Yield Intelligence Changelog

Impact Notes

• The benchmark registry adds optional `RUB`, sourced from the Central Bank of Russia DailyInfo `KeyRateXML` feed; RUB validation uses the same wider `[-10%, 100%]` band as TRY so high local reference rates are accepted
• `a7a5-old-vector` leaves the intentional-gap manifest and resolves through a rate-derived `CBR key-rate reserve-yield proxy (net of 1.00pp)` row with `benchmarkOverrideKey: RUB`
• `usdx-hex-trust` and `reusd-resupply` deterministic lending pins are repointed to live DeFiLlama pools, stale `doc-money-on-chain` and `pmusd-precious-metals` pins are removed, and `reusd-resupply` gets an exact-pool safety bypass with written rationale
• `bifi` and `fraxlend` join the lending allowlist from the audit-queue follow-up, while the existing APY, TVL, safety, and category gates still decide whether their candidate pools publish
• Same-symbol auto-lending collision blocks now protect unrelated pools such as Kava USDX vs Hex Trust USDX, Virtue VUSD vs Monad VUSD, and legacy Nexus NUSD vs Neutrl NUSD
• The monthly coverage audit now emits stale auto-lending override queue items, and sync/status metadata exposes published ranking-count deltas so coverage regressions are visible in Yield Health
• No global APY, TVL, safety, or floor policy changes were made; Binance BFUSD, Gate GUSD, Tradable notes, dEURO, and eBUSD remain deferred until stable public machine-readable APY sources or adapter paths are verified

Impact Notes

• `mmev-midas` gains a curated `protocol-api:midas-mmev-nav-oracle` source from the issuer-listed Ethereum mMEV/USD oracle, using the oracle value as a NAV anchor with a three-day freshness guard
• The benchmark registry adds optional `TRY`, sourced from CBRT EVDS BIST TLREF series `TP.BISTTLREF.ORAN`; TRY validation uses a wider `[-10%, 100%]` band so Turkish reference rates are not rejected by the normal 20% ceiling
• `witry-brix` now has rate-derived TRY coverage through the BIST TLREF overnight proxy
• Rate-derived configs can set `benchmarkOverrideKey`; the APY formula still derives from the configured product benchmark, while PYS/excess-yield provenance can compare the row against a distinct benchmark hurdle
• USD tokenized T-bill/MMF proxy rows now compare against `USD_EFFR` in PYS/excess-yield provenance, and EUR/GBP treasury proxy rows carry explicit same-currency override keys for future-safe provenance
• `structured-tranche` keeps its runtime taxonomy but now renders as `Structured Tranche`; frontend opportunity grouping treats structured tranches alongside lending and fixed-yield external opportunities
• Monthly coverage-audit allowlist recommendations now derive from the unmatched high-TVL queue plus the protocol-category gate, with suggested config snippets, source links, and promotion metadata for cheap reviewed rounds
• PYS formula, source-risk calibration, history semantics, and publication guards are unchanged except where row-level benchmark selection uses the explicit override

Impact Notes

• GBP benchmark refresh now uses the Bank of England IADB SONIA Compounded Index `IUDZOS2` instead of the overnight SONIA proxy
• The daily benchmark cron annualizes the trailing 90-day index change to produce `GBP 3M compounded SONIA`
• Benchmark metadata records source `boe-sonia-compounded-index`
• GBP feed failures use fallback mode `gbp-sonia-compounded-index-failed` and retain the existing retained-last-market behavior when available
• PYS formula, source arbitration, source-risk calibration, publication guards, and non-GBP benchmark paths are unchanged

Impact Notes

• `fixed-yield` joins the YieldType taxonomy with the Fixed Yield label for fixed-maturity principal-token opportunities
• Pendle supplemental PT market rows now publish as `protocol-api` `fixed-yield` candidates with source keys shaped as `protocol-api:pendle:<chain>:<marketAddress>`
• Pendle rows keep underlying stablecoin matching through the PT market's underlying asset symbol/address instead of creating synthetic stablecoin entries
• `fixed-yield` joins `lending-opportunity` in the external opportunity projection guard, so PT rows can appear alongside native holder-yield rows without displacing those rows through variant projection or parent inheritance
• PYS formula, benchmark selection, source-risk calibration, history semantics, and publication guards are unchanged

Impact Notes

• The curated lending allowlist now includes `aries-markets`, `blend-pools-v2`, `current`, `curvance`, `scallop-lend`, and `tydro`
• These protocols were verified on 2026-06-09 as DeFiLlama category Lending with live single-asset stablecoin pools on Aptos, Stellar, Sui, Monad, and Ink
• Speculative non-lending categories remain excluded by the protocol category gate before they can become high-confidence allowlist recommendations
• The existing APY floor, chain-specific TVL floors, supply-relative `0.1%` gate, reserved-pool exclusion, and source-risk penalty semantics continue to apply
• PYS formula, benchmark selection, history semantics, and publication guards are unchanged; the bump records a source-roster expansion only

Impact Notes

• `usdgo-osl` is yield-bearing again and leaves the intentional-gap manifest because it now has a reliable rate-derived runtime APY path
• The benchmark registry adds optional `USD_EFFR`, sourced from FRED DFF (`fred-dff`) as the Effective Federal Funds Rate feed
• USDGO computes rate-derived APY as `max(0, USD_EFFR - 38 bps)`, matching OSL public material that references approximately 3.24% net yield versus May 2026 EFFR after fees
• The default USD benchmark remains `USD` / FRED `DGS3MO`; `USD_EFFR` is a source-specific benchmark key for EFFR-linked products rather than a replacement global USD hurdle
• PYS formula, source-risk penalties, publication guards, and benchmark retained-last-market semantics are unchanged

