Name: Stablecoin Yield Comparison Table
Creator: Inverse Finance
License: https://creativecommons.org/licenses/by/4.0/

Question 1

What are yield-bearing stablecoins?

Accepted Answer

Yield-bearing stablecoins are tokens pegged to a fiat currency (usually USD) that automatically accrue interest or rewards. When you hold them, their value grows over time relative to the underlying stablecoin. Examples include sUSDe (Ethena), sUSDS (Sky/Maker), sDOLA (Inverse Finance), scrvUSD (Curve), and sfrxUSD (Frax). Unlike traditional stablecoins that simply hold their peg, these tokens are backed by productive strategies, lending, staking, or protocol revenue, that generate yield passed on to holders.

Question 2

What are the highest stablecoin yields right now?

Accepted Answer

Stable Yields tracks real-time APYs across all major yield-bearing stablecoins in DeFi. The highest yields change frequently as market conditions shift. Visit our main yield comparison table at stableyields.info to see the current ranking sorted by APY, along with 30-day and 90-day values revealing which yields are consistently high versus temporarily spiking.

Question 3

How are these APYs calculated?

Accepted Answer

APYs are sourced directly onchain by looking at actual historical performances using the vaults echange rates evolution, in some cases another methodology might be used (non-standard ERC4626 vaults etc), visit the Methodology page for more details.

Question 4

What's the difference between sDOLA, sUSDS, and sUSDe?

Accepted Answer

These three yield-bearing stablecoins earn yield through fundamentally different mechanisms. sDOLA (Inverse Finance) is an ERC-4626 vault where yield comes from decentralized DOLA borrowing demand on FiRM, Inverse's fixed-rate lending protocol. sUSDS (Sky/Maker) earns yield from the Sky Savings Rate, funded by Maker protocol revenue from lending and RWA (Real World Asset) investments. sUSDe (Ethena) generates yield through a delta-neutral strategy combining staked ETH rewards with perpetual futures funding rates. Each has a different risk profile: sDOLA depends on FiRM borrowing demand, sUSDS on Maker protocol health, and sUSDe on futures funding rates remaining positive.

Question 5

Is Stable Yields free to use?

Accepted Answer

Yes, viewing and comparing yields on Stable Yields is completely free with no account required. If you choose to swap or deposit into a yield-bearing stablecoin through our interface, a 0.1% routing fee is applied via Enso Finance, our swap aggregation partner. You can always deposit directly through the issuing protocol's own interface to avoid this fee.

Question 6

What risks do yield-bearing stablecoins have?

Accepted Answer

Key risks include: smart contract risk (bugs or exploits in the protocol's code), depeg risk (the underlying stablecoin losing its peg to USD), yield variability (APYs can fluctuate significantly and past performance is not guaranteed), protocol-specific risks (governance attacks, oracle failures, or liquidity crunches), and regulatory risk. Each stablecoin has its own unique risk profile depending on its backing mechanism and collateral structure. Higher yields typically indicate higher risk, compare the 90-day average APY to understand consistency.

Question 7

How often is the yield data updated?

Accepted Answer

The yield comparison table is updated every 5 minutes (300 seconds) through server-side revalidation. Data is fetched from Ethereum on-chain smart contracts, DeFiLlama yield APIs, and CoinGecko price feeds. Historical chart data covers the most recent 90-day period and is updated with each page refresh. The US Treasury benchmark rate is also refreshed alongside the yield data.

Question 8

What does TVL mean in the yield table?

Accepted Answer

TVL stands for Total Value Locked. It represents the total USD value of assets deposited into a particular yield-bearing stablecoin's smart contract. A higher TVL generally indicates greater adoption and liquidity, which can mean lower withdrawal risk. However, higher TVL can also dilute yields since the same protocol revenue is shared among more depositors. TVL data is sourced from DeFiLlama and on-chain contract reads.

Question 9

Can I lose money with yield-bearing stablecoins?

Accepted Answer

While yield-bearing stablecoins aim to preserve principal and generate returns, losses are possible. Smart contract exploits, depegging of the underlying stablecoin, or protocol insolvency could result in partial or total loss. The yield shown is a projection based on recent performance, not a guarantee. Always research the specific protocol's security audits, insurance coverage, and collateral structure before depositing significant amounts.

