PYUSD-USDC (Convex)

Where the yield comes from

The reported yield primarily comes from trading fees earned by the liquidity pool. Separately reported token incentives account for 0.00 percentage points of the current APY.

What can reduce the rate

Yield may fall if trading volume or token incentives decline.

Risk detail

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.

Risk dimensions

• ProtocolModerate concern+
• GovernanceModerate concern+
• Oracle dependencyUnknown+
• AssetHigher concern+
• LiquidityHigher concern+
• Rate durabilityModerate concern+
• ExposureModerate concern+
• Custody and counterpartyUnknown+
• Terms and redemptionUnknown+
• InterconnectionModerate concern+
• Data qualityModerate concern+

Principal risks

• An emergency pause authority exists with broad scope.
• Multiple volatile assets increase composition risk.

Exposure

Exposure type

Multi-asset position

Assets

USDC + SENPYUSDMAIN

User deposits USDC. User deposits SENPYUSDMAIN. Funds enter Convex on ethereum. Contracts are upgradeable or governance-controlled. USDC introduces Circle and banking partners custodian exposure. Exit via remove liquidity.

Exit conditions

Exit terms are not fully reported.

Some product terms are currently incomplete.

Data sources

Source observed

Oct 6, 2026, 6:02 PM UTC

Yield.ly refresh

Oct 6, 2026, 6:11 PM UTC

Data generated

Oct 6, 2026, 6:17 PM UTC

• DefiLlama · total APY, base APY, reward APY, TVL
• CoinGecko · token icon

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