Impact Notes

• The DEX-liquidity job caches DeFiLlama `/protocols` metadata under `defillama-protocols`, and the monthly yield coverage audit reuses that cache to annotate protocol recommendations with DeFiLlama category metadata
• `high-confidence` lending-allowlist recommendations now require a category of Lending, CDP, RWA Lending, or Uncollateralized Lending; missing categories and non-lending categories stay `review-needed` even when TVL and pool count are high
• Auto-discovered lending opportunities now use the table-driven `CHAIN_LENDING_TVL_FLOOR_USD`: `$100K` remains the default floor, while Aptos, Berachain, Cardano, Ink, Monad, Plasma, Solana, Stacks, Stellar, and Sui use the configured `$25K` smaller/pre-mainnet floor
• The supply-relative lending gate still applies on top of the chain floor for eligible tracked stablecoins
• Reviewed venue-risk tiers now cover the tracked backlog: `spark-savings`, `yearn`, `yearn-finance`, and `pendle` are `low`; `maple`, `morpho`, `morpho-v1`, `morpho-blue`, and `beefy` are `medium`; unknown or unreviewed venues remain neutral
• Monthly coverage audits now re-probe explicit generic `convertToAssets` quarantines with configured monthly `chainRpcs` when available; `reusd-re-protocol` has an inactive audit probe config and remains outside hourly `ON_CHAIN_RATE_CONFIGS`
• Successful nonzero quarantine probe rates inside the `<=300%` exchange-rate envelope produce `quarantineReadyToRestore`, `quarantineProbeSummary`, and an operator queue candidate kind `quarantine-ready-to-restore`; restoration remains manual
• `scrvusd-curve` stays quarantined from the generic reader because it already uses the dedicated current-rate reader; `scrvusd-curve` and `reusd-re-protocol` both carry `nextReviewAt: 2026-07-09`
• Tier 1 deterministic APYs above the 300% sanity envelope are counted in sync metadata at `sourceCoverage.onChainEnvelopeRejectionCount` with bounded examples and truncation state; fallback resolution remains unchanged
• Sync metadata now records `sourceCoverage.comparisonAnchorFreshness` with anchored row count, stale anchor count, oldest stale anchor age/source, bounded stale examples, and truncation state
• Admin `/api/status` exposes the comparison-anchor freshness summary at `yieldHealth.comparisonAnchorFreshness`; it is observability-only and does not change source arbitration, scoring, or publication eligibility
• PYS formula, history semantics, and publication guards are unchanged; `low` remains a no-op and `medium` continues to contribute the existing +0.15 source-risk penalty
• DEWS v6.07 consumes reviewed medium venue risk as `structured-medium-risk-venue` (+10) while the existing high-risk venue branch remains +25

Impact Notes

• `susdc-spark`, `susdt-spark`, `syrupusdc-maple`, `syrupusdt-maple`, `yvusdc-yearn`, `gtusdc-gauntlet`, `sgho-aave`, `wsrusd-reservoir`, `stcusd-cap`, `savusd-avant`, and `yousd-yield-optimizer` now have deterministic ERC-4626 exchange-rate coverage where the configured chain reader is available
• Curated DeFiLlama rows for those wrappers remain eligible as fallback or retained alternate sources; the update improves source resilience without changing wrapper ownership semantics
• `fusd-finchain`, `safo-spiko-usd`, and `spkcc-spiko` gain rate-derived coverage for fund or rebase mechanics that price-derived APY cannot model cleanly
• `aave-v4` joins the curated lending auto-discovery allowlist
• The phantom `stbt-matrixdock` intentional-gap entry is pruned because STBT is not a tracked stablecoin and could not surface in the yield adapter manifest
• VBILL is intentionally excluded from this rate-derived batch; its metadata points to an on-chain NAVLink-style NAV feed, so it belongs to a future NAV-oracle source lane
• PYS scoring math, source-risk penalties, history semantics, and publication guards are unchanged; the bump records source-roster and coverage-accounting changes

Impact Notes

• GBP benchmark refreshes use the Bank of England IADB SONIA CSV (`IUDSOIA`) directly
• JPY benchmark refreshes use Bank of Japan Time-Series Data Search `STRDCLUCON`, replacing the discontinued FRED mirror that ended at December 2023
• AUD benchmark refreshes use the Reserve Bank of Australia F1 money-market CSV cash-rate target instead of the FRED 3-month interbank mirror
• Retained-last-market fallback semantics and PYS scoring math are unchanged; the bump records benchmark source reliability and source-roster changes

Impact Notes

• On-chain and price-derived rows with comparison anchors older than 14 days carry `anchor-stale` decision evidence and publish the existing `data-stale` warning even when the current source observation is fresh
• The hourly publisher compares the candidate rankings against the previous public cache for yield-bearing rows, non-yield-bearing lending-opportunity rows, and total ranking count before replacing the cache
• Severe lending-opportunity or total ranking count regressions return a degraded no-op so partial supplemental loss does not silently overwrite the last good public rankings snapshot
• Layer-3 DeFiLlama fallback no longer accepts substring-only symbol matches; exact normalized symbols can still match, and prefixed/suffixed wrapper rows require underlying-token address corroboration
• PYS scoring math and source confidence tiers are unchanged; the bump records publication safety, freshness labeling, and source-resolution guardrails

Impact Notes

• Adds a shared 300% APY sanity envelope for generic on-chain exchange-rate and price-derived observations
• Rejects out-of-envelope Tier 1 on-chain rows instead of publishing or storing the suspicious current exchange rate as a fresh history anchor
• Rejects out-of-envelope price-derived NAV rows so curated DeFiLlama, protocol API, or rate-derived rows can win arbitration instead of being displaced by a transient price spike
• Protocol-specific adapters and benchmark rate-derived rows keep their existing source-family rules and are not governed by this generic annualization guard

