apyUSD
APYUSD #199 DANGER
This coin has triggered a critical safety failure. Do not buy, swap, or interact with this token.
apyUSD is a yield-bearing vault token issued by the Apyx protocol on Ethereum. It follows the ERC-4626 standard and wraps apxUSD, a USD-denominated stablecoin backed by preferred equity shares from Digital Asset Treasury companies and separately listed on CoinGecko. Users deposit apxUSD into the Apyx yield vault and receive apyUSD in return. The vault accumulates cash dividends paid by DAT preferred shares and distributes that income by increasing the apyUSD-to-apxUSD exchange rate over time. Holders earn yield passively without staking or manual claiming — the exchange rate appreciation mechanism works the same way as Maker's sDAI and Ethena's sUSDe. Both apxUSD and apyUSD are ERC-20 tokens on Ethereum. The protocol integrates with Pendle for yield tokenization and trading, and with Morpho for lending collateral. Custody for the underlying DAT preferred share collateral is provided by Anchorage Digital and BitGo.
Risk Report
Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.
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Certora’s security assessment of apxUSD describes a review that identified multiple issues (including one high-severity) that were fixed and confirmed.
- ✓Apyx documents apyUSD as an ERC-4626 vault-based savings token whose accounting accrues through an increasing exchange rate rather than rebasing.
- ✓A third-party security assessment exists on Certora for Apyx’s apxUSD/apyUSD system, including a stated high-severity issue that was fixed and confirmed.
- ✗Stablecoin has depegged from its target
- ✗Public information found so far focuses on functionality and at least one formal security assessment; tokenomics (allocations, supply mechanics beyond exchange-rate accrual) were not located in sources.
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