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Learn

Everything you need to understand stablecoin yield.

Clear, jargon-free guides for people deciding whether — and how — to earn on their USDC and USDT. No hype, no shortcuts; just how it actually works, written by operators who run the strategy book.

Featured guide

How to earn yield on stablecoins — from first deposit to first credit.

The 8-minute beginner's walkthrough. What estimated stablecoin yield actually is. How the strategy book works. The compliance steps. What to expect on day one, day thirty, and year one.

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In this guide
  1. 01What estimated stablecoin yield is — and what it isn't
  2. 02Where the yield actually comes from (the strategy book)
  3. 03KYC, allowlists, and the security review window
  4. 04Per-second accrual vs daily credit
  5. 05Withdrawal mechanics — same-day vs queued
  6. 06Tier uplift and what the loyalty programme does
  7. 07Risks you should weigh before depositing
  8. 08Tax statements + activity exports
8 min read·Beginner·Updated with the latest strategy book
Pick a path

Three ways to learn — choose the one that fits.

Same body of material, three different sequences. Pick the one closest to who you are; the other two are always one click away.

I'm new to crypto yield
Beginner path

Start at the basics. What a stablecoin is, why anyone holds them, where yield comes from, and how to think about risk before you put a dollar in.

  1. 1Stablecoin basics
  2. 2How to earn yield on stablecoins
  3. 3Is stablecoin yield safe?
I run a treasury
Operator path

For finance teams and DAO operators making allocation decisions. Strategy mechanics, comparison of yield sources, and the diligence questions worth asking.

  1. 1DeFi vs CeFi vs RWA yield
  2. 2USDC vs USDT
  3. 3Corporate treasury use case
I want the full picture
Diligence path

For investors doing real diligence before opening an account. Strategy book, risk model, custody, governance, and the limits of every claim made on the site.

  1. 1Strategy book
  2. 2Risk disclosure
  3. 3Custody architecture
All guides

Browse the full library.

Updated as the strategy book and risk model evolve.
Glossary

The vocabulary of stablecoin yield.

A small preview of the working glossary — the words we use consistently across the product, transparency and risk pages.

Open the full glossary
  • Accrual
    Continuous build-up of yield against a principal balance.
  • APY
    Annual percentage yield — the compounded annualised rate.
  • Attestation
    Third-party point-in-time report confirming a fact (e.g. reserves).
  • Basis trade
    Market-neutral position capturing spot/derivatives spread.
  • Depeg
    When a stablecoin trades materially away from its peg.
  • Impermanent loss
    Opportunity cost incurred by liquidity providers.
  • MM lending
    Over-collateralised loans to trading firms.
  • Multi-sig
    Wallet requiring multiple approvers for outflows.
  • Oracle
    On-chain feed supplying external data to smart contracts.
  • Reserves sleeve
    Short-duration cash equivalents — the liquidity floor.
  • RWA
    Real-world asset — tokenised off-chain instruments.
  • Tokenised treasury
    On-chain wrapper for short-duration US treasury bills.
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