Impact Notes

• Royco Dawn market rows publish under `royco-dawn:<chainId>:<marketId>:senior` and `royco-dawn:<chainId>:<marketId>:junior` source keys rather than creating synthetic stablecoin registry entries for tranche share tokens
• The supplemental source lane maps Royco deposit-token addresses against tracked stablecoin contracts and configured wrapper variants, including the Neutrl `sNUSD` -> `nusd-neutrl` route
• A new `structured-tranche` yield type labels tranche opportunities without applying generic base-asset lending size gates designed for ordinary lending suggestions
• PYS now consumes an opportunity-level tranche Safety Score for Royco rows: senior rows are capped at or below the underlying Safety Score, while junior rows carry first-loss, utilization, coverage, drawdown, market-status, TVL, withdrawal, explicit access, and venue-posture penalties
• Royco tranche safety is exposed through nested `sourceRisk` fields such as `trancheSide`, `underlyingSafetyScore`, `trancheSafetyScore`, `marketCoverageRatio`, `marketUtilizationRatio`, and `marketStatus`; the underlying Report Card Safety Score itself is unchanged
• Read-time safety hydration recomputes Royco tranche safety from the live underlying Report Card snapshot instead of overwriting the row with the raw underlying Safety Score

Impact Notes

• `gho-aave` no longer carries parent-side yield metadata, `YIELD_POOL_MAP`, or `YIELD_VARIANT_MAP` entries for sGHO
• `sgho-aave` remains the tracked Aave Savings GHO yield asset and keeps the curated Aave V3 DeFiLlama pool mapping
• `dola-inverse-finance` no longer carries yield-bearing metadata, `YIELD_POOL_MAP`, `YIELD_VARIANT_MAP`, or generic on-chain exchange-rate coverage for the untracked sDOLA wrapper
• The generic on-chain vault set drops the DOLA/sDOLA parent mapping, reducing the documented `ON_CHAIN_RATE_CONFIGS` count from 12 to 11
• `usdn-smardex` now uses its exact SMARDEX USDN DeFiLlama single-exposure pool after the asset was corrected from NAV-token to rebase semantics
• `a7a5-old-vector` is explicitly yield-bearing but remains an intentional runtime gap until a reliable RUB benchmark or issuer APY source is wired
• PYS scoring math, source-risk penalties, and confidence arbitration are unchanged; the bump records source ownership and tracked-universe routing

Impact Notes

• `sdusd-dtrinity` is admitted as a CoinGecko-backed active NAV variant with `variantOf: dusd-dtrinity` and a 100% wrapper dependency on dUSD
• `dusd-dtrinity` is no longer statically marked yield-bearing and no longer resolves sdUSD through `YIELD_VARIANT_MAP`
• The existing Ethereum/Fraxtal dStake weighted DeFiLlama pool group now publishes under `sdusd-dtrinity` with the same `defillama-weighted:dtrinity-sdusd` source key
• Parent-side dUSD sdUSD history is suppressed through the ownership-handoff cleanup path so wrapper APY history does not remain attached to the base stablecoin
• PYS scoring math, source-risk penalties, and confidence arbitration are unchanged; the bump records source ownership and tracked-universe routing

Impact Notes

• `fpi-frax`, `silk-shade-protocol`, and `isc-international-stable-currency` now carry the NAV-token metadata needed to route through price-derived NAV-appreciation coverage instead of appearing as yield coverage gaps
• `cgusd-cygnus-finance` gains a rate-derived T-bill proxy source modeled net of its 0.35% protocol fee
• `usdn-noble` gains a rate-derived M0 T-bill rebase proxy source with no configured spread
• PYS scoring math, source-risk penalties, and confidence arbitration are unchanged; the bump records corrected coverage routing and source-roster expansion

Impact Notes

• `cetes-etherfuse` gains a curated `protocol-api:etherfuse-cetes-current-issuance` source that reads Etherfuse's first-party Next data for the active CETES issuance `interestRateBps`, avoiding USD/MXN FX movement being interpreted as yield
• The price-derived CETES fallback can still run as an alternate source, but curated protocol-API confidence makes the Etherfuse issuance rate the selected source when available
• MXN benchmark resolution still prefers Banxico SIE `SF43936`; when `BANXICO_TOKEN` is missing or Banxico fails, the cron tries Etherfuse CETES current issuance as an explicit `isFallback` / `isProxy` benchmark with `fallbackMode` ending in `etherfuse-stablebond`
• If both Banxico and Etherfuse fail, the existing retained-last-source behavior remains in place; otherwise MXN stays unavailable and affected rows fall back to USD
• The CETES self-reference caveat remains: when the asset yield and the MXN benchmark both represent CETES exposure, spread credit is intentionally near zero rather than inflated by USD FX effects

Impact Notes

• New public endpoint `/api/yield-adapter-manifest` enumerates every adapter row (deterministic on-chain, curated DeFiLlama, protocol-API, auto-discovery lending overrides, rate-derived, price-derived, and intentional coverage gaps) with a 5-minute cache profile
• Each entry exposes `stablecoinId`, `coinSymbol`, `family`, nullable `sourceKey`, optional `sourceKeyPattern`, `label`, optional `chain`/`project` hints, `lifecycle` (`active` / `quarantined` / `intentional-gap` / `experimental`), and the current `methodologyVersion`
• `sourceKey` is populated only when the entry has an exact runtime key that joins to rankings, decision rows, or `/api/yield-history?sourceKey=...`; runtime-resolved and disabled rows use `sourceKeyPattern` instead of synthetic non-runtime keys
• Quarantined adapter rows are surfaced as disabled entries for the underlying family, with the quarantine rationale carried in `quarantineReason`, so active sibling sources stay active
• Methodology version stamp is the canonical Yield Intelligence label and is included on every entry so downstream consumers can pin against a known methodology snapshot
• Public decision ledger surfaces selected reason code, previous best source key, sourceSwitch boolean, and up to 2 retained alternates (with coded rejection reasons) on every `/api/yield-rankings` row through the new `decisionLedger` field; reason codes ship as a stable enum so UI templates render text client-side
• When a source switch's previous source is present in the evaluated candidate set, `decisionLedger.apy30dDeltaFromPrevious` carries the selected APY30d delta versus that previous source
• Persists PYS / safety / variance snapshots on each `yield_history` row (`pys_at_publish`, `safety_at_publish`, `variance_at_publish`) for honest reconstruction of historical rankings without recomputing from live inputs
• Decision-ledger alternatives migrate to a sibling `yield_source_decision_alternatives` table; the legacy `alternatives_json` blob is still written for one cycle of co-existence so admin readers can dual-source. A nullable `retention_reason` column on `yield_source_decisions` tags each row as `trend` (source switch, any evaluated-source anomaly, or rejection of a higher-confidence source) or `audit` so audit-only rows and old null rollout rows can be pruned at 30 days while trend rows persist
• Scoring, source resolution, history semantics, and publication rules are unchanged in v8.14; the bump tracks the new public contract only

