Dollar yield from hedged on-chain strategies, paid in dollar-denominated tokens.
Tokenized USD yield, generated through transparent DeFi strategies.
Yields are variable and not guaranteed, and involve significant risk, including possible loss of principal.
- LiquidityDaily
- AccrualDaily
- IssuerAbraFi
Mechanism, not magic.
Where the yield comes from — in four steps.
Fund your account
Deposit USD.
Receive sUSDaf
Your dollars are exchanged for sUSDaf, issued by AbraFi, an ACM affiliate. Your account holds the tokens; AbraFi holds and deploys the underlying dollars.
Strategies deploy
AbraFi allocates across transparent DeFi strategies — basis, liquidity provisioning, looping.
Yield accrues
Yield accrues daily. Withdrawals follow the strategy's liquidity terms in your agreement.
How USDaf Generates Yield
The USD Yield Strategy, advised by ACM, provides exposure to sUSDaf, the staked form of USDaf, a synthetic dollar token issued by AbraFi on Solana. The strategy generates yield through delta-neutral Solana-based strategies including basis trading, liquid staked SOL, and liquidity provisioning with systematic hedging. Yield strategy allocation is regularly rebalanced to optimize performance and align with stringent risk management protocols.
Hover any stage or strategy to see how it works. There is no borrow leg and no LTV to monitor — the deposit itself is the working capital, deployed across strategies that run on stablecoins or are delta-hedged.
Terms at a glance.
- Structure
- Managed SMA
- Investment Advisor
- Abra Capital Management, LP (ACM)
- Qualification
- Accredited Investors or Institutional Investors
- Management Fee
- 0.00% per year on assets under management
- Fee Billing
- Calculated monthly in dollars on the average daily balance, billed in arrears and collected from reserves (USDC, then BTC, then ETH)
- Custody Fee
- None on assets held in the strategy
- Reporting
- Daily
- Liquidity
- Daily
- Subscriptions
- USDC or USD
Assessing the product
Historical performance
Average APY
| 30 Day | 90 Day | YTD | 365 Day | Since Inception | |
|---|---|---|---|---|---|
| Gross | +7.48% | +7.24% | +7.11% | +7.11% | +7.11% |
| Net (no strategy fee) | +7.48% | +7.24% | +7.11% | +7.11% | +7.11% |
Average of the monthly APYs in each period. Reporting period: through September 2026. Last updated Oct 15, 2026, 12:39 AM UTC. Tracking since May 2026.
Returns through September 30, 2026
| 1 Year | Since Inception (May 2026) | |
|---|---|---|
| Gross | Under 1 year | +2.92% |
| Net (no strategy fee) | Under 1 year | +2.92% |
Total return from the strategy's reported monthly results, chained. Since-inception figures cover less than a year and are cumulative, not annualized. The strategy has less than one year of history, so no 1-year return is shown.
This strategy charges no management fee or other ongoing fee, so net and gross figures are the same. Net figures do not deduct transaction costs, such as network fees, which depend on each client's activity. Figures are variable, not guaranteed, and not indicative of future results. See Important Performance Information for methodology and additional disclosures.
Understand the Risk
USDaf involves risk, including loss of principal.
USDaf is not a payment stablecoin and is not backed by the U.S. government. USDaf is not a bank deposit and is not insured by the FDIC, NCUA, or any other agency. Yields are variable and are not guaranteed. The underlying DeFi strategies involve significant risk — including smart-contract risk, counterparty risk, and market risk. Net returns depend on variable rates, collateral yield, swap costs, and safety buffers. Nothing here is an offer or investment advice. AbraFi, which issues USDaf and sUSDaf, is an affiliate of Abra Capital Management. ACM and its affiliates may earn fees and other compensation from AbraFi strategies, which gives ACM an incentive to recommend them. See ACM's Form ADV Part 2A.
Questions, answered.
USDaf yield comes from transparent DeFi strategies operated by AbraFi — including basis trades, providing liquidity to protocols, and looping. The mechanism is disclosed, not a black box.
No. USDaf is not a bank deposit and is not insured. Yields are variable and not guaranteed, and the strategies involve significant risk, including possible loss of principal.
USDaf offers daily liquidity. Specific terms and any applicable notice periods are provided in the product documentation before you commit funds.
USDaf is a synthetic dollar token issued by AbraFi. ACM is a separate SEC-registered investment adviser and may provide investment-management services or access to AbraFi products through applicable client investment strategies.
Learn more about USD yield
Bitcoin market cycle analysis: a framework for institutional allocators
Digital assets on the corporate balance sheet: a 2026 guide for treasurers
Crypto ETF vs SMA for advisors: which vehicle fits your practice?
Abra's digital asset investment methodology: a published framework for institutional allocators
Crypto market structure if the CLARITY Act is enacted: what would follow for allocators
How Crypto Regulation Has Evolved in 2026
Put your dollars to work.
USDaf is issued by AbraFi. Abra is a brand used by affiliated entities that provide different products and services. ACM is a separate SEC-registered investment adviser. Investments in digital assets involve a high degree of risk, including loss of principal. Registration as an investment adviser does not imply endorsement by the SEC.