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Stablecoin yield rankings that weigh every APY against safety and real-world benchmarks.
Two readings per row: Safety says how likely you are to lose money; PYS says how well the yield pays you for that chance. A high PYS on a D-grade coin is well-paid risk, not a safe pick. The page opens on the Opportunistic band (C- or above, safety 50+, warnings hidden); widen the Risk tolerance slider to see everything.
Building a yield shortlist? Start from the yield profile in Stablecoin Picker.
The Pharos Yield Score (PYS) answers one question: is this APY paying enough for the risk you take? It is yield per unit of risk on a 0-100 scale, not a recommendation and not a safety verdict. It starts from 30-day average APY, adds 25% of the row's benchmark spread, swaps the row's local benchmark hurdle for the USD risk-free rate so a high-rate peg's policy-rate compensation is not scored as yield, divides that effective yield by source-risk and safety-derived penalties, then applies a sustainability multiplier based on APY volatility over the same period. A D-grade stablecoin can post a high PYS because it pays a lot for a lot of risk; read PYS next to the Safety grade and the row's zone (Sweet Spot, Danger Zone, Play It Safe, Why Bother?) before acting on it.
Yields are resolved through deterministic on-chain reads, curated DeFiLlama sources, price-derived or rate-derived fallbacks, and curated lending opportunities. Rankings refresh after each Safety Score V9 publication window, with slower supplemental-source families merged in from a separate four-hour lane, and preserve source-specific history so trailing APY metrics stay tied to the active source.
Risk-adjusted yield accounts for the safety of the stablecoin issuing the yield, not just the raw APY. A stablecoin with a high safety grade (A or A+) receives a much lighter adjusted penalty in the PYS formula, so even a moderate APY can score well. Conversely, a risky stablecoin must offer meaningfully higher raw yield to achieve the same PYS, reflecting the extra risk borne by the holder. Risk-adjusted does not mean safe: a top PYS on a low-grade coin says the yield compensates the risk well, not that the risk is small.
Holder-yield rows describe yield attached to holding the stablecoin itself or a native yield-bearing wrapper. Lending opportunities describe external venues such as money markets, fixed-yield markets, or structured tranches where the underlying stablecoin is deposited into a separate venue. Both can appear in Yield Intelligence, but source posture, venue risk, depth, and warnings help separate durable holder yield from opportunity-specific risk.
The Safety grade evaluates the stablecoin. Source posture evaluates the yield observation behind the row: source confidence, venue review status, depth, freshness, reward-heavy composition, and source switches. A high-grade stablecoin can still have a watch or speculative yield source if the venue or observation needs scrutiny.
No. Depth is an explanatory lens for how much evidence backs the observed yield source, using venue size and related source-risk fields where available. It is not a fill-size estimate, execution quote, or guarantee that capital can enter or exit at the displayed APY.
None of these. PYS is a comparative score built from historical APY, benchmark context, source-risk penalties, stablecoin safety penalties, and yield stability. It ranks how well each row pays for its risk; it does not endorse a row, and the leaderboard sorted by PYS is not a list of recommended coins. Component explanations show why a row moved, but they are not guarantees and should not be read as independently additive promises of future return.