apyUSD is Apyx's yield-bearing stablecoin backed by preferred shares in digital credit assets (STRC ~11% APY, SATA ~12.5% APY). Monthly dividend distributions pass through to holders as an appreciating exchange rate.
This is a max-APY yield loop: PT-apyUSD is supplied as collateral and USDC is borrowed against it on Morpho, then recycled back into PT-apyUSD to multiply the underlying Preferred Dividends yield. Because the two assets are price-correlated, the position targets amplified yield rather than directional price exposure.
as-of 2026-10-14T08:53:51.306Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1