Impact Notes

• EUR/CHF retain their existing native benchmarks; GBP now uses FRED `IUDSOIA` (SONIA proxy), JPY uses FRED `IRSTCB01JPM156N` (TONA-equivalent overnight call rate proxy), MXN uses Banxico SIE `SF43936` (CETES 28d, requires `BANXICO_TOKEN`), BRL uses BCB SGS series `11` (SELIC), AUD uses FRED `IR3TIB01AUM156N` (3M interbank, RBA cash rate proxy), and CAD uses Bank of Canada Valet series `V122530` (CORRA proxy)
• AED, IDR, TRY, ZAR, and SGD continue to fall back to USD until a stable public feed is wired; SGD is registered in the type but no fetcher landed in this batch
• CETES self-reference caveat is now explicit: benchmarking the Etherfuse CETES tokenization against the MXN CETES rate yields ≈0% spread, so PYS now under-rewards the asset rather than the prior over-reward; a tokenized-treasury rule can override per-source to the next-tier-up rate later
• `sourceRiskScore` is now derived from the resolved source-risk penalty via `computeSourceRiskScoreFromPenalty` when no upstream value is provided, normalizing `penalty=1` to `0` and `penalty=2.5` to `100`, ending the 100% null rate documented in the v8 production-sample calibration
• First reviewed venue tier batch in `YIELD_RISK_CONFIG`: `aave-v3`, `compound-v3`, and `sparklend` move to `low` (currently a no-op penalty); `morpho-blue` moves to `medium` (+0.15 penalty contribution); remaining tracked venues stay `unknown` with rationale/evidence fields until the next monthly coverage audit
• Rollback compatibility is preserved: missing or invalid source-risk inputs continue to resolve to the neutral source-risk penalty, and v7.48-shaped payloads remain schema-valid

Impact Notes

• `pc0000031-tradable`, `pc0000033-tradable`, `pc0000089-tradable`, and `pc0000101-tradable` stay yield-bearing but do not publish synthetic runtime APY rows
• The yield manifest reports the four Tradable notes as intentional gaps instead of silently dropping them from coverage accounting
• Contract-priced zero-volume private-credit notes stay out of live rankings until a trustworthy source can measure realized yield

Impact Notes

• `gtusdc-gauntlet`, `susdc-spark`, `susdt-spark`, `sgho-aave`, `ybold-yearn`, and `yvusdc-yearn` now own curated single-exposure DeFiLlama native pool mappings
• `aa-falconx-mev-capital` remains covered by its NAV/price-derived fallback path until a usable single-exposure nonzero APY source is available; the current DeFiLlama tranche row is not pinned because it is multi-exposure and reports zero APY
• `benji-franklin-templeton`, `wtgxx-wisdomtree`, `ustbl-spiko`, and `eutbl-spiko` now resolve through the rate-derived benchmark lane, with EUTBL using the EUR benchmark override
• The curated lending allowlist now includes AutoFinance, Neverland, Metrom, Mystic Finance, Bitway, and Frankencoin, with exact deterministic lending pins for `reusd-resupply`, `xusd-babelfish`, and `usda-anzens`
• Exact-pool commodity coverage now includes XAUT on Lista Lending and PAXG on Hydration, and the source-link registry covers the new Tier C and Hydration labels

Impact Notes

• Resolved sources for active tracked variants such as `ybold-yearn` and `sbold-k3-capital` can now publish linked parent candidates under `bold-liquity` with `linked-variant:<variantId>:<sourceKey>` source keys
• Variant assets still own their native runtime rows and history; parent projection is a linked source route for comparison and coverage, not a reversion to parent-owned wrapper metadata
• Third-party `lending-opportunity` rows are not projected from variants to parents, and duplicate parent source pools are skipped so the parent does not receive repeated observations for the same venue
• `felix-cdp` and `sovryn-dex` are now in the curated lending allowlist, with deterministic pool pins for `feusd-felix`, `dllr-sovryn`, `doc-money-on-chain`, and `tgbp-tokenised` so current source-backed opportunities can pass normal APY, TVL, and safety gates
• Coverage can increase only where a parent has a live source-backed tracked variant; the publisher does not create no-source or synthetic APY rows to inflate coverage counts

Impact Notes

• `sourceRisk.sourceRiskPenalty` is populated from measured reward share, source depth, source age, source-switch count, bootstrap history, and sourced venue tier where available; missing or invalid evidence stays neutral (`1`) and penalties clamp to the `1..2.5` range
• DeFiLlama rows without row-level observation timestamps inherit the DeFiLlama input metadata age, keeping provenance freshness and source-age scoring penalties aligned
• PYS now computes source-risk-adjusted row utility before applying the existing safety curve, volatility multiplier, benchmark spread weight, and scaling factor
• Same-confidence source arbitration compares source-risk-adjusted utility after penalty resolution, then falls back to APY and TVL tie-breakers
• The hourly publisher now writes the `yield-rankings` cache through CAS before replacing current `yield_data` rows, so failed cache writes or older-run CAS skips preserve the previous published D1 snapshot for downstream readers
• External lending opportunities remain no-op inputs for base stablecoin Safety Scores; report-card yield-risk helpers normalize the source-risk payload but return explicit no-op adjustments until a separate report-card methodology version consumes them
• Legacy `v7.48` payloads without `sourceRisk`, rank, attribution, or publication fields remain schema-valid, and missing source-risk fields continue to behave neutrally

