Author: fiona.stand, Growth@StandX

On the day the Dow Jones Industrial Average hit 50,000 points, Nvidia’s market value broke through 5.7 trillion, and the Nasdaq hit a new high. Wall Street seems to have rediscovered the money printing machine. At the same time, Bitcoin failed to break through $82,000 for the fourth time and fell below $80,000. The US stock market is partying, while the crypto market is bottoming out.

In the past few years, crypto users have been spoiled by two things: one is 30% APR, but when you click in, you find that it’s all governance token emissions, and the coin price has fallen by 90% before the income even arrives; the other is 3% stablecoin yield, which is safe, but like a glass of warm water handed out by a bank teller—not bad, but not very interesting. In 2026, most mainstream stablecoin yields will be squeezed into a narrow range of 3-4%. Coinbase at 3.35%, Aave at 3.31%, Ethena at 3.60%, everyone is queuing under the same interest rate ceiling.

So when I first saw DUSD displaying approximately 8.46% APR, and the yield was settled in DUSD and not subsidized by tokens, my reaction was probably the same as yours—is this number real? After joining StandX, I decided to verify it in the dumbest but most honest way: by testing it with my own money. $10,000, two accounts, a set of Bitcoin long-short hedging positions, not betting on direction, not chasing hot spots, just to see if DUSD can really generate money on its own. 8 days later, the answer came out.

Actual test results: $10,000 principal, 8 days, made $17 with zero directional risk. Last week, I created two accounts on StandX, each depositing 5,000 DUSD, and hedged against each other through StandX’s unique Block Trade function (one long, one short). Net directional risk is zero—Bitcoin’s rise and fall has nothing to do with me. Summary of current account status (total of two accounts):

💰 DUSD Yield (Base + SIP-3): $13.47 ($6.81 + $6.66)
💰 Position Yield (SIP-2): $3.44 ($1.72 × 2)
📊 Total Yield: $16.91, annualized approximately 7.8%
🎯 Trading Points: 380+ points
⚡ Directional Risk: Zero
🔥 Impermanent Loss: Zero

APY Stack displays 8.46% in real time, and the yield is still growing every day. 📌 Note: The total yield of $16.91 converted to an annualized rate of approximately 7.8% is different from the 8.46% displayed by APY Stack. This is because 7.8% is the historical average for the 8 days from May 7th to 15th, while 8.46% is today’s real-time snapshot—the increase in platform trading volume in recent days has driven the growth of fee income, so the current APY is higher than the average of the past 8 days. As time goes on, the two will tend to converge.

Yield Breakdown ── Where Does the 8.46% APY Come From?

First layer: DUSD Base — 1.27%. The basic yield that all DUSD holders can obtain, the source is Funding Rate (similar strategy to Ethena’s USDe).

Second layer: SIP-2 position yield acceleration — 2.27%. This is a unique mechanism of StandX. Many people’s first reaction is “isn’t this just a subsidy?”—it’s not. There is a carefully designed flywheel logic behind SIP-2: you open a position → platform liquidity increases → trading volume increases → fee increases → SIP-2 yield increases → attracts more people to open positions. The essence of SIP-2 is Protocol Revenue Sharing: the platform returns real transaction fees to users who provide liquidity for it, which is the same logical framework as Hyperliquid’s fee distribution. 💡 Leverage = Yield Amplifier: 2x leverage corresponds to 2x boost—you use 1,000 DUSD to open a 2x position, and bear the risk exposure of 2,000 DUSD, and the yield is calculated based on the risk exposure rather than the principal. The greater the risk, the higher the return. Logically fair, the bigger the storm, the more expensive the fish.

Third layer: SIP-3 universal fee distribution — 4.92%. This is currently the largest source of income, and also the layer with the largest pattern. A portion of the transaction fees generated by StandX is directly distributed to every DUSD holder—regardless of whether you have a position, whether you have traded, or even whether you have logged into the platform. As long as you have DUSD in your wallet, you will automatically get a share of this pie. A real sunshine award. Key: All three layers of income are settled in DUSD (US dollar stablecoin), and every penny you earn is real U, without any inflated governance token incentives.

In a world with a yield of 3%, why is 8% sustainable? A horizontal comparison will tell you. After the Federal Reserve cut interest rates three times in a row at the end of 2025, the federal funds rate fell to 3.50–3.75%, and the “safe yield” ceiling for the entire market was lowered accordingly. From Aave’s 3.31% to Ethena’s 3.60%, all mainstream stablecoin yield products are squeezed into an extremely narrow range. DUSD’s 8.46% is more than 2 times theirs.

Moreover, this yield is sustainable, not cyclical. Most yield-bearing stablecoins (including Ethena sUSDe) are highly dependent on funding rates—bull markets look good, but bear markets are compressed. DUSD is different: more than 7% of the 8.46% comes from transaction fees (SIP-2 + SIP-3), which has nothing to do with the market direction. As long as there are transactions, there will be fee income, and there will be yield. The introduction of SIP-3 is a structural upgrade that spans bull and bear markets—it turns DUSD from “relying solely on funding rates” to “dual-engine driven by fees + funding rates.” This is unique among all yield-bearing stablecoins.

Just 3 steps to replicate my strategy with zero impermanent loss. The whole process takes less than five minutes. You need two wallets, 5,000 USDT each, and a small amount of BNB for Gas.

1. Get DUSD and deposit it into Perps Wallet. Log in to standx.com $DUSD page with two wallets, select Swap (get a few dollars more than Mint), and exchange 5,000 USDT for approximately 5,002 DUSD. Pay attention to the prompt at the bottom of the page, our system will kindly tell you that the DEX quote is better.

2. Account A creates a Block Trade long position. PERPS Block Trade + Open Block select BTC-USD, CROSS · 2X, Limit price, FullMatch click LONG PUBLISH ONCHAIN. After publishing, copy and share the link to another wallet.

3. Account B accepts the Block Trade short position. Switch to Wallet B, find Block Trade, change the leverage to CROSS · 2X (the default may be 10X), click JOIN SHORT Confirm Publish Onchain. Done! The two accounts are perfectly hedged, -$12.20 on the left and +$12.19 on the right, with a net PnL of almost $0.