OMARMOONIS.COM · YIELD TOOL
Compare DeFi protocol yields against US Treasury bills, savings accounts, money market funds, and other TradFi benchmarks on a risk-adjusted basis. By Omar Moonis, Global Head of Self Custody Risk.
USDC lending · ETH staking · restaking · stablecoin LP · tokenized T-bills, side by side with T-bills, HYSA, and S&P 500.
Yield adjusted for the probability and severity of loss. A 20% DeFi APY with meaningful smart-contract risk may be less attractive than a 5% T-bill on a risk-adjusted basis.
Stablecoin lending typically yields 3–8% APY vs 4–5% for 1-year T-bills, a similar range with very different risk. T-bills carry no credit or smart-contract risk; stablecoin lending adds protocol, oracle, and depeg exposure.
The opportunity cost when the token ratio in your LP shifts vs holding. A pool showing 25% APY in fees may net negative if ETH doubles, because you end up with less ETH than if you had held outright.
APR is the simple annualized rate. APY compounds it continuously. DeFi protocols auto-compound via smart contracts. Always compare APY to APY when benchmarking against TradFi savings rates.
Depositing ETH into a protocol like Lido and receiving stETH, a liquid token accruing validator rewards (about 2.2% net APY in October 2026, per DeFiLlama). You can use stETH in DeFi while still earning staking yield.
On-chain products (Franklin Templeton BENJI, BlackRock BUIDL, Ondo OUSG) that hold actual US Treasuries and distribute yield on-chain. Net yields were about 3.5% to 3.8% in October 2026 (DeFiLlama), a little below T-bill rates after fees. Institutional products require KYC.
Yields from protocol fees and staking rewards are structurally sustainable at lower levels (2–8% for stablecoins). Double-digit yields typically depend on token emissions that compress as liquidity scales.
Finance professionals evaluating DeFi alongside traditional alternatives, such as treasurers, risk managers and allocators. Every instrument is shown with yield range, risk tier, liquidity rating, and regulatory protection status.
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