Decentralized Finance (DeFi) offers direct access to lending and savings protocols without intermediaries. Yields are generated through audited smart contracts on blockchain. APYData tracks the main DeFi protocols in real time so you can compare APYs easily.
| # | Entity | Product | APY | Score | Risk | Liquidity | View |
|---|---|---|---|---|---|---|---|
| 1 |
Fluid
|
Fluid — USDC Supply (Arbitrum) | 4.81% | 4.6 | Medium | Instant | View → |
| 2 |
Aave
|
Aave v3 Staked GHO (sGHO) | 4.71% | 4.6 | Medium | Instant | View → |
| 3 |
Fluid
|
Fluid — USDT Supply (Ethereum) | 4.38% | 4.5 | Medium | Instant | View → |
| 4 |
Moonwell
|
Moonwell — USDC Supply (Base) | 3.99% | 4.4 | Medium | Instant | View → |
| 5 |
Spark
|
SparkLend Supply USDS | 3.88% | 4.4 | Medium | Instant | View → |
| 6 |
Jupiter
|
Jupiter Lend USDC | 3.88% | 4.4 | Medium | Instant | View → |
| 7 |
Sky
|
Sky Savings sUSDS (Arbitrum) | 3.75% | 4.3 | Medium | Instant | View → |
| 8 |
Sky
|
Sky Savings sUSDS | 3.75% | 4.3 | Medium | Instant | View → |
| 9 |
Spark
|
Spark Savings USDC | 3.75% | 4.3 | Medium | Instant | View → |
| 10 |
Morpho
|
Morpho Steakhouse USDC (Base) | 3.75% | 4.3 | Medium | Instant | View → |
| 11 |
Fluid
|
Fluid — USDC Supply (Ethereum) | 3.55% | 4.3 | Medium | Instant | View → |
| 12 |
Ethena
|
Ethena Staked USDe (sUSDe) | 3.52% | 2.3 | High | Varies | View → |
| 13 |
Spark
|
Spark Savings USDT | 3.18% | 4.2 | Medium | Instant | View → |
| 14 |
Aave
|
Aave V3 — USDC Supply (Base) | 2.73% | 5.3 | Low | Instant | View → |
| 15 |
Compound
|
Compound V3 — USDC (Ethereum) | 2.62% | 5.3 | Low | Instant | View → |
| 16 |
Aave
|
Aave v3 Supply USDC | 2.46% | 4.0 | Medium | Instant | View → |
| 17 |
Aave
|
Aave v3 Supply USDT | 2.15% | 3.9 | Medium | Instant | View → |
Following the collapse of Terra/Luna in 2022 and the closure of centralized platforms such as Celsius and BlockFi, the DeFi ecosystem has matured significantly. Advertised yields have fallen to more realistic levels and, more importantly, most now come from real economic activity rather than inflationary token issuance.
Before investing in any DeFi protocol, identify the source of the yield. Sustainable sources are: real demand for loans (Aave, Morpho), network fees for staking (Lido, Rocket Pool), and trading fees on AMMs (Uniswap). Unsustainable sources are: emissions of the protocol's own token. A 15% yield on stablecoins that comes 80% from protocol tokens is not comparable to a 4% yield backed entirely by real interest from borrowers.
At APYData, we apply two minimum filters to include a DeFi protocol: TVL greater than $50 million and more than 12 months of operation without serious incidents. A protocol with $200 million in TVL that has been active for three years and has undergone multiple audits has a radically different risk profile than one launched three weeks ago with promises of high returns.
Unlike banking products, there is no guarantee fund in DeFi. If a smart contract is exploited—even in audited protocols—funds can be permanently lost. This risk is mitigated by choosing protocols with multiple audits from recognized firms (Trail of Bits, OpenZeppelin, Certora) and a history of incident-free operation.
Our recommendation: DeFi is a complement, not a foundation. A reasonable allocation for investors with experience in crypto is 5% to 20% of investable capital in digital assets—only in protocols with high credibility and TVL. It never replaces an emergency fund or savings in guaranteed products.
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