apyUSD Yield: Earn up to 51% APY on apyUSD/USDC

apyUSD is Apyx's yield-bearing stablecoin backed by preferred shares in digital credit assets (STRC ~11% APY, SATA ~12.5% APY). Monthly dividend distributions pass through to holders as an appreciating exchange rate.

How the strategy works

This is a max-APY yield loop: apyUSD is supplied as collateral and USDC is borrowed against it on Morpho, then recycled back into apyUSD 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

apyUSD (apyUSD)

Borrowed asset

USDC

Issuer

Apyx

Yield source

Preferred Dividends

Underlying

USD

Category

stable

Network

Ethereum

Protocol

Morpho

Live metrics

Collateral APY

13.77%

Net borrow APY

7.13%

Max leverage

7.0x

Default leverage

6.7x → 51.62% APY

Leverage ladder

1x 13.77% · 2x 20.41% · 3x 27.05% · 4x 33.69% · 5x 40.33% · 6x 46.97% · 7x(max) 53.61%

Oracle type

nav

Exit slippage

$100k 1.39% · $500k 39.41% · $1M 72.83% · $5M 95.38% · $10M 99.94%

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

Apyx website · All strategies