Convex Finance · Ethereum

PYUSD-USDC

Overview

The Convex Finance PYUSD-USDC pool on Ethereum is a single-asset stablecoin position where suppliers earn yield from deposits of PYUSD-USDC tokens. The protocol generates returns by routing borrowing demand against pooled liquidity and distributing the interest spread to suppliers. Total APY stands at 6.01%, combining base lending with an additional reward layer. Over the past week, the rate has declined by 0.42% and over the last month, it has fallen by 5.19%. This places the current yield below the 30-day mean of 5.01%. TVL in the pool is $7.19M with no reported change over the past week. The primary risk here involves depeg risk on the underlying stablecoin, given that this is a single-asset stablecoin pool. Stability and liquidity depth are key factors for suppliers to monitor in such pools.

Composed 2026-05-20 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 0.02%; 30-day mean is 0.18%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 88% confidence based on historical patterns.

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