Project 04.51%
3.59%
4.14%
$949K
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Strategy overview
Deposit USDC into Project 0's lending market. Your deposit earns variable interest paid by over-collateralized borrowers.
- How it works:
- Your deposit joins a shared pool that over-collateralized borrowers draw from. The interest they pay is split among suppliers, so your yield rises and falls with how much of the pool is borrowed (utilization).
- What you hold:
- A lending position representing your supplied USDC plus accrued interest.
- Who runs it:
- Project 0 — live since 2023 · audited by 2 firms · no known incidents
Position details
- APY Now
- 4.51%
- 7D Avg
- 3.59%
- 30D Avg
- 4.14%
- TVL
- $949K
- Tokens
USDC- Deposit Address
- 2s37akK2eyBbp8DZgCm7…
Low–moderate risk · Grade B
24/100
- Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).
- Where the return comes from adds risk — yield comes from over-collateralized lending.
- No published reserve fund that could repay users after an incident.
Strategy
- Strategy type20
More complex strategy type.
- Leverage0
No leverage.
- Yield source45
Yield comes from over-collateralized lending.
- Pool usage20
Utilization unknown for a pool-based product.
- Pool size41
~$948k pool.
- Lock-up & yield stability0
30d APR volatility 1.0pp.
What can go wrong
- Withdrawals can be delayed when the market is near full utilization — your funds are lent out until borrowers repay.
- Yield is variable, not fixed, and can drop as borrowing demand falls.
- A bad-debt event in the market (a borrower's collateral can't cover their loan) can affect all suppliers.
The assets
What your deposit is held in, and how steady its value is.
- Backing model10
USDC: fiat-backed.
- Peg history5
USDC: worst recorded peg deviation informs this score (12 recorded event(s)).
- Issuer size0
USDC: ~$73.8B market cap.
- Exit liquidity0
USDC: ~$404.4M DEX depth.
- Token age0
USDC: live since 2018.
- Freeze authority35
USDC: issuer can freeze token accounts.
About USDC
Each asset in this position — what it is, how reliable it is, and any past depegs.
USDCUSD CoinStablecoin
Low RiskBy Circle. Backed 1:1 by cash and short-term US Treasuries held in regulated reserves. · Live since 2018
- ·Worst deviation from $1 peg: 0.08% (tracked window).
- ·Held its peg 100.0% of the time.
Peg adherence (7d): 100.0%Worst deviation (7d): 0.034%DEX liquidity: $404.4M
Audited: Yes — Deloitte (monthly attestations)
Past depeg events
EPjF…Dt1v
Token notes & warnings
- Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
- Mintable — The authority's owner has the ability to mint more tokens
The team and protocol behind this, and their track record.
Supplies your stablecoins to Project 0's on-chain money market (the marginfi-v2 program), earning a share of the variable interest over-collateralized borrowers pay. Multiply loops a deposit against a borrow for amplified yield.
- Admin controls45
Upgradeable behind a multisig (threshold undisclosed).
- Exploit history0
No known exploits.
- Track record19
Live for ~39 months.
- Price feeds0
Multiple robust price feeds (Switchboard, Pyth).
- Scale21
$60.8M TVL — limited adoption so far.
- Safety reserves · no data40
No disclosed treasury/insurance backstop.
- Bug bounty15
Live bug bounty up to $500k.
- Audits0
Audited (OtterSec, Sec3).
How we rate risk
Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.
Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.
Non-custodial · Akashi never holds your funds