Sentora PYUSD Liquidity Thins as Aave USDC APY Climbs 31%

5,858 pools | Median APY 3.05% | Avg 3.8%

$33.8B

LOW-RISK TVL

3.9%

LOW-RISK AVG APY

3.5%

MED-RISK AVG APY

TVL BY RISK TIER

Low: $33.8B (156 pools, 3.9%)Med: $25.2B (2881 pools, 3.5%)High: $1.1B (2821 pools, 6.8%)

WEEK OVER WEEK

Total TVL

$195.9B+$276.2M

prev: $195.6B

Median APY

1.35%+0.11pp

prev: 1.24%

Pool Count

8,005+12

prev: 7,993

Low-Risk APY

2.85%-0.01pp

prev: 2.86%

5 THINGS TO KNOW

Aave V3 Ethereum USDC: APY up 30.93%

APY moved from 3.64681% to 4.77478% (+30.93032%); TVL $125,359,364; risk score 29.

Sentora PYUSD vault: APY falls 20.53%

APY moved from 6.55471% to 5.20888% (-20.53226%); TVL $396,609,725; risk score 26.

Aave GHO closes a 25-basis-point funding gap

Aave V3 SGHO: 4.5% APY, $171,384,207 TVL, risk score 26; CryptoSlate reported the 4.5% Core GHO rate on October 5.

Medium-risk screened yield trails low risk by 42.08 bps

Low risk: $33,780,816,035 TVL at 3.89293898%; medium risk: $25,169,565,157 at 3.47216642%; spread -42.07726 bps.

Fifteen new rows are mostly a coverage signal

15 rows were flagged as new; the largest include Circle USYC at $2,362,880,398 and Ethena SUSDE at $1,241,848,033.

CHAIN BREAKDOWN

This screened table removes zero-yield and above-50% rows, then omits unnamed chain IDs. Ethereum holds $36.529B at a 3.917081% weighted APY; Arbitrum and Solana lead the large alternatives at 5.756322% and 3.738832%, while Base carries $7.348B at 1.933583%.

POOLS

AVG APY

TVL

Ethereum

2352

3.9%

$36.5B

Base

599

1.9%

$7.3B

Arbitrum

347

5.8%

$2.9B

Solana

892

3.7%

$2.8B

Aptos

3.4%

$1.3B

Berachain

1.2%

$652.4M

STABLECOIN YIELDS (AVG APY)

USDC

3.0%

$19.3B

USDS

3.9%

$7.7B

USDT

2.8%

$5.2B

PYUSD

3.1%

$3.5B

BUIDL

3.6%

$3.1B

SUSD

5.2%

$2.5B

USYC

3.4%

$2.4B

USDY

3.6%

$2.2B

Avg APY can be skewed by outliers. TVL on right.

TOP RISK-ADJUSTED PICKS

156 pools | $33.8B TVL | 3.9% avg APY

Maple USDC

Ethereum | The combination of $2.923B TVL, 5.11614% APY and a low tracker score gives this the deepest low-risk profile in the set, subject to Maple's credit and withdrawal terms.

5.1%

R:20

Sky Lending SUSDS

Ethereum | Its 3.6% APY is lower than the headline leaders but sits on $4.783B of TVL, making depth and rate stability the main attributes.

3.6%

R:20

Aave V3 USDC

Ethereum | The 30.93032% weekly APY increase creates a notable low-risk rate without relying on an unnamed chain or a tiny TVL row.

4.8%

R:29

Ethena Usde SUSDE

Ethereum | The screened row combines 4.96061% APY with $1.242B of TVL and a score of 12. The tracker score is low, but synthetic-dollar basis, collateral and liquidity risks still matter more than the label alone.

5.0%

R:12 | $1.2B

THIS WEEK IN STABLECOINS

The Defiant

Sentora's Morpho Vaults See Sharp Outflows Amid MetaMask Staking Incident

The RLUSD and PYUSD Sentora vaults on Morpho saw sharp withdrawals after the MetaMask staking incident. The Defiant reported about $8.46M and $2.38M of available liquidity in the latest snapshots.

This is direct context for the week's Morpho PYUSD APY decline and shows why exit liquidity matters alongside a pool's risk score.

CryptoSlate

Aave Raises GHO Borrow Rate to 4.5% as Liquidity Pressure Persists

Aave's Ethereum Core GHO borrow rate moved to 4.5%, matching the sGHO savings rate reported by TokenLogic. The liquidity benefit depends on whether repayments bring USDC or USDT into the stability modules rather than simply reducing debt.

Aave's 4.5% SGHO row appears in the local pool data, making reserve inventory and utilization important follow-up signals.

Stripe

OUSD Becomes Stripe's Default Stablecoin Configuration

Stripe announced that Open USD is available across its stablecoin stack and is the default configuration on Tempo, with support across Base, Ethereum, Solana and Tempo. The launch includes distribution support from Stripe, Visa, Mastercard, Coinbase and more than 200 partners.

The distribution push is not yet a yield signal in this feed, but it raises the competitive and liquidity backdrop for stablecoins tracked in future weeks.

OUTLOOK

Stablecoin yield is splitting by venue rather than moving in one direction. The screened positive-yield set averages 3.77% across $60.03B, but low-risk pools earn 3.89% versus 3.47% for medium-risk pools, a 42-basis-point inversion; high-risk pools average 6.77% on only $1.08B. Aave's Ethereum USDC move to 4.77% and GHO's 4.50% rate show blue-chip lending can reprice upward when liquidity is tight, while Sentora's PYUSD drawdown shows exit conditions can overwhelm headline APY. Over the next one to two weeks, watch whether Aave's higher GHO borrow rate brings durable USDC and USDT inventory back to its stability modules, whether PYUSD vault liquidity rebuilds, and whether Pendle's 30-44% structured yields persist after incentives and maturity effects. The raw feed's 0.14% TVL rise is modest; the stronger signal is dispersion, not market-wide expansion.

MEDIUMSentora PYUSD liquidity after the MetaMask incident

MEDIUMAave GHO reserve depth

HIGHMedium-versus-low risk inversion

MEDIUMPendle maturity-market persistence