Impact Notes

• `dusd-dtrinity` resolves an exact DeFiLlama weighted pool group for Ethereum and Fraxtal sdUSD
• The synthetic source key starts a new history series so prior Ethereum-only rows are not treated as equivalent 30-day samples
• The dUSD metadata entry stays unchanged because its checked-in collateral and contract data already documents chain-isolated deployments

Impact Notes

• `savusd-avant` now owns the Avant native savings pool directly in the yield manifest
• `avusd-avant` is no longer marked yield-bearing because avUSD is the non-yield base asset and savUSD is the yield-accruing route
• Parent-side `avusd-avant` savUSD variant and pool mappings were removed so new yield history publishes under the tracked savUSD asset

Impact Notes

• `zys-zephyr-protocol` is tracked as a yield-bearing NAV wrapper over `zsd-zephyr-protocol`
• `protocol-api:zys-zephyr-protocol` reads Zephyr Scanner one-day effective APY and publishes it as `Zephyr Scanner ZYS returns`
• `zsd-zephyr-protocol` remains non-yield-bearing so the base stablecoin does not receive the wrapper's APY row

Impact Notes

• `usg-tangent` now carries `yieldBearing: false`, matching Tangent's USG/sUSG split
• `usg-tangent` is removed from intentional yield-gap coverage because it is no longer part of the yield-bearing manifest universe
• The intentional-gap manifest remains reserved for assets that are actually marked yield-bearing but lack a reliable runtime APY source

Impact Notes

• `susd-solayer` now has an explicit rate-derived T-bill fallback strategy in the yield manifest
• Reward-bearing account products and restricted strategy tokens without reliable public APY telemetry are not marked as runtime yield-bearing, so they do not publish misleading zero-strategy yield rows
• The active yield-bearing invariant still requires every marked asset to have a runtime strategy before it can enter live yield rankings

Impact Notes

• `sUSDe`, `sUSDS`, `sDAI`, `sfrxUSD`, and `scrvUSD` now own the native runtime pool and deterministic rate readers that used to live on `USDe`, `USDS`, `DAI`, `frxUSD`, and `crvUSD`
• Those five base assets no longer advertise wrapper-owned `yieldBearing` metadata or serve the old wrapper APY series through `/api/yield-history`; the historical discontinuity is intentional and reflects corrected ownership rather than a missing backfill
• Parent-side wrapper source keys are filtered immediately at read time and purged on the hourly yield sync path, so misattributed pre-handoff rows do not linger under the base ids after rollout

Impact Notes

• Cap `stcUSD`, GAIB `sAID`, Main Street `msY`, and K3 `sBOLD` are tracked as first-class yield-bearing NAV/wrapper assets rather than as native yield on cUSD, AID, msUSD, or BOLD
• `stUSDS` uses the generic on-chain ERC-4626 exchange-rate reader because the risk-capital token is distinct from Sky's plain sUSDS savings wrapper and has no standalone DeFiLlama stablecoin row
• Aave Umbrella `stkGHO` is inventoried as an intentional runtime-yield gap until a reliable reward APY source is available, avoiding a misleading zero-yield publication

Impact Notes

• On-chain rows whose first observations were bootstrap `0%` APY placeholders now compute `apy7d`, `apy30d`, `excessYield`, yield stability, and PYS from real APY samples once an anchor exists
• `excessYield` remains defined as `apy30d - benchmarkRate`; detail-page and hero-chip copy now labels it as 30-day based so it is not confused with current APY spread
• Historical seed rows remain in `yield_history` for exchange-rate anchoring, but the evaluator excludes rows with `data_source='onchain'`, `exchange_rate IS NOT NULL`, `apy = 0`, and `apy_base IS NULL` from rolling stats

Impact Notes

• `pusd-polaris` is now an explicit pre-launch intentional gap instead of resolving through a deterministic Silo v2 lending override
• Yield source resolution now skips configured explicit or deterministic lending candidates unless the target asset is in the active stablecoin universe
• The stablecoin metadata registry now keeps pre-launch assets in per-coin files with `status: "pre-launch"`; the legacy `shared/data/stablecoins/pre-launch.json` shell stays empty while upcoming pages and launch alerts continue to work

Impact Notes

• Legacy parent-side `crvusd-curve` rows are quarantined from the generic `convertToAssets(1e18)` Tier 1 reader because that trailing 7-day delta understated Curve's current savings APY
• The new `onchain:scrvusd-curve:scrvusd-current-rate` source reads scrvUSD vault `totalSupply`, `totalAssets`, `profitUnlockingRate`, and `fullProfitUnlockDate` to compute the current daily-compounded APY
• The existing DeFiLlama scrvUSD pool remains as a curated alternative and fallback row, while source-specific history starts fresh under the new current-rate source key

Impact Notes

• `usdai-usd-ai` is no longer treated as a yield-bearing wrapper host, so base USDai stops inheriting sUSDai's savings pool as its native yield source
• New tracked asset `susdai-usd-ai` now owns the existing USD.AI savings pool mapping directly, aligning yield rankings with the dedicated sUSDai detail page and nav-token semantics
• The stale USD.AI wrapper config that pointed at Arbitrum PYUSD as the `sUSDai` variant address is removed, eliminating a concrete address-level misbinding

Impact Notes

• `bd-basedollar` is now classified the same way as other pre-launch yield-bearing assets with no live runtime source, so the manifest no longer reports it as a covered entry with zero strategies
• Coverage audits and operator tooling continue to inventory every yield-bearing asset, but pre-launch gaps are now fail-closed and explicit rather than implicit
• The public yield methodology docs and timeline now call out the intentional-gap treatment for these pre-launch assets

Impact Notes

• For tracked stablecoins, lending-opportunity rows now require `sourceTvlUsd` and must clear `max(existing absolute floor, 0.1% of current supply)` before publication
• This applies across auto-discovered DeFiLlama lending markets, deterministic exact-pool overrides, and supplemental protocol-native lending venues
• TVL-less protocol suggestions no longer fail open into live recommendations; until venue size is observable they are omitted from published lending-opportunity coverage
• Yield methodology docs and changelog entries now document the new supply-relative recommendation gate explicitly