Stablecoin	Project	APY ▼	30d Avg.	90d Avg.	TVL
yvUSD	Yearn	7.25%	5.90%	6.09%	$9.6M
sDOLA	Inverse	6.72%	6.05%	6.13%	$20M
fxSAVE	f(x) Protocol	6.03%	7.10%	6.51%	$61.7M
scrvUSD	Curve	5.32%	3.68%	2.55%	$17.3M
sfrxUSD	Frax	5.30%	5.12%	4.85%	$37M
sUSDe	Ethena	5.01%	5.04%	4.83%	$1.2B
sGHO	Aave	4.60%	4.65%	4.57%	$211.5M
yvUSDT-1	Yearn	4.33%	3.38%	3.37%	$5.4M
US Treasury Yield: 4.05% yvUSDS-1	Yearn	3.85%	4.67%	3.93%	$8.8M
sUSDS	Sky	3.80%	3.84%	3.67%	$3.7B
yBOLD	Yearn	3.52%	5.07%	5.88%	$8M
sBOLD	K3 Capital	3.08%	5.04%	6.03%	$3.6M
sreUSD	Resupply	1.62%	1.59%	1.34%	$27.1M

Pool	Project	Total APR ▼	TVL
USG/sDOLA	Stake DAO	14.46%	$226.1k
scrvUSD/sDOLA	Convex	8.51%	$114.5k
scrvUSD/sDOLA	Stake DAO	7.79%	$6.1M
scrvUSD/sDOLA	Curve	7.66%	$6.3M
reUSD/sfrxUSD	Yearn	7.27%	$262k
scrvUSD/sUSDe	Stake DAO	7.27%	$610.6k
reUSD/sfrxUSD	Convex	7.15%	$1.5M
scrvUSD/sUSDe	Convex	7.00%	$1.2M
reUSD/scrvUSD	Stake DAO	6.98%	$1.4M
USD3/scrvUSD	Stake DAO	6.78%	$256.1k
reUSD/sUSDe	Curve	6.76%	$2.2M
reUSD/scrvUSD	Yearn	6.72%	$1.5M
reUSD/scrvUSD	Convex	6.71%	$4.9M
reUSD/sfrxUSD	Stake DAO	6.43%	$706.2k
frxUSD/sDOLA	Stake DAO	6.19%	$826k
scrvUSD/sUSDe	Curve	6.09%	$1.9M
frxUSD/sUSDe	Stake DAO	6.06%	$109.3k
DOLA/sUSDe	Stake DAO	6.00%	$138.2k
reUSD/sDOLA	Convex	5.93%	$3.3M
reUSD/sDOLA	Yearn	5.79%	$2M
reUSD/sDOLA	Stake DAO	5.76%	$3.4M
crvUSD/sUSDe	Stake DAO	5.34%	$164.2k
DOLA/sUSDS	Yearn	5.13%	$866.7k
DOLA/sUSDe	Convex	5.04%	$41.8M
sDOLA/alUSD	Stake DAO	5.00%	$101.6k
DOLA/sUSDe	Yearn	4.79%	$11.5M
DOLA/sUSDS	Convex	4.45%	$5.6M
sfrxUSD/frxUSD	Convex	4.31%	$11.9M
reUSD/scrvUSD	Curve	4.28%	$7.3M
reUSD/sDOLA	Curve	4.17%	$5.5M
reUSD/sfrxUSD	Curve	4.04%	$2.5M
sfrxUSD/frxUSD	Curve	3.55%	$11.9M
frxUSD/sUSDS	Stake DAO	3.51%	$967.6k
DOLA/sUSDe	Curve	3.44%	$53.5M
frxUSD/sUSDS	Convex	3.29%	$1.2M
DOLA/sUSDS	Curve	3.00%	$6.5M
frxUSD/sUSDS	Curve	2.79%	$1.7M

Collateral	Project	Debt	Liquidity	Utilisation	Max Net APY ▼
sDOLA6.72% APY	Llamalend	crvUSD4.66% APY	$3.3M	77.01%	108.25%at 50.2x
sfrxUSD5.30% APY	Llamalend	crvUSD3.47% APY	$1.3M	75.54%	95.53%at 50.2x
sfrxUSD5.30% APY	Llamalend	crvUSD4.38% APY	$2.4M	85.04%	50.78%at 50.2x
sreUSD1.62% APY	Llamalend	crvUSD0.47% APY	$38.3M	38.06%	39.33%at 33.6x
yBOLD4.37% APY	FiRM	DOLA4.46% fixed APY	$732.7k	-	17.73%at 6.7x
yv-reUSD-sDOLA5.68% APY	FiRM	DOLA4.46% fixed APY	$1.1M	-	12.61%at 6.7x
sUSDe5.25% APY	FiRM	DOLA4.46% fixed APY	$198.3k	-	12.32%at 10.0x
sUSDe-DOLA5.04% APY	FiRM	DOLA4.46% fixed APY	$21.2M	-	11.67%at 12.5x
yv-sUSDS-DOLA5.16% APY	FiRM	DOLA4.46% fixed APY	$3.3M	-	11.42%at 10.0x
yv-sUSDe-DOLA4.77% APY	FiRM	DOLA4.46% fixed APY	$3M	-	8.30%at 12.5x

Stable Yields

Earn and compare the best stablecoin yields across major DeFi protocols

90d APY evolution for the current Top 5