{"id":274,"slug":"2026-09-23-tokenized-treasury-yields","day":"2026-09-23","project":"rwayield","title":"Tokenized RWA yields — 2026-09-23","headline":"Tokenized treasury and money-market products yield 3.25%–3.78% across $8.83B of tracked TVL.","bullets":["USTB — 3.78% APY, $542.2M (Invesco)","OUSG — 3.72% APY, $315.4M (Ondo Finance)","BUIDL — 3.63% APY, $3.07B (BlackRock / Securitize)","USDY — 3.59% APY, $2.19B (Ondo Finance)","USDY.sol — 3.59% APY, $180.4M (Ondo Finance)","USYC — 3.43% APY, $2.51B (Circle (formerly Hashnote))","Spread between highest and lowest: 0.53 percentage points.","Coverage: 7 of 13 tracked products meet issuer-level verification — a verified subset, not the full tokenized-treasury market.","Excluded (6): BENJI, USTB.superstate, USDM.mountain, syrupUSDC, bIB01, USDL — each lacks an issuer-level yield source; the specific reason for each is in the JSON.","Only issuer-level sources are used; ticker-matched look-alikes are excluded."],"sample_n":7,"payload":{"products":[{"symbol":"USTB","name":"Invesco USTB (tokenized short-term treasury)","issuer":"Invesco","yield_apy":3.7799,"tvl_usd":542206058,"ts":1790144501},{"symbol":"OUSG","name":"Ondo Short-Term US Government Bond Fund","issuer":"Ondo Finance","yield_apy":3.72,"tvl_usd":315369554,"ts":1790144501},{"symbol":"BUIDL","name":"BlackRock USD Institutional Digital Liquidity Fund","issuer":"BlackRock / Securitize","yield_apy":3.6283,"tvl_usd":3069552192,"ts":1790144501},{"symbol":"USDY","name":"Ondo US Dollar Yield","issuer":"Ondo Finance","yield_apy":3.59,"tvl_usd":2191055452,"ts":1790144501},{"symbol":"USDY.sol","name":"Ondo USDY (Solana)","issuer":"Ondo Finance","yield_apy":3.59,"tvl_usd":180375902,"ts":1790144501},{"symbol":"USYC","name":"US Yield Coin","issuer":"Circle (formerly Hashnote)","yield_apy":3.4333,"tvl_usd":2507223165,"ts":1790144501},{"symbol":"TBILL","name":"OpenEden T-Bill Vault","issuer":"OpenEden","yield_apy":3.2491,"tvl_usd":20094225,"ts":1790144501}],"total_tvl_usd":8825876548,"excluded":[{"symbol":"BENJI","issuer":"Franklin Templeton","reason":"No issuer-level DefiLlama yields entry; only small DEX pairs (WETH-BENJI), which are not the fund itself."},{"symbol":"USTB.superstate","issuer":"Superstate","reason":"DefiLlama attributes the USTB ticker to project 'invesco-ustb'. Superstate mapping unconfirmed - do NOT merge with Invesco."},{"symbol":"USDM.mountain","issuer":"Mountain Protocol","reason":"Severe ticker collision: USDM is used by Mento (Celo/Monad), Moneta (Cardano), MegaETH and others. No safe issuer-level match."},{"symbol":"syrupUSDC","issuer":"Maple Finance","reason":"Project slug 'maple' exists but all syrupUSDC symbol matches are third-party lending/DEX venues (aave, morpho, kamino, jupiter), not the issuer pool. Needs targeted probe."},{"symbol":"bIB01","issuer":"Backed Finance","reason":"Zero DefiLlama yields coverage for bIB01."},{"symbol":"USDL","issuer":"Paxos","reason":"Only unrelated DEX pairs matched the USDL ticker; no issuer-level entry."}]},"x_text":"Tokenized RWA yields, 2026-09-23:\n\nUSTB — 3.78% ($542.2M)\nOUSG — 3.72% ($315.4M)\nBUIDL — 3.63% ($3.07B)\nUSDY — 3.59% ($2.19B)\nUSDY.sol — 3.59% ($180.4M)\n\n$8.83B tracked. Issuer-level sources only.\nhttps://data.ochinimus.app/r/2026-09-23-tokenized-treasury-yields","created_ts":1790146802}