what's Apyx?
Apyx is the world's first Dividend-Backed Stablecoin (DBS) protocol fueled by Digital Credit, offering enhanced yield from public market dividends delivered onchain. It features apxUSD, a synthetic dollar backed by preferred equity in Digital Asset Trusts (DATs), and apyUSD, the yield-bearing stablecoin that accrues recurring dividends. Designed to solve the stablecoin yield crisis, Apyx provides transparent, scalable savings without risky lending or liquidity provisioning. The protocol operates via a Digital Credit Flywheel: acquiring DAT preferred shares, aggregating offchain dividends, and channeling them into onchain yield. Transparency includes daily NAV reporting, real-time collateral visibility, verifiable securities holdings, and monthly attestations. Supported by the team behind DeFi Development Corp. (Nasdaq: DFDV), the first Solana DAT, Apyx launches on Ethereum in February 2026 with Solana support following, bridging public capital markets to DeFi.
Apyx offers $5M to borrow at 1.6% against 15% yield PT on Morpho; TVL is $70M, up 100%.
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x.com/apyx_fiHas over $5 million available to borrow at 1.6% interest rate against a 15% yielding PT on Morpho.
Reached approximately 70M TVL, representing over 100% increase from the previous month.
Mentioned in Bankless podcast episode discussing recent crypto industry developments alongside topics including Google's quantum computing warning, Solana DeFi hack, Ethereum L2 unification, and crypto wallet evolution.
Apyx's apxUSD stablecoin is trading at $0.9712 on Pendle PT markets on Ethereum as of April 3, 2026.
Completed third smart contract security audit conducted by Zellic.
Integrated with 3Jane for up to 40% unsecured credit lines against apxUSD/Pendle PT/LP positions, alongside 10+ other DeFi protocols.
Listed apyUSD/apxUSD principal tokens as collateral on Morpho, enabling stablecoin looping for 16% APR.
Integrated with Saturn Credit and Superstate to offer 11%+ onchain $STRC yields.
Reached $43M TVL in the PT apyUSD pool on Pendle.
Integrated with Pendle Finance on Base, offering RWA pools (apxUSD, apyUSD) with up to 100% APR for apyUSD incentives and 14.11% APR for PT apxUSD (DAT Strategy's STRC). Reached $1.6M remaining borrow for PT-apyUSD on Pendle with 98% APY, enabling a 75% looping strategy with Morpho borrowing (14.78% APY) and listed for institutional swaps.
Backed by tokenized preferred equity from Digital Asset Treasuries, held by Kraken and xStocksFi.
Launched apxUSD and apyUSD on Base February 26, 2026. Integrated Chainlink CCIP for cross-chain transfers, becoming one of 18 recent Chainlink ecosystem integrations, and audited by Certora, Quantstamp for apxUSD.
Largest protocol wrapping STRC (MicroStrategy's 'Stretch'), holds 288,888 shares valued at $29M, aiming to be the largest STRC holder. Operates as the first dividend-backed stablecoin protocol with native governance token APYX (100M max supply), distributing 50% monthly protocol reserve growth to stakers.