> For the complete documentation index, see [llms.txt](https://docs.noon.capital/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.noon.capital/3.-the-yield-engine/past-returns.md).

# Past Returns

<figure><img src="https://3816918787-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FL26rQzcNmiUZrCXkxkjS%2Fuploads%2FO1YR2ajy12wZ2awr2faM%2Fimage.png?alt=media&amp;token=f7e98e68-5aa6-43e2-9fd8-5316a0723804" alt=""><figcaption></figcaption></figure>

<mark style="color:violet;">**$sUSN**</mark> generates yield through delta-neutral strategies across funding rates, fixed income, and market-neutral deployments. This page tracks how those strategies have performed over time.

All figures represent realized APY paid to <mark style="color:violet;">**$sUSN**</mark> holders, sourced from on-chain reward distributions. You can verify every distribution on **Accountable** or directly on-chain.

## <mark style="color:$primary;">Current APY</mark>

| Metric                  | Value       |
| ----------------------- | ----------- |
| Current APY (7-day avg) | 8.54%       |
| Last updated            | Sep 7, 2026 |

## <mark style="color:$primary;">Monthly returns</mark>

| Month          | APY     |
| -------------- | ------- |
| Sep 2026 (MTD) | \~8.5%  |
| Aug 2026       | \~7.3%  |
| Jul 2026       | \~8.9%  |
| Jun 2026       | \~9.8%  |
| May 2026       | \~11.5% |
| Apr 2026       | \~12.1% |
| Mar 2026       | \~10.6% |

## <mark style="color:$primary;">Annual returns</mark>

| Year       | APY    |
| ---------- | ------ |
| 2026 (YTD) | 8.81%  |
| 2025       | 10.57% |

## <mark style="color:$primary;">Since inception</mark>

| Metric                  | Value          |
| ----------------------- | -------------- |
| Since inception APY     | 11.24%         |
| Inception date          | 24 October '24 |
| Total yield distributed | $3.1M          |

## <mark style="color:$primary;">How</mark> <mark style="color:violet;">**$sUSN**</mark> <mark style="color:$primary;">compares</mark>

<mark style="color:violet;">**$sUSN**</mark> has led the major yield-bearing stablecoin set across every two-month window since March 2026, with averages ranging from 8.54% to 11.73% while the closest competitor averaged between 7.03% and 8.57%.&#x20;

Comparison data is sourced from each platform's official app.

Yields vary with market conditions. Funding rates expand and compress, and the protocol rotates capital toward whichever strategies offer the best risk-adjusted return at the time.

{% hint style="info" %}
A lower month reflects the market environment, not a change in how the protocol operates.
{% endhint %}

Returns shown are net of all fees. What you see here is what holders received.