> For the complete documentation index, see [llms.txt](https://docs.apyx.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.apyx.fi/product-overview/aptusd.md). # aptUSD Crypto investors & traders often hold stablecoins while waiting for the next opportunity to deploy capital. But earning yield on that capital has traditionally meant putting it to work across DeFi protocols, lending markets, exchanges, or other strategies that introduce additional platform, counterparty, and smart contract risk. aptUSD offers a simpler alternative: **liquid, zero-fee access to tokenized U.S. Treasury yield.** Backed by a basket of U.S. Treasury bills and cash equivalents, aptUSD is designed for crypto-native investors and traders who want their dollars earning while they wait for their next trade, investment, or opportunity. There are no staking fees, no unstaking fees, and no unlock period. Hold aptUSD while you’re on the sidelines, earn a predictable payout, and exit when you’re ready to deploy. ### How aptUSD Works alqUSD is the underlying, non-yield-bearing dollar and is designed to maintain a value of $1.00. Through the [Apyx Swap tool](https://app.apyx.fi/swap), users can swap from USDC to alqUSD to aptUSD in one click to begin earning yield. As Treasury yield accrues, the exchange rate of aptUSD steadily increases relative to alqUSD. Each aptUSD becomes worth more alqUSD over time. When you want to exit, swap from aptUSD back into USDC, passing through alqUSD with zero fees and zero cooldown. ### Key Information * Backing: U.S. Treasury bills and cash equivalents * Target Payout Rate: Lower bound of the Federal Funds Rate, currently 3.5% * Yield Accrual: Non-rebasing, reflected through an increasing exchange rate * Liquidity: No unlock or cooldown period * Fees: Zero staking or unstaking fees * Underlying Asset: alqUSD * Network(s): Currently Ethereum, Solana coming soon. ### Predictable Yield, Regardless of Supply aptUSD’s payout rate does not fluctuate based on how much aptUSD is in circulation. Whether aptUSD has $1 million or $1 billion in supply, holders receive the same protocol-set payout rate. The result is a simple onchain yield product built around liquidity, predictability, and tokenized U.S. Treasury yield. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.apyx.fi/product-overview/aptusd.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.