Stable Yield

Compare stablecoin yield opportunities using their rates, size and stated risks. The Pro optimizer lets you compare three ways to allocate a given amount of capital. Patrima does not make deposits or withdrawals.

The page has four tabs, kept in its address so that a link opens the right one, and Market rates opens first. The positions you hold are in Yield, under its Stable switch: a stable position is one on a stablecoin, on a yield-bearing stablecoin or on a Pendle PT over one, each valued at its own price. The address of the former My capital tab leads there. A pool's rate is its latest observation, and one more than 7 days old is no longer read as current: it shows – next to its date and counts as unknown, and a position then falls back on its announced APY, if it has one. A data source pool absent from its source for 7 days is marked inactive and no longer offered to the optimizer.

Market rates loads when you open it. The Live rates card gives three figures: the highest rate among pools scoring 75 or more, the average rate (the simple average of the listed pools) and the number of pools scoring 75 or more. The table lists each pool with its asset, APY, 7-day change, TVL, risk and score. The risk is the higher of two levels: the protocol's, and the peg risk of the stablecoin the pool pays in; Peg risk under the level says when the peg sets it. A protocol reviewed by Patrima can be rated low; one rated only from its public data (size, audits, chains, age) is medium at best. On a phone, each pool shows its main risk next to its rate. A row opens the pool's details in a side panel that keeps the table in view: APY, 7-day change and TVL, warnings (peg drift, outlier APY, maturity), strengths and main risks, APY and TVL history over 30 days, 90 days, 1 year or all of it, the score breakdown, then the copilot reading (Pro plan) and links to the data source and, when known, the protocol's site. Two switches narrow the list by pool type (All, Single, LP) and by minimum score; the Filters button opens a panel to pick protocols, chains, trend, badge and quick filters. Under the table, Rate history shows the APY trends or the yield heatmap. The trends compare up to five pools, as a rate or as the change since the start of the period, with a quick selection (top APY, low risk, battle-tested); a pool with no history says so plainly. The heatmap crosses protocols and assets; its settings (sort, number of protocols, minimum TVL, risk, chains, assets) open under its bar, and a cell opens the pool's details, or the list of its pools when it groups several.

For an account without the plan a feature needs, the Advanced strategies tab carries the Premium badge, and the Studio and Optimizer tabs the Pro badge: the tab still opens and names the plan that includes the feature.

In the Optimizer tab, a line recalls your stable positions, their capital and their number as Yield shows them under its Stable switch, and leads there; their income today is the one Keep current allocation shows. The optimizable capital is the stable capital assigned to your yield pocket in Allocation; without a pocket, the same line offers a link there, and an empty pocket is flagged.

In the optimizer, the income your positions earn today applies the monthly equivalent of each position's annual APY to its capital, then adds the positions up, as the proposals do; a position whose APY is unknown is left out. For example, $10,000 at 8% APY corresponds to about $64 per month if the rate remains unchanged. This is an estimate, not a guaranteed payment. The optimizer distinguishes gross income, borrowing cost and net income when capital is borrowed.

Top score and Solid identify opportunities that meet Patrima's quality criteria. Volatile indicates an unstable rate; Negative outlook signals an unfavorable trend; To watch calls for closer review of the risks. A stablecoin drifting from its peg never gets Top score. The lightning marker indicates that a substantial part of the rate depends on rewards.

These badges help comparison. They guarantee neither capital safety nor a continuing rate. Check the protocol, asset, liquidity and withdrawal conditions before deciding.

Peg drift flags a fall of more than 3% from the highest observed price over the last 60 days. Beyond 10%, the asset is removed from the list and from the optimizer, whatever the source of its rows: the data sources, your own opportunities, or both. An asset-specific reference also accommodates stablecoins whose value grows with yield.

This measures a price movement. It does not establish issuer quality or redemption capacity. No verdict is shown when data is insufficient; the absence of a flag is not a guarantee of stability.

On the Pro plan, the Studio tab composes an allocation of your stable capital by hand and shows the effect of each line at once. It is a simulation: Patrima executes nothing.

The catalogue lists the live pools, the advanced strategies (Premium plan) and your own stable positions, with a search and the chain, asset and risk filters; each line shows its APY, its risk and its TVL or capacity, and a + adds it. Hovering or focusing a line shows the effect of adding it: the APY on the capital and the share in high risk, before and after, and the monthly income it adds. A new line enters at 10% of the capital, or at what remains to place when less remains; when everything is placed, it enters at 10% and the other lines shrink in proportion, which a message says, with Undo. On a phone or a narrow screen, Add a position opens the catalogue in a side panel, and a bar at the bottom keeps the APY, the monthly income and the high-risk share in view.

