{"indexName":"Stablecoin Yield Index","ticker":"SYX","methodology":{"description":"A TVL-weighted benchmark for conservative USDC yield across the largest onchain lending markets on Ethereum, Base, and Arbitrum. Computed directly from canonical smart contracts (no third-party data aggregators); covers the Aave v3 and Compound v3 USDC supply markets and curated Morpho v2 Prime USDC strategies from Steakhouse Financial and Gauntlet.","chains":["Ethereum","Base","Arbitrum"],"weighting":{"scheme":"TVL-weighted (by live total value locked)","detail":"Each component’s weight equals its live USDC deposited as a share of combined TVL across all participating components. Weights are recomputed on every poll and always sum to 100%. There are no fixed or discretionary allocations."},"polling":{"frequency":"every 15 minutes","source":"direct onchain reads via Ethereum, Base, and Arbitrum RPC (no third-party data APIs)"},"exclusions":"SYX excludes structurally distinct, higher risk products, such as synthetic dollar exposure (e.g. Ethena) and private credit strategies, which carry materially different risk profiles.","components":[{"key":"aave_usdc_eth","name":"Aave v3 USDC","type":"aave_v3","protocolUrl":"https://app.aave.com/markets","tvlReadMethod":"aUSDC totalSupply (total USDC supplied)","apyMethod":"currentLiquidityRate → APY","liveWeightPct":"61.3%","liveApyPct":"3.31%","liveTvlUsd":2277644682.627603,"available":true},{"key":"aave_usdc_base","name":"Aave v3 USDC","type":"aave_v3","protocolUrl":"https://app.aave.com/markets","tvlReadMethod":"aUSDC totalSupply (total USDC supplied)","apyMethod":"currentLiquidityRate → APY","liveWeightPct":"4.9%","liveApyPct":"3.44%","liveTvlUsd":182053684.853767,"available":true},{"key":"aave_usdc_arb","name":"Aave v3 USDC","type":"aave_v3","protocolUrl":"https://app.aave.com/markets","tvlReadMethod":"aUSDC totalSupply (total USDC supplied)","apyMethod":"currentLiquidityRate → APY","liveWeightPct":"4.7%","liveApyPct":"2.41%","liveTvlUsd":175767813.665227,"available":true},{"key":"compound_usdc_eth","name":"Compound v3 USDC","type":"compound_v3","protocolUrl":"https://app.compound.finance/markets/v3-usdc-mainnet","tvlReadMethod":"Comet totalSupply (total USDC supplied)","apyMethod":"Comet supply rate at current utilization → APY","liveWeightPct":"9.7%","liveApyPct":"8.06%","liveTvlUsd":362249365.010179,"available":true},{"key":"compound_usdc_base","name":"Compound v3 USDC","type":"compound_v3","protocolUrl":"https://app.compound.finance/markets/v3-usdc-basemainnet","tvlReadMethod":"Comet totalSupply (total USDC supplied)","apyMethod":"Comet supply rate at current utilization → APY","liveWeightPct":null,"liveApyPct":"7.47%","liveTvlUsd":9198774.328066,"available":true},{"key":"compound_usdc_arb","name":"Compound v3 USDC","type":"compound_v3","protocolUrl":"https://app.compound.finance/markets/v3-usdc-arb","tvlReadMethod":"Comet totalSupply (total USDC supplied)","apyMethod":"Comet supply rate at current utilization → APY","liveWeightPct":null,"liveApyPct":"2.80%","liveTvlUsd":14956390.968722,"available":true},{"key":"steakhouse_usdc_eth","name":"Steakhouse Prime USDC","type":"morpho_metavault","protocolUrl":"https://app.morpho.org/ethereum/vault/0xbeef088055857739C12CD3765F20b7679Def0f51/steakhouse-usdc","tvlReadMethod":"vault totalAssets (USDC deposited)","apyMethod":"realized share-price growth over a graduating 6h–7d window","liveWeightPct":"2.7%","liveApyPct":"4.20%","liveTvlUsd":98866206.752666,"available":true},{"key":"gauntlet_usdc_eth","name":"Gauntlet USDC Prime","type":"morpho_metavault","protocolUrl":"https://app.morpho.org/ethereum/vault/0x8c106EEDAd96553e64287A5A6839c3Cc78afA3D0/gauntlet-usdc-prime","tvlReadMethod":"vault totalAssets (USDC deposited)","apyMethod":"realized share-price growth over a