{"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":"62.4%","liveApyPct":"3.29%","liveTvlUsd":2126740126.529519,"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":"5.4%","liveApyPct":"3.07%","liveTvlUsd":183205483.778627,"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":"4.9%","liveApyPct":"2.72%","liveTvlUsd":166749275.113719,"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":"9.9%","liveApyPct":"3.48%","liveTvlUsd":336451405.31959,"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":"4.56%","liveTvlUsd":8385311.007256,"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":"2.70%","liveTvlUsd":15733721.992384,"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":"1.9%","liveApyPct":"3.70%","liveTvlUsd":65766043.417805,"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":"2.1%","liveApyPct":"3.69%","liveTvlUsd":72854181.754453,"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":"10.9%","liveApyPct":"4.27%","liveTvlUsd":370457341.437153,"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":"2.5%","liveApyPct":"4.26%","liveTvlUsd":86782634.402101,"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":"5.66%","liveTvlUsd":38983561.775681,"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":"6.83%","liveTvlUsd":19947513.200107,"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"],"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 6 hours of share-price history exists, with the measurement window widening to a full 7 days."}}