Centrifuge Protocol · Pharos

USDC (Janus Henderson Treasury Fund)

Overview

The Centrifuge Protocol USDC pool on Pharos is a single-asset stablecoin lending position where suppliers earn variable interest on USDC deposits. The protocol generates yield by routing borrowing demand against pooled liquidity and paying out from the resulting interest spread. This pool stands as one of several venues for USDC on Pharos, catering to users seeking exposure in real-world asset-backed finance.

Total APY is 3.57%, with no additional reward component. Trend data is not available for this pool. The current rate falls below the 30-day mean of 3.84%. This suggests a slight compression in borrower demand over recent weeks.

TVL stands at $15M, showing stability given its size. Primary exposure lies in depeg risk on the underlying USDC stablecoin. Utilisation rates for this pool are typical within the real-world asset category, ensuring supply-side rates remain responsive to borrowing activity.

Composed 2026-05-22 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Depeg risk

  The pool is built on stablecoins. A depeg of any underlying asset would impact returns and principal.

• Yield variability

  Current APY is 5.35%; 30-day mean is 3.60%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Down" with 74% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.