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Fixed income · on-chain

The fixed income
hub for on-chain
markets.

Evaluate on-chain fixed-income markets using one clear standard for yield, risk, liquidity and duration.
All on-chain. All in one place.

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Observed APY

4.06%
Exactly · USDC
Dated rate inputNot a promised return

Duration

31.8d
To maturity
Exact dated exposureTime changes the economics

Reported liquidity

$1.61m
Snapshot field
Observed market depthNot executable depth at size

Evidence support

90/100
Quality A
Strength of inputsEvidence, not a guarantee

Markets represented in the research universe Coverage, not partnerships

Exactly Pendle Spectra TermMax Term Finance

Standardized framework

One standard for
on-chain fixed income.

Fenorium normalizes yield, risk, liquidity, duration and structure across every on-chain fixed-income market.
Different by design. Comparable by default.

See how it works
Yield Duration Liquidity Structure Risk

Compare yield and risk on the same scale.

A unified reading order turns complexity into clarity.

Quality tier + evidenceFenorium Score: preview values · not a live metric
23 AUG 2026DATED RESEARCH SNAPSHOT · NOT A LIVE QUOTE
Five instruments selected from the Fenorium research curve generated 23 August 2026. Observations are not live quotes. Fenorium publishes no validated composite Fenorium Score; the values in that column are interface preview values, not calculated market data.
AssetObserved APYDurationReported liquidityStructureQualityFenorium score
USDC · Sep 2026Exactly·OP Mainnet4.06%Observed rate31.8d1–3M tenor$1.61mReportedFixed-term lendingAEvidence 90—Not published
PT-sUSDai · Oct 2026Pendle·Arbitrum9.95%Observed rate52.8d1–3M tenor$11.93mReportedPrincipal tokenCEvidence 70—Not published
RLUSD / USPC · Oct 2026TermMax·Ethereum2.98%Observed rate62.9d1–3M tenor—Not reportedFixed maturityAEvidence 78—Not published
PT-stakeTHENA · Oct 2027Spectra·BSC46.28%Flagged observation421.8d1Y+ tenor$28.7kReported · limitedPrincipal tokenCEvidence 12—Not published
USDC / PT-reUSD · Aug 2026Term Finance·Ethereum6.50%Observed rate4.5d<1M tenor—Not reportedTerm auctionAEvidence 74—Not published
One standardNormalize every represented instrument across supported dimensions.
Many marketsAccess a growing universe of on-chain fixed income.
Explicit evidenceCompare with the available inputs and uncertainty visible.

Headline yield
isn’t enough.

Two rates can look nearly identical while duration, liquidity and the strength of the available evidence point to very different exposures.

Compare these observations
Similar observed APY. Different market evidence.23 AUG 2026 · RESEARCH SNAPSHOT
USDC / PT-reUSD · Aug 2026Term Finance·Term auction·Ethereum
OBSERVED APY6.50%
Duration
4.5d
Liquidity
Unavailable
Quality
A
Evidence
74 / 100
PT-USDai · Oct 2026Pendle·Principal token·Arbitrum
OBSERVED APY6.77%
Duration
52.8d
Liquidity
$50.28m
Quality
C
Evidence
45 / 100

Values are dated research observations, not live quotes, promises or executed fills.

Methodology & trust

Know where every
number comes from.

Rigor stays available without turning the homepage into documentation.

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Methodology

See how each metric is calculated and which assumptions it carries.

Explicit uncertainty

Missing or insufficient market evidence remains missing.

Provenance

Trace the inputs and integrity evidence behind the result.

Provenance can establish integrity. It does not prove objective truth.

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fixed-income market.

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