{"slug":"yield-bearing-stablecoins","question":"Which stablecoins actually pay me a yield, and where does that yield come from?","answer":"9 yield-bearing stablecoins in our data state a yield.","shortAnswer":"9 yield-bearing stablecoins in our data state a yield. The highest right now is sUSDai from usd.ai at ~6.24% (variable). The range runs from 0.71% (scrvUSD) to 6.24%. 8 of them can be bought on a DEX without KYC. Yields are variable and not guaranteed.","asOf":"2026-10-18","faq":[{"q":"Which of them can I buy without KYC?","a":"8 of 9 can be bought on a DEX without identity verification: sUSDai, USD0++, sUSDe, sUSDf, sfrxUSD, sUSDS, sDAI, scrvUSD. For the rest, the source does not state the secondary-market gate."},{"q":"Where does the yield come from?","a":"sUSDai: Loans collateralized by GPU/AI hardware. USD0++: US T-bills + protocol token emissions. sUSDe: Delta-neutral futures basis trade + staking. sUSDf: Diversified market-neutral strategies. YLDS: Prime money-market style assets (SOFR-linked). sfrxUSD: Carry trade + AMOs + T-bill rate (partly BUIDL-backed). sUSDS: Over-collateralized crypto loans + RWA/T-bills. sDAI: DAI Savings Rate (protocol revenue). scrvUSD: crvUSD borrow interest revenue."},{"q":"Are these yields fixed?","a":"9 of 9 are variable: the rate moves with markets and is not guaranteed. The figures on this page were last checked between 2026-07-23 and 2026-10-18."}],"count":9,"rows":[{"ticker":"sUSDai","name":"usd.ai (staked)","issuer":"usd.ai","category":"Yield Stablecoins","yield":"~6.24% (variable)","yieldPct":6.24,"yieldKind":"variable","minimumUsd":0,"size":"~$330M","chains":"Arbitrum","country":"Decentralized protocol","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://usd.ai","lastVerified":"2026-10-18","tier":"curated","page":"https://tokenbank.world/token/sUSDai","json":"https://tokenbank.world/api/tokens/sUSDai"},{"ticker":"USD0++","name":"Usual USD0++","issuer":"Usual","category":"Yield Stablecoins","yield":"~4.78% (T-bill base + USUAL rewards)","yieldPct":4.78,"yieldKind":"variable","minimumUsd":0,"size":"Top-10 yield stablecoin","chains":"Ethereum","country":"Decentralized protocol (France-founded)","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://usual.money","lastVerified":"2026-10-18","tier":"curated","page":"https://tokenbank.world/token/USD0%2B%2B","json":"https://tokenbank.world/api/tokens/USD0%2B%2B"},{"ticker":"sUSDe","name":"Ethena Staked USDe","issuer":"Ethena Labs","category":"Yield Stablecoins","yield":"~4.71% (variable)","yieldPct":4.71,"yieldKind":"variable","minimumUsd":0,"size":"—","chains":"Ethereum (+L2)","country":"—","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://aavescan.com/rates/ethena-susde","lastVerified":"2026-10-18","tier":"curated","page":"https://tokenbank.world/token/sUSDe","json":"https://tokenbank.world/api/tokens/sUSDe"},{"ticker":"sUSDf","name":"Falcon USDf (staked)","issuer":"Falcon Finance","category":"Yield Stablecoins","yield":"~4.58% (variable)","yieldPct":4.58,"yieldKind":"variable","minimumUsd":0,"size":"~$1.2B USDf supply","chains":"Ethereum","country":"Decentralized protocol","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://falcon.finance","lastVerified":"2026-10-18","tier":"curated","page":"https://tokenbank.world/token/sUSDf","json":"https://tokenbank.world/api/tokens/sUSDf"},{"ticker":"YLDS","name":"Figure YLDS","issuer":"Figure Markets","category":"Yield Stablecoins","yield":"~4% (SOFR-linked)","yieldPct":4,"yieldKind":"variable","minimumUsd":0,"size":"~$575M","chains":"Provenance / Ethereum","country":"USA (SEC-registered security)","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://www.figuremarkets.com/ylds","lastVerified":"2026-07-23","tier":"curated","page":"https://tokenbank.world/token/YLDS","json":"https://tokenbank.world/api/tokens/YLDS"},{"ticker":"sfrxUSD","name":"Staked Frax USD","issuer":"Frax Finance","category":"Yield Stablecoins","yield":"~4.9% (~4-5%)","yieldPct":4,"yieldKind":"variable","minimumUsd":0,"size":"$30M","chains":"Ethereum / Fraxtal","country":"Decentralized","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://frax.com/frxUSD","lastVerified":"2026-10-18","tier":"curated","page":"https://tokenbank.world/token/sfrxUSD","json":"https://tokenbank.world/api/tokens/sfrxUSD"},{"ticker":"sUSDS","name":"Sky Savings Token","issuer":"Sky (MakerDAO)","category":"Yield Stablecoins","yield":"~3.8%","yieldPct":3.8,"yieldKind":"variable","minimumUsd":0,"size":"—","chains":"Ethereum (+Solana, Base)","country":"—","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://sky.money/susds","lastVerified":"2026-10-18","tier":"curated","page":"https://tokenbank.world/token/sUSDS","json":"https://tokenbank.world/api/tokens/sUSDS"},{"ticker":"sDAI","name":"Savings DAI","issuer":"Sky (MakerDAO)","category":"Yield Stablecoins","yield":"~1.25%","yieldPct":1.25,"yieldKind":"variable","minimumUsd":0,"size":"—","chains":"Ethereum (+Gnosis, L2)","country":"Decentralized","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://docs.spark.fi/user-guides/earning-savings/sdai","lastVerified":"2026-10-18","tier":"curated","page":"https://tokenbank.world/token/sDAI","json":"https://tokenbank.world/api/tokens/sDAI"},{"ticker":"scrvUSD","name":"Curve Savings crvUSD","issuer":"Curve Finance","category":"Yield Stablecoins","yield":"~0.71% (variable)","yieldPct":0.71,"yieldKind":"variable","minimumUsd":0,"size":"—","chains":"Ethereum","country":"Decentralized protocol","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://curve.finance","lastVerified":"2026-10-18","tier":"curated","page":"https://tokenbank.world/token/scrvUSD","json":"https://tokenbank.world/api/tokens/scrvUSD"}],"programs":[],"underlyings":[],"sources":[],"_links":{"page":"https://tokenbank.world/answers/yield-bearing-stablecoins","index":"https://tokenbank.world/api/v1/answers"},"_citation":"TokenBank, “Which stablecoins actually pay me a yield, and where does that yield come from?”, https://tokenbank.world/answers/yield-bearing-stablecoins (data as of 2026-10-18), CC BY 4.0.","_license":"CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/","_disclaimer":"Computed from sourced data; yields are variable and not guaranteed. Not investment advice. Verify each row’s source before relying on it."}