OrcaOpen at source0.72%
1.05%
1.19%
$5.9M
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Strategy overview
Provide ONyc/USDC liquidity through Orca. Your position earns trading fees when users swap between the two pool assets.
- How it works:
- You deposit both pool assets into a DEX market. Traders swap against that liquidity, and the fees they pay accrue to liquidity providers; rewards may add extra yield.
- What you hold:
- LP shares representing your contribution to the ONyc/USDC pool and the fees it has earned.
- Who runs it:
- Orca — live since 2021 · audited by 3 firms · no known incidents
Position details
- APY Now
- 0.72%
- 7D Avg
- 1.05%
- 30D Avg
- 1.19%
- TVL
- $5.9M
- Pool Pair
- ONyc – USDC
- Underlying Tokens
ONyc–
USDC- Pool Type
- Orca Whirlpool (concentrated)
- Tick Spacing
- 1
- Fee APR
- 0.72%
- Pool Fee
- 0.01%
Low–moderate risk · Grade B
32/100
- ONyc's backing carries more risk than plain cash reserves — a non-standard reserve model.
- Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).
- Mid-size issuer — less cushion than the largest stablecoins (~$288.7M market cap).
Strategy
- Strategy type35
Two-token pool
- Leverage0
No leverage.
- Yield source40
Yield comes from trading fees.
- Pool usage0
Not a utilization-driven product.
- Pool size17
~$5.9M pool.
- Lock-up & yield stability0
30d APR volatility 0.7pp.
What can go wrong
- If either asset loses its peg, the pool can leave you holding more of the weaker asset.
- Concentrated positions stop earning fees while the market price sits outside their selected range.
- Yield varies with trading volume, fee rates, and any temporary reward emissions.
The assets
What your deposit is held in, and how steady its value is.
- Backing model55
ONyc: other-backed.
- Peg history · no data30
No peg history accrued yet (ONyc).
- Issuer size45
ONyc: ~$288.7M market cap.
- Exit liquidity23
ONyc: ~$5.8M DEX depth.
- Token age56
ONyc: live since 2025.
- Freeze authority35
ONyc: issuer can freeze token accounts.
These rows show ONyc. The overall score counts the weaker token on each measure.
About ONyc
Each asset in this position — what it is, how reliable it is, and any past depegs.
ONycONycYield-bearing stablePool_a
Low RiskBy OnRe. Yield-bearing token backed by a Bermuda-regulated reinsurance account; yield comes from underwriting premiums plus reserve collateral. · Live since 2025
- ·Yield-bearing — price is designed to drift upward, so it has no fixed $1 peg.
- ·Price volatility: 0.06% (30d).
Volatility (7d): 0.0339%DEX liquidity: $5.8M
Audited: Yes — Apex Group (NAV attestations); Harris & Trotter (financial audit)
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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.
Provides two-sided liquidity to a stablecoin pair via Whirlpools' concentrated liquidity, earning a share of swap fees while the price stays in the chosen range.
- Admin controls45
Upgradeable behind a multisig (threshold undisclosed).
- Exploit history0
No known exploits.
- Track record0
Live for ~67 months.
- Price feeds10
Pool-priced AMM — no external price-feed dependency.
- Scale6
$253.1M TVL — limited adoption so far.
- Safety reserves · no data40
No disclosed treasury/insurance backstop.
- Bug bounty15
Live bug bounty up to $500k.
- Audits0
Audited (Neodyme, OtterSec, Kudelski).
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