Impact Notes

• The supplemental Yearn/Kong reader now recognizes Ethereum `Staked yBOLD` and pins it to `bold-liquity` as `K3: sBOLD`
• This source is classified as `lending-vault`, keeping BOLD's wrapper-over-wrapper Stability Pool path in the native-yield bucket rather than `lending-opportunity` or `governance-set`
• Source-link resolution now deep-links `K3: sBOLD` to Liquity's dedicated earn route
• Yield methodology docs and the public changelog now document the additional native BOLD source coverage

Impact Notes

• Supplemental protocol-API lending candidates such as `Morpho: Resolv USDC` are dropped before ranking publication when the venue label resolves to Resolv / `USR`, `stUSR`, or `wstUSR` exposures
• Auto-discovered DeFiLlama lending pools now preserve `poolMeta` in the shared cache and apply the same Resolv / USR exclusion rule, keeping the hourly publisher and the slower supplemental lane aligned
• The exclusion is scoped to `lending-opportunity` venues, so native tracked yield assets and their own methodology coverage remain unchanged
• Wrapper-over-native venues such as BOLD / `yBOLD` are documented and classified as native yield rather than `governance-set` when the wrapper only packages the protocol's own Stability Pool return
• Yield methodology docs and the public changelog now document the explicit USR-linked venue exclusion rule

Impact Notes

• PYS now computes `effectiveYield = max(0, apy30d + 0.25 * (apy30d - benchmarkRate))` before dividing by the adjusted risk penalty, so local-currency benchmark outperformance affects the score directly
• The change rewards rows that clear tighter EUR, CHF, or other native hurdles without turning PYS into a pure excess-yield ranker
• Worker-time scoring and live `/api/yield-rankings` safety hydration now pass row benchmark context into the shared scorer, removing another source of score drift risk
• Leaderboard/detail breakdowns, methodology docs, and yield-changelog entries now expose the benchmark adjustment and effective-yield terms explicitly

Impact Notes

• Supplemental-backed protocol-API rows now wait 6 hours before surfacing `data-stale`, so normal end-of-cycle hourly publishes no longer show false stale warnings
• Optional Aave V3 and Compound V3 rows now use the same 6 hour freshness window because they are refreshed by `sync-yield-supplemental`, not the hourly publisher
• Deterministic hourly on-chain rows keep the existing three-hour stale threshold, so only the slower supplemental families move
• Yield methodology and operations docs now distinguish hourly, supplemental, and daily freshness windows explicitly

Impact Notes

• Compound V3 now probes both configured RPC endpoints instead of only the fallback URL, and Aave V3 plus Compound V3 rotate endpoint order across targets with a slightly deeper retry budget on the best-effort supplemental lane
• `sync-yield-supplemental` metadata now records optional RPC family target counts, attempted counts, resolved target counts, emitted row counts, missing target counts, per-chain miss breakdowns, and miss reasons
• Layer 2 wrapper matching can now pin a preferred DeFiLlama project in addition to chain and address, so shared wrapper tokens like `sUSDe`, `sUSDS`, and similar cases stay fail-closed without attaching to the wrong venue
• Under-specified wrapper configs now carry explicit live chain/address/project pins for native venues such as `sUSDai`, `sNUSD`, `savUSD`, `sUSDu`, `syzUSD`, `sAID`, `stCUSD`, and `sGHO`

Impact Notes

• Aave V3 supplemental supply-rate rows now participate in arbitration as curated protocol-native venues rather than deterministic wrapper rows
• Native wrapper yields such as sDAI no longer lose the primary row to a lower-yield supplemental lending market purely because the lending reader used an on-chain transport
• Source keys and alternative-source history remain unchanged, so only arbitration precedence moves
• Yield methodology docs and the timeline now document that Tier 2.5 lending readers do not outrank stronger native wrapper yields by source family alone

Impact Notes

• Mixed-benchmark scopes such as the default `All` view now render the horizontal benchmark line and four shaded quadrants again
• When the visible set mixes USD, EUR, and CHF hurdles, the scatter frame explicitly uses the USD benchmark as a shared visual reference
• Mixed-view copy now tells users that the background zones are an orientation frame and that each row's benchmark tag still governs excess-yield interpretation
• Yield methodology docs and the changelog now describe the restored mixed-view scatter behavior explicitly

Impact Notes

• `price-derived` rankings now use a 36 hour stale threshold because they are backed by daily `supply_history` snapshots rather than hourly source observations
• Hourly publication families such as on-chain, DeFiLlama, protocol-native, and auto-discovered rows still mark stale after three missed `sync-yield-data` intervals
• Healthy daily snapshot rows such as USTB, USDA, and CETES no longer show false `data-stale` warnings after roughly one day of normal operation
• The methodology docs, changelog, and operations note now document the source-cadence freshness windows explicitly

Impact Notes

• EUR benchmark refreshes now use the ECB's official 3-month compounded €STR series (`EST/B.EU000A2QQF32.CR`) instead of the overnight €STR series
• CHF benchmark refreshes now fetch delayed public `SAR3MC` from SIX via the guest OAuth plus report-download flow, replacing the old SNB policy-rate proxy
• CHF benchmark entries are no longer labeled as proxies, and mixed-benchmark UI copy now names the 3-month compounded EUR and CHF cash hurdles explicitly
• Methodology docs, API examples, and the about-page source inventory now reflect the new EUR/CHF risk-free benchmark stack

Impact Notes

• Aave V3 supplemental on-chain rows now use asset-scoped source keys, so same-chain markets no longer overwrite each other in the supplemental cache
• `sync-yield-supplemental` now reports raw candidate count, deduped candidate count, and dropped-row count in cron metadata so silent row loss becomes visible to operators
• The monthly coverage audit now counts explicit auto-discovery overrides and curated exact-pool overrides as covered DL surfaces instead of treating only `YIELD_POOL_MAP` UUIDs as covered
• High-TVL coverage-gap reporting now focuses on unsupported protocol surfaces rather than flooding the audit with already-supported allowlisted markets

