Apyx apxUSD on Ethereum
V2A Morpho V2 vault on Ethereum that lends out apxUSD deposits, curated by Hyperithm. Depositors earn 8.54% a year right now after an 8% performance fee.
Data from Morpho's API · updated
Net APY
8.54%
after fees, paid to depositors
30-day APY
10.98%
7-day 6.92%, from the share price
Deposits
$3.48M
3.51M apxUSD
Withdrawable now
$0
0% of deposits
Performance fee
8%
of the interest earned
Depositors
105
largest holds 75.0%
Apyx apxUSD APY history
Net APY earned each day, from the vault's share price: after fees, without token rewards
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| PT-apyUSD-5NOV2026 / apxUSDLLTV 91.5% · under $1,000, not tracked here | $1.72M | 44.3% |
| PT-apxUSD-11FEB2027 / apxUSDLLTV 94.5% | $866K | 22.4% |
| PT-apyUSD-11FEB2027 / apxUSDLLTV 91.5% | $725K | 18.7% |
| PT-apxUSD-5NOV2026 / apxUSDLLTV 94.5% · under $1,000, not tracked here | $559K | 14.4% |
| PT-apyUSD-18JUN2026 / apxUSDLLTV 86% | $4.9K | 0.1% |
The curator decides which markets the vault may use and how much it may put in each (the cap). Allocators then move money between those markets within the caps. How vaults work.
What the loans are backed by
Share of this vault's lending by the collateral borrowers put up
| PT-apyUSD-11FEB2027 | 64.4% |
|---|---|
| PT-apxUSD-11FEB2027 | 35.6% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 7.04% |
|---|---|
| Last 7 days | 6.92% |
| Last 30 days | 10.98% |
| Last 90 days | 9.52% |
Who controls this vault
| Curator | Hyperithm |
|---|---|
| Owner | 0xEe7E…18C82-of-3 multisig |
| Timelock to raise a cap | 3 dayswait before more can go into a market |
| Timelock to add an adapter | 3 dayswait before a new kind of investment |
| Timelock to raise fees | None |
| Allocators | 1addresses that move money between markets |
| Sentinels | 1can pull money back or cut caps in an emergency |
| Created | May 28, 2026 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | apxUSDprice $0.9915 |
|---|---|
| Vault version | Morpho Vault V2 |
| APY before fees | 9.32% |
| Vault contract | 0x3a61…0082 |
| apxUSD token | 0x98A8…4665 |
| Network | Ethereum |
The curator's description: "This vault supplies apxUSD exclusively to markets collateralized by Apyx ecosystem tokens. Apyx is a dividend backed stablecoin protocol that tokenizes preferred equity issued by Digital Asset Treasuries DATs. For more details please refer to the official Apyx website."
Largest depositors
105 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xEf99…08e4 | $2.61M | 75.0% |
| 0xdCD0…3076 | $233K | 6.7% |
| 0x2a69…378d | $157K | 4.5% |
| 0x1e84…670d | $152K | 4.4% |
| 0x1006…58Df | $103K | 3.0% |
| 0xff33…B02D | $102K | 2.9% |
| 0x837D…E645 | $90.2K | 2.6% |
| 0xC509…Da6B | $88.4K | 2.5% |
| 0x6dD8…986e | $76.4K | 2.2% |
| 0x55B5…7942 | $72.3K | 2.1% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Apyx apxUSD
Apyx apxUSD is a Morpho V2 vault on Ethereum, created on May 28, 2026. It takes apxUSD deposits and lends them to borrowers in 5 Morpho markets. The curator, Hyperithm, decides which markets it may use and how much can go into each.
It holds $3.48M (3.51M apxUSD) from 105 depositors and pays a net APY of 8.54% after its 8% performance fee. Over the last 30 days depositors actually earned 10.98% a year.
Its largest position is PT-apyUSD-5NOV2026 / apxUSD at 44% of its deposits, followed by PT-apxUSD-11FEB2027 / apxUSD (22%) and PT-apyUSD-11FEB2027 / apxUSD (19%). Counting every market, its loans are backed mainly by PT-apyUSD-11FEB2027 (64%) and PT-apxUSD-11FEB2027 (36%). 0% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 3 days, which gives depositors time to leave first. The owner is a 2-of-3 multisig wallet. Morpho's app shows no warnings for this vault.
Apyx apxUSD: quick answers
What is the APY of Apyx apxUSD on Ethereum?
Apyx apxUSD pays 8.54% net APY right now, after its fees. Measured from the growth of its share price, it paid 10.98% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Apyx apxUSD lend against?
It lends apxUSD through 5 Morpho markets. The biggest is PT-apyUSD-5NOV2026 / apxUSD with 44% of its deposits. Overall its loans are backed mainly by PT-apyUSD-11FEB2027 (64%) and PT-apxUSD-11FEB2027 (36%).
Can I withdraw from Apyx apxUSD right now?
About $0 of its $3.48M in deposits (0%) could be withdrawn immediately. The rest is lent out and frees up as borrowers repay or as higher rates bring in new lenders.
Who runs Apyx apxUSD and what does it charge?
Hyperithm curates it. It keeps 8% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Apyx apxUSD?
Like every Morpho vault, it can lose money if a borrower's collateral crashes faster than it can be liquidated, if a price oracle fails, or through a smart contract bug. Withdrawals can wait when its markets are fully borrowed. Adding a market or raising a cap waits behind a timelock of 3 days. This is not advice.
