Asset
MUSD
Best APY
5.99%
Total TVL
$2.66M
Active pools
6
Chains
4
Overview
MUSD is a fiat-backed stablecoin used as base collateral across lending protocols and the dominant quote asset on DEX pools. Its role in DeFi primarily involves serving as a settlement currency for various transactions, which shapes its yield strategies towards conservative lending and liquidity provision. Six active pools across three chains and three protocols accept MUSD, with the best APY reaching 3.17% through supply-side lending.
The limited number of venues focusing on this asset suggests a more concentrated exposure rather than broad diversification. This concentration could indicate that allocators are primarily seeking stability over yield maximization. Tracked TVL for MUSD sits at $114K, reflecting its niche but stable role in the DeFi ecosystem.
APY variance is mainly driven by lending utilization rates and reward-token emissions from protocols. The headline risk associated with MUSD includes depegging risks inherent to any fiat-backed stablecoin. Additionally, smart-contract vulnerabilities pose a secondary risk when the asset is involved in complex financial instruments or aggregators.
Composed 2026-05-21 from the structured data above. See methodology for the full pipeline.
Tracked TVL history
Where to earn yield on MUSD
All pools holding MUSD
FAQ
› Where can I earn yield on MUSD?
MUSD is supported by 3 protocols across 4 chains, with 6 active pools tracked. The list above is sorted by TVL.
› What's the highest APY for MUSD?
The best advertised APY across pools holding MUSD is 5.99%. Always check the underlying protocol and chain before chasing yield - high APY usually means high risk.
› What's the total tracked TVL for MUSD?
$2.66M is currently sitting in pools that hold MUSD.