Yield-Bearing & RWA Assets
Yield-bearing & RWA token prices
Yield-bearing stablecoins plus tokenized treasuries are the fastest growing collateral class in DeFi and the thinnest covered at feed grade. ML Data prices 37 pairs across 11 of these assets from on-chain DEX liquidity: sUSDe, sDAI, syrupUSDC, THBILL, ONYC included.
Why this category is the coverage gap
A tokenized treasury barely trades on centralized exchanges. A yield-bearing stablecoin accrues value block by block. Neither fits a CEX-first benchmark methodology, so at feed grade these assets often go unpriced. For assets like THBILL, ONYC plus PSTUSDC, feed-grade coverage remains scarce across the market.
Meanwhile these are precisely the assets moving into collateral lists, structured products plus fund NAVs. The teams that hold them need marks an auditor will accept. That is the gap this catalog section exists to close.
Coverage
Yield-bearing & RWA FAQ
What is a yield-bearing token price?
Yield-bearing tokens like sUSDe or sDAI accrue value over time, so their fair price drifts upward by design. The market rate can trade above or below that accrual line depending on liquidity plus redemption expectations. ML Data prices the market rate from the on-chain pools where these tokens trade.
How are tokenized treasuries priced?
A tokenized treasury such as THBILL or ONYC represents claims on short-term government debt, but it trades as an on-chain token with its own liquidity. At feed grade these assets are thinly covered. ML Data computes their market rate from active DEX pools, the same methodology used across the catalog.
Why does RWA pricing matter now?
Tokenized money market funds plus treasury products are moving on-chain. Every protocol that lists them as collateral needs a defensible mark. The gap between a displayed ticker and a feed-grade market rate is widest exactly in this category.