PT-apxUSD Pendle PT Looping: Up to 15% APY

apxUSD is Apyx's yield-bearing stablecoin with active risk management, backed by preferred shares in digital credit (STRC, SATA). Active portfolio allocation across these dividend-yielding instruments targets consistent, risk-adjusted returns.

How the strategy works

This is a max-APY yield loop: PT-apxUSD is supplied as collateral and USDC is borrowed against it on Morpho, then recycled back into PT-apxUSD to multiply the underlying Preferred Dividends yield. Because the two assets are price-correlated, the position targets amplified yield rather than directional price exposure.

Strategy details

Collateral asset
PT apxUSD 5NOV2026 (PT-apxUSD)
Borrowed asset
USDC
Issuer
Apyx
Yield source
Preferred Dividends
Underlying
USD
Category
stable-PT
Network
Ethereum
Protocol
Morpho

Live metrics

Collateral APY
9.28%
Net borrow APY
8.26%
Max leverage
7.0x
Default leverage
6.7x → 15.09% APY
Leverage ladder
1x 9.28% · 2x 10.30% · 3x 11.32% · 4x 12.34% · 5x 13.36% · 6x 14.38% · 7x(max) 15.40%
Oracle type
nav
Exit slippage
$100k 1.71% · $500k 47.67% · $1M 73.77% · $5M 95.38% · $10M 97.69%

as-of 2026-08-20T09:34:34.372Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1

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