My composition starts from your stable capital, which you can change: the lines keep their shares. Each line has a slider and two fields, its share in percent and its amount in dollars; a strategy also has its leverage, up to its maximum, with its health factor as you move it. Removing a line offers Undo. The figures follow each change: the APY on the capital, the monthly income and the safety out of 100, each with its gap to your positions today, then the risk bar with the change in its high-risk share, and the unplaced share. Your positions are read by the same calculation, so a composition that copies them shows no gap. They are computed as the optimizer computes a proposal, so the same allocation gives the same figures on both screens. Warnings stay in view: a line above 1% of its pool or above a strategy's room, a line under $500, a health factor under 1.5, a borrow market above its target utilization, a protocol or a stablecoin above 50% of the capital, high risk above 20%.

Four shortcuts: Start from my positions, Start from an optimizer proposal (once the optimizer has run; Adjust in the studio, on a proposal, does the same and copies its lines with their exact shares and rates), Spread evenly, and Clear, which asks for confirmation. The Market rates and Advanced strategies tables also have a + on each row, and the Studio tab counts the lines of the composition. The composition stays in this browser as a draft from one visit to the next; nothing is saved on your account.

Under the composition, two views. Composition shows its history over 30 or 90 days, the rates its pools actually paid weighted by today's shares, next to those of your positions: realized rates, not a promise. A strategy, or a line without a known pool, has no history and is counted apart. The allocation follows, each line opening its pool's or its strategy's panel. Rebalancing plan is the optimizer's plan, from your positions to the composition, with change nothing first; a line without a known positive rate stays out of it.

On the Pro plan, set the capital and the goal, and the optimizer produces three proposals, Concentrated, Balanced and Diversified, each with a weighted rate, a monthly income, a net income, a split between low, medium and high risk, and a ranking score with its reasons. The three proposals compare side by side, each with its number of lines and three figures: income per month (net of any borrowing), average APY and safety out of 100 (70% the quality of the chosen pools, their average score weighted by their share, 30% their diversification: how evenly the capital is spread out of 40, the number of protocols out of 35, the number of chains out of 25, up to four); the chosen proposal's safety shows with its bar, and the detail of its calculation opens from its figure. For the chosen proposal, the gap with what your positions earn today shows, and a single list gathers what changes its reading: the gap to the goal, a high-risk share above 30%, the share in advanced strategies and their income under stress, a large share of synthetic stables, the trade the margin made, and a share of the income above half paid in reward tokens, which can fall or stop. Risk reads as one bar, and the allocation as a table, with each line's share, amount and income per month. A line opens its pool's panel, the same as in Market rates, or its strategy's panel, at its amount, for an advanced allocation. The copilot reads the proposal on request. Expert mode lets you adjust the weights given to yield, safety and liquidity. The goal is set as a target APY, by default 98% of the rate your positions earn today on that capital (5% when no income is known), or as a monthly income. Each proposal reaches the goal with the least risk it can: it starts from the safest pools its limits allow, low risk first, and takes on more risk only as far as the goal needs, about 1% above it; within a risk level, pools whose protocol Patrima has reviewed come before those rated from public data alone. A proposal whose safest pools already meet the goal keeps them as they are. With Margin around the goal, checked by default at ±5% of the goal and adjustable from 1 to 30%, each proposal is computed at several goals inside that range and keeps the one with the least high risk, then the least medium risk, then the best safety, then the best yield: a 7% goal can come out at 6.8% with less medium risk, or a 4% goal at 4.2% at the same risk; a proposal goes under the goal only when that lowers its risk by more than 2 points. A proposal under the goal says Within your margin instead of Goal achievable, and its list sets its figures against the proposal closest to the goal. Unchecked, each proposal aims at the exact goal. The lines that form the safest base of a goal read Safest base, those added to reach it Added to reach the target. A line's risk is the higher of its protocol's risk and the peg risk of its stablecoin, as in Market rates, and Peg risk under it says so; when the maximum risk sets pools aside because of their peg, the proposal says how many. The capital, the goal and the Include line, with two switches for stablecoin LP pools and advanced strategies, stay in view. Below them, the Filters line lists the settings in use and opens in place to change them: the yield source (manual, live or combined: the live rates and your own opportunities, the last saved rates standing in only for a data source that does not answer), the scope (assets, protocols, chains, maximum risk), the minimum TVL ($5M by default), pools set aside, the high-risk alert threshold (a warning above it, or, with Never exceed this threshold checked, a limit no proposal crosses: a goal that needs more high risk then shows its gap), expert mode and, when they are included, the advanced strategy settings. Reset, at the end of the line, puts the filters back to their defaults without touching the switches, and the line stays open or closed from one visit to the next on the same device. If an optimization fails, the Proposals card says so and offers to retry with the same settings. Each proposal's income is set against what your positions earn today on the same capital: their current rate on the deployed part, 0% on the idle part, and before any borrowing cost on both sides, since a loan costs the same either way. The average APY is read on the whole capital: a share the proposal cannot place counts at 0% and shows as unplaced. Each line stays within what its pool can absorb, at most 1% of the pool's deposits or the room left on a strategy's market, and holds at least $500, so a small capital gets fewer lines. When you borrow, the goal is met net of the loan's cost. The maximum risk and the scope apply to advanced strategies as well. With advanced strategies included, each proposal is computed with and without them, and the strategies are kept only when they let it reach your goal, bring it closer to the goal, or lower its high-risk share by at least the Min. high-risk reduction set in the advanced settings (5 points by default). A leveraged strategy never takes the place of a low-risk pool, and at equal risk a plain pool comes first. The proposal says which applies, with its numbers, or why no strategy passes your filters. In today's market, strategies held at a health factor near 1.5 count as high risk, so they mostly serve high goals. When you hold stable positions, Keep current allocation sits next to the proposals with today's income and no cost; when every proposal lowers your income by more than 10%, none is ranked first, and a proposal that reaches your goal is ranked before one that falls short at no less risk.