Impact Notes

• `data-stale` now triggers after three `sync-yield-data` intervals (currently about 3 hours) instead of after a hard-coded 90 minutes
• Stablecoin detail Yield Intelligence cards no longer flag healthy hourly snapshots as stale after only one delayed publish window
• The stale-warning threshold is now derived from shared cron metadata so future cadence moves stay aligned automatically
• Methodology docs and the internal timeline now describe the cadence-aware stale-warning rule explicitly

Impact Notes

• EUR benchmark refreshes now try the ECB Data API first and only fall back to the FRED €STR mirror when the official feed is unavailable
• CHF benchmark parsing now normalizes the SNB page to text before extracting the policy-rate sentence, avoiding breakage from harmless markup changes
• Degraded benchmark metadata now reports explicit EUR and CHF failure modes instead of collapsing first-run failures into a generic `unavailable` bucket
• Yield methodology, API examples, and source inventory now reflect the official ECB feed plus the hardened SNB proxy parser

Impact Notes

• PYS now computes yield efficiency as `apy30d / (riskPenalty ^ 1.75)` instead of dividing by a linear safety penalty
• The global `PYS_SCALING_FACTOR` increased from `5` to `8` so score distribution remains readable after the steeper safety curve
• Live `/api/yield-rankings` hydration now reuses the shared PYS scorer, removing formula drift risk between cron-time scoring and read-time safety hydration
• Leaderboard, detail-surface breakdowns, docs, and the methodology page now reference the adjusted risk penalty explicitly

Impact Notes

• The benchmark cache now publishes a small benchmark registry instead of only a single global USD risk-free rate
• Each ranking row now exposes its selected benchmark label, rate, fallback state, and selection mode so excess-yield semantics remain explicit downstream
• Detail pages, hero chips, and yield-history charts now label excess yield against the row's actual benchmark instead of hard-coding `vs T-Bill`
• The `/yield` page now hides the single benchmark line on mixed-benchmark views and restores it only when the visible scope shares one benchmark
• CHF support uses the public SNB policy rate as a proxy rather than the SNB-published SARON display, whose usage is restricted

Impact Notes

• The `/yield` page now supports peg-scoped ranking views, including a `non-usd` preset that groups the live EUR, CHF, SGD, MXN, and commodity rows into one visible universe
• Tier-2 DeFiLlama ingestion now preserves exact curated non-stablecoin pool UUIDs in addition to native pool IDs and wrapper symbols
• A new exact-pool override lane can publish assets like `xaut-tether` from a named venue when the UUID, project, chain, and symbol all match and the APY/TVL quality gates pass
• Generic gold/silver auto-discovery remains disabled, preventing mixed baskets such as Multipli's RWAUSDI pool from being misclassified as single-asset commodity yield sources

Impact Notes

• DeFiLlama discovery, variant matching, and protocol-native adapters now prefer chain+address identity and drop ambiguous symbol-only candidates instead of attaching them to the first matching coin
• Protocol-native source keys now use full chain-aware identifiers (Morpho, Pendle, Yearn, Kong, Beefy, Compound, Aave) and source-link matching understands prefixed and chain-qualified labels
• Yield manifest coverage now includes explicit price-derived fallbacks and intentional gaps, so assets like cetes-etherfuse no longer disappear from coverage reporting
• Warning heuristics and published `medianApy` now share the same TVL-weighted 30d benchmark
• yield-history no longer advances past the latest published yield-rankings snapshot when DB writes and cache publication diverge

Impact Notes

• Chain-scoped matching adds optional chainFilter to findBestLendingPool, derived from coin contract deployments
• Variant scanner detects sXXX/stXXX/wXXX prefix and SAVE/VAULT/EARN/STAKE suffix patterns in DL pools
• Monthly coverage audit cron (1st of month, 06:00 UTC) flags unmatched high-TVL pools and missing protocols
• Protocol recommendations classify missing protocols as high-confidence (>$10M, 3+ pools) or review-needed

Impact Notes

• 10 protocol-native adapters provide direct yield data, reducing DeFiLlama intermediation
• Aave V3 + Compound V3 direct on-chain supply rates across Ethereum, Arbitrum, and Base
• Kong adapter covers 2,083 ERC-4626 vaults (Yearn + Morpho + Spark + Fluid + others)
• USTB + thBILL upgraded from T-bill proxy to actual on-chain ERC-4626 exchange rate reads
• DeFiLlama yield history backfill gives instant 365-day charts for newly tracked coins
• Expanded lending protocol allowlist with 19 new protocols (Wildcat $235M, Tectonic $100M, etc.)
• cusd-cap flagged as yield-bearing with stCUSD savings wrapper ($68M TVL)
• Lower TVL floor ($25K) captures Solana/Sui/Aptos/Cardano/Stacks lending markets

Impact Notes

• usbd-bima now emits a protocol-native `BIMA savings (sUSBD)` source row sourced from BIMA's published `/api/earn/pools` feed
• Yield arbitration treats protocol-owned earn APIs as curated sources rather than misclassifying them as on-chain or DeFiLlama data
• The about page and source-link registry now expose BIMA's earn surface as an official yield-source reference

Impact Notes

• Price-derived and on-chain rankings now expose the age of their actual observation inputs instead of always presenting as fresh at sync time
• Derived-source provenance now includes comparison-anchor timing so older anchors are visible to downstream consumers
• All allowlisted lending protocols now resolve to curated source links instead of falling back to coin-level websites or nulls

Impact Notes

• Rankings publication is now validated before live row mutation, reducing DB/cache divergence risk on schema or publish-guard failures
• Degraded runs retain prior current rows by skipping destructive cleanup instead of deleting rows while upstream inputs are impaired
• dUSD and reUSD were removed from the generic ERC-4626 deterministic adapter set until protocol-specific readers exist, reducing false confidence in Tier 1 coverage

