YLDSEpic

89/100STRICT

Epic

#115market cap19 Oct 2026

YLDS

Stablecoin, stable asset weightsMarket-cap rank 115, CoinGecko 23 Oct 2026

Fundamentals, not price

PillarRatingPosition on the 0 to 100 scaleWeightAdds

Sustainability90

×0.2825.20

Transparency92

×0.2422.08

RevenueN/ARemoved from the mean

×0.08–

Innovation85

×0.086.80

Community88

×0.1210.56

Tokenomics87

×0.2017.40

Weighted sum 82.04 over applied weight 0.9289.17Rounds to the published score89

Analysed: 19 Oct 2026
Engine: v5.2.0
Computed: 2026-10-19 05:40 UTC
Inputs hash: 2ea04bc7b233

Pro opens YLDS in full. Change, scenario, signal, risk factors, catalysts.

See plans

Research, not financial advice. Read the terms.

Pillar evidence

Input set 19 Oct 2026. 9 sources, 11 citations.

Sustainability90
Transparency92
RevenueN/A
Innovation85
Community88
Tokenomics87

Each arc is one pillar rating, drawn to scale from 0 to 100.A dashed arc is a pillar that does not apply. It is removed from the mean.

Sustainability90

Can this project keep operating and funding itself for years?

YLDS is issued by Figure Certificate Company as an SEC-registered face-amount certificate backed 100% by short-term US Treasuries and overnight repurchase agreements. As of October 19, 2026, 506.9 million YLDS circulate near a $0.9993 peg.1 2

Transparency92

Can outsiders see and check what the team and the protocol do?

SEC registration under the Investment Company Act of 1940 requires audited financial disclosures, statutory reserve reporting, and verified holder registries on Provenance and Solana.2 3 4

RevenueN/A

Does the protocol earn real fees or income from use?

Not applicable. Weight 0.08 in the stable asset profile, so it neither lifts nor lowers the score.

Innovation85

Is the technology being built and shipped, and does it matter?

YLDS combines an SEC-registered debt certificate wrapper with daily accruing SOFR-minus-35-bps yield and peer-to-peer transferability across Provenance, Solana, and Stellar.5 6

Community88

Who uses, builds and holds it, and how durable is that base?

Institutional adoption includes a $25 million strategic allocation from Ondo Finance for OUSG backing, May 2026 Stellar expansion, and June 2026 qualified custody support from BitGo Bank and Trust.7 8

Tokenomics87

Do supply, issuance and unlocks protect holders from dilution?

Direct 1:1 par issuance and redemption against USD and Treasury reserves keeps circulating and total supply matched at 506.9 million YLDS with zero unlock dilution.9 1

Sources

About YLDS

Analysis of 19 Oct 2026

YLDS is an SEC-registered, yield-bearing digital dollar certificate issued by Figure Certificate Company. Registered under the Investment Company Act of 1940, the asset operates as a transferable face-amount certificate rather than an unregistered payment stablecoin.

Full overviewShow less

Reserves consist of short-term US Treasury securities and overnight Treasury repurchase agreements with full par backing plus statutory excess reserves. Holders earn daily accruing interest equal to the Secured Overnight Financing Rate minus 35 basis points, paid monthly.

Originally deployed on the Provenance blockchain and Solana, YLDS expanded to the Stellar network in May 2026 and added BitGo qualified custody in June 2026. Ondo Finance also holds a $25 million YLDS allocation within its OUSG tokenized Treasury fund.

Strengths

SEC registration under the Investment Company Act of 1940 provides a regulated securities wrapper for on-chain dollar yield
Full backing by short-term US Treasuries and overnight repo supports a tight $0.9993 peg across 506.9 million circulating tokens
Daily yield accrual at SOFR minus 35 basis points passes money-market rates directly to verified certificate holders
June 2026 integration with BitGo Bank and Trust enables OCC-regulated qualified custody for institutional treasury allocators
May 2026 Stellar network deployment joins Provenance and Solana to serve cross-border fintech and neobank savings workflows
Ondo Finance $25 million strategic investment for OUSG reserves validates institutional demand from tokenized fund managers

Risks

Figure Certificate Company relies on securities-law exemption claims as GENIUS Act and CLARITY Act stablecoin yield rules take effect
Mandatory KYC onboarding restricts unverified wallet transfers and limits adoption across permissionless DeFi liquidity pools
Issuer counterparty obligations are concentrated in Figure Certificate Company despite SEC reporting and third-party custody controls
Variable yield tied to SOFR minus 35 basis points compresses during Federal Reserve rate-cutting cycles
With a $506.6 million market cap and $1.33 million daily volume in October 2026, secondary liquidity trails USDC, USDT, and BUIDL

Competitive position

With a $506.6 million market capitalization at rank #114 in October 2026, YLDS occupies a specialized regulatory niche between payment stablecoins and tokenized Treasury funds. Dominant stablecoins USDC and USDT command vastly deeper exchange liquidity but do not distribute native Treasury yield to holders.

Full positionShow less

Institutional funds such as BlackRock BUIDL and Ondo OUSG offer comparable money-market yields but target high-minimum accredited allocators rather than retail wallets. YLDS differentiates through its SEC-registered face-amount certificate wrapper, low minimum denominations, BitGo qualified custody, and multi-chain distribution across Provenance, Solana, and Stellar.

Conclusion

As of October 2026, YLDS maintains a $0.9993 peg across 506.9 million circulating tokens backed by US Treasuries and overnight repo. Its SEC-registered face-amount certificate structure, SOFR-minus-35-bps daily yield, and June 2026 BitGo custody integration support an institutional compliance profile.

Full conclusionShow less

Deployments across Provenance, Solana, and Stellar alongside the $25 million Ondo OUSG allocation broaden its distribution footprint. Mandatory KYC friction and evolving GENIUS Act and OCC supervisory rules remain the primary constraints on wider DeFi adoption.

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