Exponent19.67%
16.31%
15.40%
$34.9M
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Strategy overview
Lock in a return on ONyc through Exponent's fixed-term market. The position redeems at maturity; exiting earlier depends on market liquidity.
- How it works:
- A yield-bearing token is split into a principal leg and a yield leg. You buy the principal token below face value and redeem it at full value on the maturity date — the gap is your fixed yield.
- What you hold:
- A principal-token position redeemable for ONyc at maturity.
- Who runs it:
- Exponent — live since 2024 · audited by 5 firms · no known incidents
Position details
- APY Now
- 19.67%
- 7D Avg
- 16.31%
- 30D Avg
- 15.40%
- TVL
- $34.9M
- Tokens
ONyc- Lock Period
- 8d
- Matures
- Sep 10, 2026
Moderate risk · Grade C
42/100
- The strategy is more complex than plain lending — a fixed-term market adds moving parts that can each go wrong.
- Where the return comes from adds risk — yield comes from reinsurance premiums.
- ONyc's backing carries more risk than plain cash reserves — a non-standard reserve model.
Strategy
- Strategy type80
Fixed-term market
- Leverage0
No leverage.
- Yield source70
Yield comes from reinsurance premiums.
- Pool usage0
Not a utilization-driven product.
- Pool size2
~$34.9M pool.
- Lock-up & yield stability11
Locked 8d; 30d APR volatility 1.0pp.
What can go wrong
- The return is fixed only if you hold to maturity. Selling early is subject to the market price and slippage.
- Value depends on the underlying yield token keeping its peg and the protocol honoring redemption at maturity.
- Your capital is effectively committed until maturity.
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.
About ONyc
Each asset in this position — what it is, how reliable it is, and any past depegs.
ONycONycYield-bearing stable
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): 0.0340%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.
Splits a yield-bearing token into principal and yield legs. Buying the principal token (PT) at a discount locks in a fixed yield redeemable at maturity.
- Admin controls45
Upgradeable behind a multisig (threshold undisclosed).
- Exploit history0
No known exploits.
- Track record40
Live for ~27 months.
- Price feeds · no data55
Oracle setup unknown.
- Scale12
$133.4M TVL — limited adoption so far.
- Safety reserves · no data40
No disclosed treasury/insurance backstop.
- Bug bounty15
Live bug bounty up to $250k.
- Audits0
Audited (Offside Labs, OtterSec, Sec3, Certora, Adevar Labs).
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