{"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","pollingIntervalMinutes":15,"frequencyNote":"Measured from the recorded series, not a declared schedule. Rolling averages are time-weighted, so a change of polling interval does not change the statistic.","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":"63.6%","liveApyPct":"3.79%","liveTvlUsd":2384903859.705337,"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":"4.39%","liveTvlUsd":183016085.778296,"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":"5.4%","liveApyPct":"2.67%","liveTvlUsd":200721060.841149,"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":"10.2%","liveApyPct":"5.32%","liveTvlUsd":383295250.147508,"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":"6.43%","liveTvlUsd":9697416.877476,"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":"3.16%","liveTvlUsd":14683647.902029,"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":"2.8%","liveApyPct":"4.37%","liveTvlUsd":106154307.869011,"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":"3.5%","liveApyPct":"4.35%","liveTvlUsd":130725472.943446,"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":"4.5%","liveApyPct":"4.74%","liveTvlUsd":169736640.951465,"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":"5.0%","liveApyPct":"4.73%","liveTvlUsd":189083008.793367,"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":"5.76%","liveTvlUsd":46570697.449868,"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":"5.59%","liveTvlUsd":29178473.38435,"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":"5.77%","liveTvlUsd":14971601.756543,"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."}}