What Is the Difference Between apxUSD and apyUSD?

apxUSD is a flexible dollar token that pays no yield on its own. apyUSD is what you receive when you lock apxUSD in the vault, and it earns the reserve's dividend income.

How Do I Convert apxUSD Into apyUSD?

Open Earn in the Apyx app, enter an amount of apxUSD and confirm the lock. You receive apyUSD at the current exchange rate.

Where Does apyUSD Yield Come From?

From dividends paid on the preferred equity held in the reserve. They are converted into apxUSD and added to the vault.

Does apxUSD Earn Native Yield?

No. Holding apxUSD earns nothing. To earn, lock it into apyUSD or use it in a supported DeFi integration.

How Does Unlocking apyUSD Work?

Request an unlock in the app. Your apxUSD becomes claimable once the unlock period ends. See the docs for current timings and any early-unlock fee.

apxUSD + apyUSD

Digital credit, onchain.

Two tokens backed by one reserve. Use apxUSD when you want flexibility, and apyUSD when you want income.

Get apxUSD Start Earning

Price: $0.99$1.43
APY: 13.78%
TVL / Supply: $134.6M$153.53M

apxUSD + apyUSD

One reserve. Two ways to use your capital.

13.78%

apyUSD 30-Day Trailing APY

Core Vault OnEthereum

Available On

Dividends from the reserve are converted into apxUSD and added to the vault, so each apyUSD redeems for more apxUSD over time.

Project Your apyUSD Growth.

Choose a starting amount, a monthly top-up and a time horizon to see how apyUSD could grow.

Your Investment

Starting amount

Monthly addition

Investment horizon

years

apyUSD 30D APY13.78%

Exchange rate1.44 apxUSD / apyUSD

Dividends ReinvestedStart Earning

Projected redeemable value

$62,680

Total contributions

$40,000

Estimated dividend yield

$22,680

apyUSD Total contributions

For illustration only. Uses the APY shown above with monthly compounding and top-ups added at month end. Fees are not included, and actual results will differ.

Why the Two-Token System Works.

apxUSD and apyUSD draw on the same reserve. Hold the liquid dollar, then move into dividend yield when it suits you.

Stay Flexible With apxUSD

A dollar token you can trade, transfer or bridge at any time, with no lock and no cooldown.

Get apxUSD →

Move Into Yield With apyUSD

Lock apxUSD into the vault to receive apyUSD. Its exchange rate climbs as dividends come in.

Start Earning →

Use Both Onchain

Use either token in lending markets, liquidity pools and fixed-yield products.

Explore Integrations →

Verify One Shared Reserve

One reserve backs both tokens, and you can check its live figures on the dashboard.

View Transparency →

From Liquidity to Yield,
In One System.

apxUSD is the principal layer. Lock it in the vault to receive apyUSD, a non-rebasing token whose exchange rate rises as income is added.

How It Works

Purchase apxUSD

Swap USDC or other supported assets into apxUSD in the Apyx app.

Keep It Flexible

Hold, transfer or bridge apxUSD whenever you need liquidity.

Get apyUSD

Lock apxUSD into the vault and receive apyUSD at the current rate.

Earn or Unlock

Hold apyUSD to keep earning, or unlock it back into apxUSD.

apxUSD and apyUSD in Detail

Eligibility: Users outside restricted jurisdictions. See the Terms of Service.
Underlying Assets: Preferred equity from Digital Asset Treasury companies, plus cash equivalents.
Liquidity: apxUSD trades onchain at any time. apyUSD unlocks back into apxUSD.
Transferability: Freely transferable tokens on every supported network.
Legal Structure: To be confirmed. See the Terms of Service.
Use Cases: Payments, collateral, liquidity provision and yield.
Regulatory Compliance: Geo-restricted. Not offered in restricted jurisdictions.
Issuer Domicile: To be confirmed. See the Terms of Service.
Available Networks