OMARMOONIS.COM · YIELD TOOL
Compare DeFi protocol yields against US Treasury bills, savings accounts, money market funds, and TradFi benchmarks — risk-adjusted. 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 — similar range, 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 — you end up with less ETH than if you had held outright.
APR is the simple annualised 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 (~3–4% APY). 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. Yields match T-bill rates. 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 — treasurers, risk managers, allocators. Every instrument is shown with yield range, risk tier, liquidity rating, and regulatory protection status.
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