Under the chosen proposal's summary, two large tiles open its two views: Composition (safety, risk, allocation, ranking and copilot) and Rebalancing plan, a list of withdrawals and deposits that you execute yourself, or not. The plan is calculated when its view opens, and switching proposal on that view calculates the new one. It starts with two options side by side: change nothing, with your current income and no cost, then the income after the plan, its gap with today, its estimated execution costs and how long the extra income takes to cover them. The moves come next, one withdrawal or deposit per line with its amount, pool, chain, rate and estimated cost; an early PT exit or a required bridge is flagged and explained on the line, and a deposit into an advanced strategy unfolds its steps, assumptions and constraints. Copy the list copies the moves as text. When the current allocation already matches the proposal, the plan says so. The plan comes in two modes, full or minimal, and switching mode recalculates it: full mode leaves out moves under $100 and keeps eight at most, minimal mode keeps only moves of $300 or more, four at most, and the plan counts the ones it sets aside. The plan also compares before and after on the same capital. Two positions in the same pool count as one holding; a position in another vault of the same protocol is not taken for the target one; a locked position, or one available only at a later date, gets no withdrawal, and the plan says so. A position whose rate is unknown counts at the average rate of the others, before and after alike. The cost estimates cover gas and bridges, a swap fee and slippage when the stablecoin changes, and slippage on a PT exited before maturity.

Advanced strategies have their own tab, for experienced DeFi users on Premium. Premium is not yet open for public subscription.

A strategy is listed only when its borrowing leg exists on a market that accepts the posted asset as collateral, and when its net rate beats its simple option, the same position without leverage. The table lists each strategy with its asset, net rate, leverage, rate cushion, capacity and score; under the net rate, the gap with the simple option shows in points, against the collateral held alone for a loop or a carry on a yield-bearing collateral, against the PT held alone for a PT loop. The rate cushion is how many points the borrow rate can rise before the strategy stops paying. A row opens the strategy's panel on the right, with the table still in view: its net rate, its leverage with the health factor and the fall of the collateral against the debt that would trigger liquidation, and its worst case first, then its warnings, its history against the borrowing cost and the break-even rate, and rows that open on the position size, each stress scenario with its gap from today's rate, the yield formula, the steps, capacity and liquidity, the borrow market, the other markets for the same collateral, the score breakdown, the data sources and the assumptions. Income and entry cost are measured at the position size set above the table; from the optimizer, an advanced allocation opens the same panel at its allocated amount. The copilot reading comes last, and the links to the protocols sit at the bottom.

