amplifies price moves.
Token notes & warnings
- Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
- Low activity — This token has low organic activity
- Mintable — The authority's owner has the ability to mint more tokens
Who runs it
Ondo FinanceXDocsDefiLlamaThe team and protocol behind this, and their track record.
Issues USDY, a token backed by short-term US Treasuries and bank deposits; its price accrues the underlying T-bill yield over time.
- Admin controls30
Regulated issuer with institutional custody (no on-chain admin-key path).
- Exploit history0
No known exploits.
- Track record6
Live for ~45 months.
- Price feeds · no data55
Oracle setup unknown.
- Scale0
$966.1M TVL — battle-tested at scale.
- Safety reserves · no data40
No disclosed treasury/insurance backstop.
- Bug bounty0
Live bug bounty up to $1.0M.
- Audits0
Audited (Spearbit, Halborn, Code4rena, Cyfrin, Nethermind, OpenZeppelin).
How we rate risk
Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.
Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.
Non-custodial · Akashi never holds your funds