Saturn SUSDAT Adds $3.7M as Weekly APY Cools to 28.37%
7,152 pools | Median APY 1.30% | Avg 3.6%
$26.7B
LOW-RISK TVL
3.4%
LOW-RISK AVG APY
3.6%
MED-RISK AVG APY
TVL BY RISK TIER
Low: $26.7B (124 pools, 3.4%)Med: $30.6B (2564 pools, 3.6%)High: $1.4B (2675 pools, 6.8%)
WEEK OVER WEEK
Total TVL
$177.0B-$201.3M
prev: $177.2B
Median APY
1.30%+0.04pp
prev: 1.26%
Pool Count
7,152+0
prev: 7,152
Low-Risk APY
2.78%-0.01pp
prev: 2.79%
5 THINGS TO KNOW
Saturn SUSDAT attracts capital while APY compresses
APY moved from 31.29083% to 28.37385%; TVL rose from $72.43M to $76.16M.
USYC firms while Sky SUSDS continues to drift
USYC reached 3.15377% and $2.91B on its largest row; Sky SUSDS fell to 3.52% and $4.70B.
Medium-risk premium widens to 21.48 basis points
Low risk averages 3.37368% across $26.73B; medium risk averages 3.588447% across $30.60B.
Aave V3 Ethereum USDC falls 8.61% from its prior rate
APY fell from 11.52502% to 10.5327% on $32.93M TVL; risk score is 48.
Accountable Monad USDC shows a liquid medium-risk premium
17.78659% APY, $92.66M TVL, risk score 44, one recorded audit.
CHAIN BREAKDOWN
These figures use positive-yield pools capped at 50% APY and exclude unmapped chains. The screen removes the $101.1B zero-yield Bex anomaly from Berachain and prevents extreme Morpho and LP rows from distorting chain averages.
POOLS
AVG APY
TVL
Ethereum
2143
3.7%
$36.4B
Base
574
1.7%
$7.0B
Arbitrum
334
5.5%
$2.7B
Solana
751
3.0%
$2.1B
Aptos
65
3.2%
$1.1B
Avalanche
127
4.3%
$1.1B
STABLECOIN YIELDS (AVG APY)
Avg APY can be skewed by outliers. TVL on right.
TOP RISK-ADJUSTED PICKS
124 pools | $26.7B TVL | 3.4% avg APY
Maple USDC
Ethereum | The combination of $2.55B TVL and a 1.45-point premium over the low-risk average makes this the large liquid reference, with private-credit exposure still material.
4.8%
Morpho V1 GTUSDCP
Base | A low risk score, $425.97M TVL, and a meaningful premium over Base's screened average support the risk-adjusted case.
4.5%
Usd Ai SUSDAI
Arbitrum | The pool offers the strongest yield in the selected low-risk set, balanced by newer collateral structure and only one recorded audit.
7.7%
Maple USDT
Ethereum | This is a large low-risk USDT reference with substantial exit liquidity. It pays less than Maple USDC and retains Maple credit exposure plus USDT issuer risk.
4.4%
THIS WEEK IN STABLECOINS
The Pendle Print
Pendle adds Morpho USDC and Saturn USDat marketsPendle highlighted a new Morpho cbBTC/USDC market and a Saturn USDat market on Monad. The Saturn market was scheduled to receive 470,000 MON in YT incentives over two weeks beginning July 23.
New fixed-yield markets and incentives can pull capital toward structured stablecoin products, but maturity, liquidity, and incentive-decay risks remain material.
HM Treasury
UK and US set shared principles for stablecoin reservesThe UK and US said regulated stablecoin reserves should be segregated from issuer funds, protected for holders, and supported by clear redemption rights. The statement also calls for pathways that enable qualifying stablecoins issued in one jurisdiction to access the other market.
Reserve segregation and cross-border recognition can improve the institutional case for payment stablecoins, while also raising the compliance bar for issuers and yield venues.
Circle
Relay uses Circle Gateway to reduce idle cross-chain USDCCircle said Relay is using Gateway to settle large cross-chain USDC orders from a unified balance instead of pre-positioning liquidity on every destination chain. Relay has processed more than $40B in cross-chain volume since its 2024 launch.
More capital-efficient payment routing can reduce idle USDC balances and change where on-chain liquidity sits, which matters for utilization-sensitive lending yields.
OUTLOOK
Stablecoin yields are diverging by product structure rather than moving as one market. Large liquid references remain clustered around 3% to 5%: Maple USDC is 4.82249%, Sky SUSDS is 3.52%, and USYC is 3.15377%. Above that range, utilization-sensitive lending and structured products are producing double-digit rates, but the premium is paired with thinner liquidity, maturity exposure, or fewer recorded audits. Over the next one to two weeks, the most useful signal will be whether Saturn retains its $76.16M TVL as its rate compresses and whether Accountable's $92.66M Monad USDC row holds a double-digit yield. The key analytical distinction is durable utilization versus launch incentives; broad averages remain screened until the stale Bex TVL and extreme APY rows are corrected.
MEDIUMSaturn SUSDAT retention after rate compression
MEDIUMUSYC rate and TVL recovery
MEDIUMMonad incentive durability
HIGHSky SUSDS drift after the 8 bp cut
HIGHMaple's premium over conservative wrappers