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.
This is a max-APY yield loop: apyUSD is supplied as collateral and apxUSD 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.
as-of 2026-08-20T09:34:34.372Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1