Tool
RWA Yield Reality Check
Catch a Ponzi-style yield before it catches you.
Why high yield is a red flag
A 20% APY isn't magic. The dollars have to come from somewhere. Real yield comes from real revenue (interest, rent, fees, trading spreads). Fake yield comes from the protocol printing its own token and handing it to you.
Anchor on UST paid 20% on a tokenized stablecoin while the risk-free rate was 1%. The math said "impossible," but it kept running until new deposits stopped covering payouts. Then it broke in days. This tool strips out token emissions and inflation, compares your real yield to the natural rate for that asset class, and grades whether the premium looks fair, elevated, or suspicious.
The project
Two questions about the headline number, three about what it looks like underneath.
The headline yield the project advertises.
Sets the natural-yield baseline. Each asset class has its own “boring” rate the project is paying you to beat.
Best estimate: what % of the headline yield comes from the protocol's own token, not real revenue. Check the docs. If it's not obvious, that's a finding in itself.
What share the protocol skims before yield reaches you. Most RWA platforms take 10-30%. T-bill wrappers often take 50 bps (~0.5%). Read the fee schedule.
Used to convert nominal yield into real yield. Default 3% matches recent US CPI. Use your local CPI if your money lives somewhere else.