Insights
The largest of the 326 XRP Ledger pools holding Ripple’s RLUSD, refreshed hourly. APY is the last 7 days of fees as a share of the pool, times 52. A pool of RLUSD and XRP moves with XRP’s price; RLUSD against another dollar token barely moves, and usually earns little.
RLUSD markets holding over $1 million, from DeFiLlama’s yields API, refreshed hourly. The first rate is what borrowers or traders pay; the second is a bonus in the project’s own token, which lasts only as long as the project pays it.
RLUSD Yield Rates Compared
RLUSD earns nothing just by sitting in a wallet. On the XRP Ledger it earns a share of trading fees in AMM pools; on Ethereum it is lent out or pooled. The largest XRP Ledger pool, XRP/RLUSD, paid 4.3% a year at last week’s pace. Live rates from both, and what each one risks.
On the XRP Ledger: AMM pools
| Pool | Size | Providers | Fee | APY, 7 days |
|---|---|---|---|---|
  XRP/RLUSD | $4.8M | 1,204 | 0.20% | 4.3% |
 WLBN/RLUSD | $66.2K | 2 | 0.50% | 13% |
 RLUSD/USDC | $50.1K | 13 | 0.14% | 0.00% |
 XAH/RLUSD | $7.5K | 17 | 0.95% | 15% |
 WBC/RLUSD | $2.9K | 3 | 1.00% | 1.6% |
 RLIDR/RLUSD | $2.6K | 83 | 0.30% | 1.2% |
 EVR/RLUSD | $2.3K | 38 | 0.71% | 9.1% |
 XPM/RLUSD | $2.2K | 40 | 0.99% | 3.6% |
Elsewhere: lending markets and pools
| Where | Market | Deposits | Interest or fees | Paid in other tokens |
|---|---|---|---|---|
| Morpho · Ethereum | SENRLUSDV2 | $447.6M | 3.2% | 2.8% |
| Morpho · Ethereum | SXSRLUSD | $250.1M | 0.18% | — |
| Aave · Ethereum | RLUSD | $67.2M | 1.7% | 3.3% |
| Uniswap v4 · Ethereum | RLUSD-USDS | $50.0M | 0.01% | — |
| Curve · Ethereum | USDC-RLUSD | $48.0M | 0.01% | 4.3% |
| TermMax · Ethereum | RLUSD | $20.7M | 0.03% | — |
| SparkLend · Ethereum | RLUSD | $15.1M | 1.7% | — |
| Convex · Ethereum | USDC-RLUSD | $13.3M | 0.01% | 0.00% |
What each rate risks
- XRP Ledger pools: no contract to break, since the pool is part of the ledger, but impermanent loss whenever the other asset moves against the dollar (how much).
- Ethereum lending: no impermanent loss, but the risk of the lending contract and of borrowers’ collateral, and Ethereum network fees on every deposit and withdrawal.
- Bonus rates paid in a project’s own token fall with that token’s price and stop when the programme ends.
- Everywhere: RLUSD’s issuer can freeze or claw back RLUSD, as regulated stablecoins usually can.
Questions
- Can you earn yield on RLUSD?
- Yes, but not by holding it. On the XRP Ledger RLUSD earns a share of trading fees in AMM pools; on Ethereum it earns interest in lending markets such as Aave and Morpho, or fees in pools such as Curve.
- What is the APY for RLUSD on the XRP Ledger?
- The XRP/RLUSD pool, the largest, paid 4.3% a year at last week’s pace. It changes every week with trading.
- Can you stake RLUSD?
- No. Neither RLUSD nor XRP can be staked; the XRP Ledger has no staking. Anything offered as RLUSD staking is lending or a pool under another name.