pledge
Apyx apyUSD
apyUSD is the Apyx yield wrapper, not the base dollar itself.
APYUSD vs the other dollar products.
The research angle.
apyUSD is exactly the kind of product the Digital Credit page should explain: a yield wrapper that looks stable at first glance but must be read through wrapper, source, exit, and proof.
Same score, different shape.
Each spoke is one of the eight factors behind Apyx apyUSD's 5.2/10, plotted 0–10 and ordered by methodology weight. The filled shape is the product's risk profile. Two products can share an overall score and still have opposite silhouettes — a balanced octagon is a very different risk than a spike on one axis with thin edges everywhere else. Apyx apyUSD is strongest on yield source (8.2/10) and thinnest on mint / redemption path (4/10).
The 8-factor breakdown.
Apyx docs describe apyUSD as the savings token layered on top of apxUSD. Yield comes from the protocol collateral stack, which is centered on DAT preferred equity and dividend flows.
Apyx describes redemptions as asynchronous: request, roughly 30-day cooldown, then claim. Users do not receive yield during cooldown under the current docs.
apyUSD is not meant to be read as the base stable dollar. It is a vault receipt whose value depends on the apxUSD exchange rate, vault mechanics, and withdrawal process.
Apyx says apyUSD yield is sourced from dividends and distributed through exchange-rate appreciation. Rates may vary with market conditions and protocol parameters.
Overall score = 5.19 under the Bitcoin-holder Digital Credit standard. apyUSD gets credit for clear ERC-4626 wrapper docs and a legible dividend source, but the 30-day-style asynchronous redemption flow, wrapper complexity, jurisdiction limits, and offchain collateral stack keep it below direct listed-market instruments.
Overall score = 5.19 under the Bitcoin-holder Digital Credit standard. apyUSD gets credit for clear ERC-4626 wrapper docs and a legible dividend source, but the 30-day-style asynchronous redemption flow, wrapper complexity, jurisdiction limits, and offchain collateral stack keep it below direct listed-market instruments.
Overall score = 5.19 under the Bitcoin-holder Digital Credit standard. apyUSD gets credit for clear ERC-4626 wrapper docs and a legible dividend source, but the 30-day-style asynchronous redemption flow, wrapper complexity, jurisdiction limits, and offchain collateral stack keep it below direct listed-market instruments.
Overall score = 5.19 under the Bitcoin-holder Digital Credit standard. apyUSD gets credit for clear ERC-4626 wrapper docs and a legible dividend source, but the 30-day-style asynchronous redemption flow, wrapper complexity, jurisdiction limits, and offchain collateral stack keep it below direct listed-market instruments.
The receipts.
Every figure on Apyx apyUSD traces to a primary document. These are the ones we read — open any of them.