Above the table, the family filter shows every strategy, the PT loops, the loops on a yield-bearing collateral or the carries. The leverage mode puts each strategy at its reference leverage, the highest one, rounded down, that keeps its health factor at 1.5 or above, or every strategy at a leverage you choose, capped at its own maximum. The view shows buildable strategies, exploratory ones, or all of them. The position size starts at your stable capital when it is known, otherwise at a reference size of $25K, and a French decimal comma is read as such. Under the net rate, "At my size" shows what the strategy nets at that size when it differs from the headline rate. The Filters panel narrows the list by preset, chain, asset, protocol and minimum net APY. Under the table, Stress resilience draws, for each strategy, its net rate, its stress scenarios (borrow rate +200 and +500 basis points, supply rate −20%, and for a yield-bearing collateral its own yield −30% and −50%) and its worst case, written on the right; it compares the best strategies overall, by type or by asset, or a selection of your own, and a row opens the strategy's details. Basis points express small rate differences: 200 basis points equal 2 percentage points.

An exploratory strategy does not meet all conditions needed to build the position; its details explain why. Native loop means a platform offers a flow that combines the steps, without removing liquidation risk.

A loop or a carry on a yield-bearing collateral rests on the collateral's own yield. Patrima reads it three ways: the rate Pendle publishes for the token, the issuer's own pool, and the growth of the token's price over 30 days; never from a pool that merely holds the token. The yield is used when two readings agree. A token with a single reading from Pendle or its issuer is used only up to 10%; a token read only from its price, or whose readings disagree, is left out. Loops are also read on Aave's main markets of Plasma, Mantle and Monad, besides Ethereum, Base and Arbitrum. These strategies are set at their reference leverage and listed only when they earn at least 0.5 point more than holding the collateral. A carry deposits only in a pool of the same stablecoin on the same chain, with at least $5M of deposits, on a protocol whose risk Patrima has reviewed and whose exit is immediate (no redemption window, no withdrawal queue, no cooldown), never in a Pendle market.

Besides the borrow rate at +200 and +500 basis points, these two families are stressed on the collateral's yield, at −30% and −50%: sUSDe's yield follows funding rates and can stay negative for weeks. Their panel also shows the health factor if the collateral trades 3% below the debt. When the issuer imposes a redemption delay (7 days for sUSDe, 30 for sUSDai), the panel says so: a faster exit means selling the token at the market price. None of these strategies is shown at low risk.

Each strategy's panel shows the borrow market its loan is taken on: its utilization against the target its rate model steers to (90% on Morpho's adaptive curve, the reserve's optimal usage on Aave), how much can still be borrowed before that target, its price feed and the warnings the protocol publishes on it. Past the target, each new loan raises the borrow rate quickly: such a strategy says so in the table and in its panel, loses stability points in its score and is left out of the optimizer, and the panel also warns when your position size alone would carry the market past its target. A price feed the protocol flags makes the strategy exploratory; a market the protocol flags red is never used; a price feed the protocol says nothing about shows –, nothing more. Under Other markets for this collateral, the panel lists up to six other markets that lend against the same collateral on the same chain, each with its net rate at reference leverage, health factor, liquidity, room before its target and the reason it is not the one listed.

When your net worth holds ETH or BTC, in any of their wrapped or staked forms (WETH, stETH, wstETH, weETH, cbETH, rETH, WBTC, cbBTC, tBTC, LBTC), a card at the bottom of the Advanced strategies tab shows what borrowing a stablecoin against them would earn. Do nothing comes first: your ETH or BTC stays free of debt, with no cost and no liquidation risk.

Each option borrows on a Morpho or Aave market that takes your ETH or BTC as collateral, and places the loan in a pool of the same stablecoin on the same chain whose base rate beats the borrow rate by at least 0.5 point. The pools come from the reviewed part of the list: at least $5M of deposits, a protocol whose risk Patrima has reviewed, medium risk at most once the peg is counted, a quality score of 55 or more, an immediate exit and no peg drift. A loan is sized for a health factor of 2, so a 50% fall in the price triggers liquidation, and takes at most 1% of the pool's deposits and what the market can lend. Each option shows its amount, its yearly income at today's rates (≈), the price fall that triggers liquidation and the health factor after a 30% fall, with a link to the market; when the market takes another form than the one you hold, the option says a conversion comes first. Your ETH or BTC exposure stays whole and the debt adds to it. Patrima reads your positions only to size the loan and executes nothing.

You can record your own yield opportunities, for pools the data sources do not cover. The rows coming from the data sources stay read-only; yours are editable. My opportunities, in the Stable Yield header, lists them with their last APY and its date, their risk and the Active switch; an inactive opportunity is left out of the optimizer. A line's “…” menu adds an APY, marks the opportunity as verified or removes that mark, or deletes it after confirmation, keeping the positions linked to it. New opportunity opens the form: stablecoin, protocol, chain and risk level, then optionally the pool identifier, the TVL and notes. A rate you record follows the same rule as the others: after 7 days it shows – next to its date until you add a new APY.