Under active development. We're continuously fixing and improving the metrics and parameters, so scores and ratings may change. See changelog

RWABeat

Circle USYC

Tokenized shares of Hashnote International Short Duration Yield Fund, a Cayman fund that earns roughly the overnight Fed funds rate through reverse repo on US government securities and T-bills. Issued by Circle International Bermuda since Circle bought Hashnote in January 2025. About 98% of supply is on BNB Chain.

U.S. TreasuriesNon-US persons onlyTransfer-restrictedOnchain dataIssued by Hashnote Management LLC · Platform Hashnote (Circle)
JSON
Value
$2.37B
Stage
Stage 0
Disclosed
Single-key powers
37
Single key holds critical power
Oracle age
19h 45m
On schedule
Used as DeFi collateral
$115.89· 2 markets

Pricing

Is the onchain price right, fresh, and hard to manipulate?

Red

A single key types in the onchain price (manual pricing).

  1. A single key types in the onchain price (manual pricing).

  2. The NAV comes from the issuer, with no independent check.

  3. Updates every 24h, fast enough for a T-bill or money market fund.

  4. Consumers can tell how old the price is.

  5. Write-downs show up at the next NAV.

Staleness visible to consumers
Yes
Write-downs reach the price
At the next NAV strike

Onchain price reference

Current value
$1.14
Price model
Accumulating NAV
Provider
Hashnote (Circle)
Feed contract
Ethereum0x74f2…1f53
Who writes it
A single key (EOA)
Data comes from
Issuer (self-reported)
Expected cadence
Every 24h
History onchain
Yes

Oracle age

How long since the last onchain update, against the expected cadence.

19h 45mOn schedule
024h3d stale4d+

Last update 28 Oct 2026, 12:50 UTC. Snapshot taken 29 Oct 2026, 08:36 UTC.

How DeFi markets price USYC

A lending market that hardcodes $1 won't notice if the NAV drops.

MarketOraclePricing method
Morpho · USYC / PYUSD0x3A2a…1edaUses feed 0x4c48…8b3e, not the issuer NAV feed.
Aave · Aave Horizon · USYC0xE8E6…beB9Uses price source 0xE8E6…beB9, not the issuer NAV feed; needs review.