Top Yield-Bearing Stablecoins in 2024: The Ultimate List for Maximizing DeFi Passive Income

Chasing yield in DeFi is no longer just for the wild-eyed risk takers. In 2024, yield-bearing stablecoins have exploded into the mainstream, offering crypto investors a way to earn real passive income without riding the rollercoaster of volatile tokens. Forget staking meme coins or chasing fleeting DEX rewards – these stablecoins are engineered for those who want to earn yield while keeping their capital (mostly) steady.

With market capitalization of yield-bearing stables surging past $11 billion by mid-2025 and analysts predicting they could soon capture half the entire stablecoin market, it’s clear: yield is king, and everyone wants a piece. But not all yield-bearing stablecoins are created equal. Some are battle-tested blue chips; others are fresh experiments pushing the boundaries between TradFi and DeFi.

The Seven Titans: Top Yield-Bearing Stablecoins in 2024

Let’s cut through the noise. Here’s my curated list of the top 7 yield-bearing stablecoins dominating DeFi this year – each with its own flavor of risk, reward, and innovation:

Top 7 Yield-Bearing Stablecoins for DeFi Passive Income

1. 

   sDAI (Savings DAI): MakerDAO’s turbocharged DAI—lock DAI, earn yield, and watch your balance grow, all while staying fully decentralized. APY as of September 2025: ~3.25%.

2. 

   USDe (Ethena USDe): Ethena Labs’ synthetic stablecoin, powered by staked ETH and clever hedging. Stake for sUSDe and tap into some of DeFi’s juiciest yields—~5% APY in late 2025.

3. 

   OUSD (Origin Dollar): Origin Protocol’s auto-yielding stablecoin—just hold OUSD in your wallet and watch your balance increase from integrated DeFi strategies. Effortless, hands-free earning.

4. 

   USDY (Ondo Finance USDY): Ondo’s real-world asset-backed stablecoin, paying out ~4.25% APY from U.S. Treasuries and investment-grade bonds. TradFi meets DeFi for reliable passive income.

5. 

   aUSDC (Aave Interest-Bearing USDC): Deposit USDC into Aave, receive aUSDC, and earn variable yields from DeFi’s most trusted lending protocol. Deep liquidity, proven track record.

6. 

   USD0++ (Usual USD0++): Usual’s next-gen stablecoin, backed by tokenized U.S. Treasuries and designed for yield. Earn passive income with institutional-grade security and transparency.

7. 

   crvUSD (Curve crvUSD): Curve’s flagship stablecoin, engineered for stability and yield. Earn rewards by providing liquidity or holding crvUSD in the Curve ecosystem.

sDAI and USDe: The New Standard for Passive Income?

sDAI (Savings DAI): The OG of on-chain savings accounts. Deposit your DAI into MakerDAO’s DSR contract via Spark Protocol and get sDAI in return – your balance quietly grows every day as interest accrues automatically. In September 2025, sDAI was clocking in at a 3.25% APY. No lockups, no nonsense – just pure programmable yield.

USDe (Ethena Labs): If you like your stablecoin with an extra shot of complexity and edge, meet USDe. This synthetic dollar is backed by staked ETH plus short perp futures for delta-neutral exposure. Stake it to mint sUSDe and you’re looking at yields around 5%. It’s high-tech financial engineering that actually delivers on-chain returns – but remember: with great innovation comes unique risks.

The Middleweights: OUSD, USDY and aUSDC

OUSD (Origin Dollar): Origin’s OUSD is designed for set-and-forget users who want exposure to multiple DeFi strategies under one hood. Your OUSD balance increases automatically as it earns from lending protocols like Aave, Compound, and Curve – no manual compounding required. It’s like having an army of bots farming yields for you while you sleep.