graduating 6h–7d window","liveWeightPct":"2.2%","liveApyPct":"4.22%","liveTvlUsd":82325469.673415,"available":true},{"key":"steakhouse_usdc_base","name":"Steakhouse Prime USDC","type":"morpho_metavault","protocolUrl":"https://app.morpho.org/base/vault/0xbeef0e0834849aCC03f0089F01f4F1Eeb06873C9/steakhouse-prime-usdc","tvlReadMethod":"vault totalAssets (USDC deposited)","apyMethod":"realized share-price growth over a graduating 6h–7d window","liveWeightPct":"12.1%","liveApyPct":"4.45%","liveTvlUsd":449216776.545111,"available":true},{"key":"gauntlet_usdc_base","name":"Gauntlet USDC Prime","type":"morpho_metavault","protocolUrl":"https://app.morpho.org/base/vault/0x050cE30b927Da55177A4914EC73480238BAD56f0/gauntlet-usdc-prime","tvlReadMethod":"vault totalAssets (USDC deposited)","apyMethod":"realized share-price growth over a graduating 6h–7d window","liveWeightPct":"2.4%","liveApyPct":"4.45%","liveTvlUsd":89438367.436441,"available":true},{"key":"steakhouse_hy_eth","name":"Steakhouse High Yield USDC","type":"morpho_metavault","protocolUrl":"https://app.morpho.org/ethereum/vault/0xbeeff2C5bF38f90e3482a8b19F12E5a6D2FCa757/steakhouse-high-yield-usdc","tvlReadMethod":"vault totalAssets (USDC deposited)","apyMethod":"realized share-price growth over a graduating 6h–7d window","liveWeightPct":null,"liveApyPct":"5.04%","liveTvlUsd":42037825.433684,"available":true},{"key":"steakhouse_hy_base","name":"Steakhouse High Yield USDC","type":"morpho_metavault","protocolUrl":"https://app.morpho.org/base/vault/0xbeeff7aE5E00Aae3Db302e4B0d8C883810a58100/steakhouse-high-yield-usdc","tvlReadMethod":"vault totalAssets (USDC deposited)","apyMethod":"realized share-price growth over a graduating 6h–7d window","liveWeightPct":null,"liveApyPct":"5.16%","liveTvlUsd":36771615.168336,"available":true},{"key":"gauntlet_frontier_eth","name":"Gauntlet USDC Frontier","type":"morpho_metavault","protocolUrl":"https://app.morpho.org/ethereum/vault/0x9a1D6bd5b8642C41F25e0958129B85f8E1176F3e/gauntlet-usdc-frontier","tvlReadMethod":"vault totalAssets (USDC deposited)","apyMethod":"realized share-price growth over a graduating 6h–7d window","liveWeightPct":null,"liveApyPct":"5.31%","liveTvlUsd":27326420.541775,"available":true}],"sanityChecks":["Components that fail to read are excluded; the TVL weights of remaining components are renormalized to 100%","New index value rejected if it differs from the previous value by more than 5x (likely RPC anomaly)","Last known good value preserved when sanity checks fail"],"historyNote":"SYX is read every 15 minutes. /api/index/history returns one point per UTC day, and that point is the MEAN of the day’s readings — the same statistic as SYX-7/30/90, which are time-means over every reading. Each point also carries the day’s low, high and reading count, so the intraday range behind the mean is visible; ?raw=1 returns every individual reading. A single reading is never published as the day: component rates are genuinely volatile intraday (Aave USDC on Ethereum, ~61% of index weight, has repeatedly spiked above 12% around UTC midnight and returned to ~3.4% by 03:00), so any one observation is a biased sample of the day rather than a summary of it.","morphoNote":"Morpho v2 Prime USDC vault APYs are measured from realized share-price growth. A vault contributes its TVL to weighting from the first poll; its APY becomes available once at least 1 hour of share-price history exists. The pipeline pairs the current share price with the oldest reading no more than 1 day old, so in steady state the measurement window is ~24 hours. The one-day ceiling is deliberate: it keeps the index responsive during rate transitions, which a longer window lags. Realized APY outside a 0-20% plausibility band is rejected and the vault is treated as unreadable for that poll."}}