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Yield ranked against safety and real-world benchmarks — not just raw APY.
Building a yield shortlist? Start from the yield profile in Stablecoin Picker.
The Pharos Yield Score (PYS) is a risk-adjusted yield metric scored 0-100 that balances yield magnitude against safety, benchmark context, source risk, and consistency. It starts from 30-day average APY, adds 25% of the row's benchmark spread, divides that effective yield by source-risk and safety-derived penalties, then applies a sustainability multiplier based on APY volatility over the same period. Higher-safety stablecoins and cleaner yield sources incur lower adjusted penalties, so moderate but durable yield can compete with riskier double-digit offers.
Yields are resolved through deterministic on-chain reads, curated DeFiLlama sources, price-derived or rate-derived fallbacks, and curated lending opportunities. Rankings refresh hourly, 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.