USDY (Ondo Finance USDY): Want TradFi-grade safety in your DeFi stack? Ondo’s USDY is backed by tokenized U. S. Treasuries and investment-grade bonds – think of it as BlackRock but on-chain. Yields hover around 4.25% APY, paid monthly in true Wall Street fashion.

aUSDC (Aave Interest-Bearing USDC): The workhorse of DeFi lending markets. Deposit your USDC into Aave to mint aUSDC; your balance grows as borrowers pay interest back to the pool. Yields can swing depending on market demand but expect deep liquidity and near-instant redemption across dozens of protocols.

The RWA Revolution: USD0 and and and crvUSD Join the Party

You’ve heard the buzz about Real World Assets (RWAs) bridging TradFi yields into crypto? Enter USD0 and and by Usual Protocol. This stablecoin channels U. S Treasury bond yields straight onto Ethereum – potentially safer than most algorithmic models if you trust RWAs’ legal plumbing.

The dark horse? crvUSD from Curve Finance: an overcollateralized lending-backed stable that auto-adjusts collateral ratios using their LLAMA mechanism for stability during wild market swings.

But don’t let the TradFi suits fool you, DeFi’s still got teeth. crvUSD’s unique approach to stability and yield is a direct answer to the market’s demand for transparency and resilience. Its LLAMA (Lending-Liquidation AMM Algorithm) system keeps crvUSD solvent and nimble, even when volatility spikes. While yields on crvUSD are dynamic, savvy users can leverage Curve’s deep liquidity pools and gauge rewards for an extra kick to their passive income stream.

USD0 and and (Usual Protocol) is another rising contender in the RWA yield wars. By tokenizing U. S. Treasuries and plugging directly into Ethereum, USD0 and and offers a regulatory-compliant stablecoin with real-world yield, no smoke, no mirrors. For those who want yield without the drama of algorithmic stables, USD0 and and is a solid bet for 2024’s DeFi portfolio.

How Do They Stack Up? Stablecoin APY Showdown

Let’s get tactical. When comparing these seven titans side by side, it’s clear that no single stablecoin dominates every metric. sDAI wins on simplicity and decentralization; USDe leads in raw yield (with extra risk baked in); OUSD automates diversification; USDY and USD0 and and bring TradFi stability into the mix; aUSDC delivers flexibility across DeFi; crvUSD adapts to market turbulence like a pro.

The real alpha? Diversification. A balanced basket of these assets lets you harvest yield from multiple sources while smoothing out protocol-specific risks. For the boldest among us, pairing high-yielders like USDe with safer bets like sDAI or USDY can turbocharge returns without putting your entire stack on the chopping block.

Risks and Opportunities: What Every Yield Hunter Needs to Know

Yield-bearing stablecoins aren’t magic money machines, they’re complex DeFi instruments with real risks:

• Smart contract exploits: Even blue-chip protocols aren’t immune to bugs or hacks.
• Collateral risk: Synthetic models (like USDe) can unravel during black swan events if hedges fail.
• Regulatory uncertainty: RWAs (like USDY or USD0 and and ) depend on robust legal frameworks, watch for shifting government policies.
• Market risk: Lending rates fluctuate wildly when demand dries up (see aUSDC).

The antidote? Stay nimble. Monitor protocol health dashboards, diversify your holdings, and never chase APY blindly without understanding how it’s generated. For deeper dives into risk management strategies for these stables, check out this comprehensive guide: Top Yield-Bearing Stablecoins in 2024: Current APYs, Risks and How To Maximize Your Earnings.

The Final Word: Fortune Favors the Prepared

If you’re just parking dollars on-chain in plain old USDC or DAI in 2024… what are you doing? The passive income revolution is here, and it pays to be early. Whether you lean into decentralized classics like sDAI or experiment with cutting-edge synths like USDe and RWA-backed upstarts like USD0 and and, the opportunities have never been richer, or more nuanced.

I’ll keep saying it: Diversify ruthlessly. Monitor yields relentlessly. Question everything. The only thing riskier than chasing high APY is not understanding where it comes from, or what could break it overnight.

Buckle up, yield season isn’t slowing down anytime soon.