Impact Notes

• Polaris pUSD now resolves through a deterministic Silo v2 lending market override, fixing the prior bypass-only configuration gap
• USDX, USDO, and USDM now use deterministic exact-symbol lending overrides rather than waiting on the generic dynamic discovery path
• These explicit overrides bypass the normal C- safety gate only for a short named list of high-TVL or protocol-native edge cases, preserving the broader global discovery standard

Impact Notes

• Auto-discovered lending opportunities now accept single-asset pools down to $100K TVL and 0.10% APY, capturing still-meaningful long-tail markets without opening full dust-pool coverage
• The curated lending allowlist now includes More Markets and SmarDex USDN, while Polaris pUSD can bypass the report-card gate through an explicit vetted edge-case override
• Price-derived APY now annualizes from the oldest available price anchor between 7 and 45 days instead of requiring a strict 30-day sample, improving early coverage for newer NAV tokens

Impact Notes

• USYC and thBILL now participate in rate-derived Treasury fallback coverage alongside the existing BUIDL/USTB/YLDS/mTBILL/OUSG set
• Auto-discovered lending coverage now recognizes additional curated protocol slugs already present in live DeFiLlama data, including Loopscale, Vesper, Lista Lending, Liqwid, Overnight, Lagoon, and NAVI Lending
• The lending auto-discovery TVL floor was reduced from $1.0M to $0.5M to capture still-meaningful long-tail lending markets without opening the door to dust pools

Impact Notes

• Direct DeFiLlama yield fetches now degrade on invalid payloads or zero relevant stablecoin pools instead of being treated as a benign empty set
• Runs now degrade when all configured deterministic on-chain sources fail in the same cycle, exposing that outage in rankings provenance
• Retained `risk_free_rate` fallbacks preserve the last market-derived benchmark fields across degraded streaks, and rankings-cache publication now blocks on severe shrink versus the prior cache

Impact Notes

• On-chain rate configs now emit a seed row when no previous exchange rate exists, breaking the bootstrapping deadlock that prevented Tier 1 APY computation since launch
• buildOnChainSourceKey consolidated from 3 duplicate definitions into a single shared export
• Pool pre-filter set allocations promoted from per-call to module-level for improved DL pool ingestion performance
• Live safety hydration coverage ratio now uses active card count instead of total card count for accurate degradation detection

Impact Notes

• DeFiLlama pool ingestion now retains single-exposure wrapper pools that are explicitly relevant via native or variant config even when upstream `stablecoin` flags are false
• Deterministic on-chain rows now use `onchain:<stablecoinId>` source keys so previous-rate lookups and source-aware history cannot collide with curated pool UUIDs
• Live `/api/yield-rankings` safety hydration keeps rows with `DEFAULT_SAFETY_SCORE` / `NR` when report-card coverage is incomplete instead of dropping yield coverage
• Retained benchmark fallbacks stay marked as degraded, and malformed stored `warning_signals` payloads no longer fail `yield-history` requests

Impact Notes

• yield_history now persists per-source rows with best-source markers instead of a single mixed best series
• 7d and 30d APY metrics are computed from source-specific history, preventing source-switch contamination
• Rankings now include provenance for benchmark freshness, safety coverage, source-switch state, and selection reasoning
• Cross-source arbitration can reject divergent discovered or fallback sources when canonical sources disagree materially

Impact Notes

• Added direct on-chain LUSD source using Liquity Stability Pool deposits and CommunityIssuance totals
• APR converts projected LQTY emissions to USD using CoinGecko spot price and excludes ETH liquidation gains by design
• LUSD can now surface both B.Protocol Stability Pool and auto-discovered lending alternatives in the same ranking payload

Impact Notes

• yield_data primary key changed to (stablecoin_id, source_key) with per-source rows
• is_best now marks the highest-APY source per coin; non-best alternatives are retained
• Tier 2 matching aggregates all valid sources (native map, wrapper map, symbol fallback)
• /api/yield-rankings now includes altSources[] and UI exposes +N alternative source details

Impact Notes

• Auto-discovery added minimum APY/TVL filters and expanded protocol allowlist coverage
• Deterministic pool overrides introduced for hard-to-match symbols (including explicit safety bypass handling)
• findBestLendingPool now falls back to underlying token address matches when symbol matching fails
• Price-derived fallback explicitly extended to BUIDL when no usable on-chain or DL source exists

Impact Notes

• Resilience inputs in inline safety computation now use shared isBlacklistable() logic
• Risk penalties in PYS better reflect inherited blacklist exposure
• Reduced divergence between yield-page safety grades and safety-scores page outputs

Impact Notes

• NAV tokens were included in inline safety scoring instead of defaulting to implicit NR behavior
• Yield sync now reuses cached DeFiLlama pools from DEX sync to reduce upstream fetch failures
• Non-finite 30-day APY volatility values are sanitized before D1 writes

Impact Notes

• Added allowlist-based auto-discovery pass over DeFiLlama lending pools
• Eligibility gated by safety score threshold before pool selection
• Introduced defillama-auto source type and lending-opportunity yield classification

Impact Notes

• warning_signals persistence added with spike/divergence/trend/reward/TVL-outflow checks
• Signal detection now uses market-median APY and prior TVL context per coin
• Tier-2 deterministic source map added explicit fxUSD Stability Pool coverage

Impact Notes

• Added wave-1 variant/pool mappings for additional native-yield stablecoins
• Near-zero mean handling in stability/variance math prevents coefficient-of-variation blowups
• Safety fallback and finite-value guards were formalized for ranking writes

Impact Notes

• 7-day APY switched to timestamp-window filtering instead of proportional sample slicing
• Tier-1 previous exchange-rate reads were reused from cached lookup state
• Yield stability display normalized as a true 0-100 percentage in UI components

Impact Notes

• Introduced three-tier APY resolution (on-chain rate, DeFiLlama pool, NAV price-derived fallback)
• Launched PYS model (risk penalty + variance sustainability multiplier + scaling factor)
• Added yield_data/yield_history tables and public yield-rankings/yield-history API handlers