> 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 Your dry powder shouldn’t have to sit idle. 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. The swap settles immediately with no protocol fee. Standard DEX pool fees apply. ### 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. Swaps pay standard DEX pool 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 by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` 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 what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. 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.