Research
Centrifuge · Pharos · Vault
Obs · 22m agoTotal APY
4.36%TVL
$3.7MObserved risk
ModerateTVL has fallen 21% over the last 7 days where reported.
Moderate observed risk·Low evidence confidence
The reported yield comes from automated vault strategy income. Composition varies by underlying LP fees, incentives, and compounding.
Yield may fall as underlying rates, rewards, or strategy conditions change.
Yield.ly's risk assessment summarizes observable factors and data coverage. It is not an audit, credit rating, guarantee, or recommendation. Smart contracts, assets, protocols, custodians, and market conditions can fail in ways the model does not detect.
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Strengths
Unknowns
User deposits USDC. Funds enter Centrifuge on pharos. USDC introduces Circle and banking partners custodian exposure. Exit via vault redemption.
Exit terms are not fully reported.
Some product terms are currently incomplete.
Meets Yield.ly's current requirements for default discovery where qualified. Learn how qualification works
Incentive-heavy yield
A large share of this rate comes from token incentives, which can change quickly and may depend on the reward token market value.
Risk flag
Oracle design is unknown for an oracle-dependent product.
Risk flag
Strategy appears leveraged, recursive, or structurally complex.
4.3584% · Centrifuge · Pharos. Not investment advice.
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