what's OCRR (Onchain Reference Rate)?

OCRR is the onchain economy's SOFR, providing a standardized, transparent benchmark for stablecoin reference rates and yield curves in DeFi. It aggregates daily spot rates for USD stablecoins (e.g., USDC, USDT) from top lending protocols like Aave, Maple, Spark, and others across major chains such as Ethereum and Solana. Rates are weighted by TVL, with diagnostics including pool coverage, GINI coefficient for concentration risk, and diversification metrics to ensure robustness. The platform extends beyond spot rates by constructing a full term structure yield curve using fixed-rate markets from protocols like Pendle. All data is sourced directly onchain, eliminating intermediaries and enabling institutional-grade rate infrastructure for DeFi applications, risk management, and pricing derivatives.

OCRR uses Pendle's fixed-rate markets for a stablecoin yield benchmark term structure.