{"slug":"rwa-yield-accuracy","title":"Which tokenized T-bill actually pays what it promises","subtitle":"Signed basis-point deviation between the APY each tokenized U.S. Treasury advertises and the yield the smart contract actually distributes on-chain, measured over 30 days.","category":"RWA","metric":"Yield deviation","unit":"bps","status":"live","higherIsBetter":true,"filters":null,"value":3,"leader":{"name":"SyrupUSDC","slug":"syrup-usdc","value":3},"rankings":[{"name":"SyrupUSDC","slug":"syrup-usdc","ms":{"p50":3,"p90":-7,"p99":-482,"mean":485},"successRate":100,"sampleSize":1083760000}],"sparkline":[485],"sampleSize":3105094000,"asOf":"2026-07-24T16:48:08.882Z","headline":"SyrupUSDC leads yield deviation at 0.030% (24h avg) on Which tokenized T-bill actually pays what it promises.","quote":"SyrupUSDC leads yield deviation at 0.030% (24h avg) on Which tokenized T-bill actually pays what it promises. Source: OpenChainBench (https://openchainbench.com/benchmarks/rwa-yield-accuracy).","cite":{"plain":"OpenChainBench. \"Which tokenized T-bill actually pays what it promises\". Retrieved 2026-07-24. https://openchainbench.com/benchmarks/rwa-yield-accuracy","bibtex":"@misc{ocb_rwa_yield_accuracy,\n  author = {OpenChainBench},\n  title  = {Which tokenized T-bill actually pays what it promises},\n  year   = {2026},\n  url    = {https://openchainbench.com/benchmarks/rwa-yield-accuracy},\n  note   = {Retrieved 2026-07-24}\n}","apa":"OpenChainBench. (2026). Which tokenized T-bill actually pays what it promises. Retrieved July 24, 2026, from https://openchainbench.com/benchmarks/rwa-yield-accuracy","ris":"TY  - GEN\r\nAU  - OpenChainBench\r\nTI  - Which tokenized T-bill actually pays what it promises\r\nPY  - 2026\r\nUR  - https://openchainbench.com/benchmarks/rwa-yield-accuracy\r\nY2  - 2026-07-24\r\nER  - \r\n"},"pageUrl":"https://openchainbench.com/benchmarks/rwa-yield-accuracy","ogImage":"https://openchainbench.com/api/og/rwa-yield-accuracy","source":"https://github.com/ChainBench/OpenChainBench/tree/main/harnesses/rwa-yield-accuracy","methodology":["Cohort: BUIDL (BlackRock), BENJI (Franklin Templeton), USDY (Ondo), USTB (Superstate), OUSG (Ondo). Top five tokenized U.S. Treasury and money-market funds by assets under management as of 2026-10. Fund tickers link to each issuer's official disclosure page in the provider tag.","Delivered yield: derived per issuer from on-chain events. Rebase-model tokens compare totalSupply snapshots (t=now vs t=window ago). Dividend-model tokens sum USDC Transfer events from the treasury wallet to holders across the window. NAV-model tokens compare share NAV snapshots published by the issuer (fetched via the issuer's public endpoint, cross-checked with the smart contract's own price oracle where one exists).","Promised yield: the APY the issuer publishes on its official dashboard or fund fact sheet. Sourced at least weekly from each issuer's own disclosures, with URL plus date logged in the harness config. When an issuer updates its stated APY, the change is tracked; historical values remain in Prometheus for the retention window.","Windows: headline is 30-day rolling annualized. Also emitted: 7-day rolling (for volatility) and lifetime since token inception (for the honest cross-issuer comparison unaffected by short-window distribution cycles).","Sign: delivered minus promised, in basis points. Negative means the token paid less than advertised over the window. Positive (rare) means more.","Fees: promised APY is stated net of management fees. Delivered yield is measured on the same net basis. Any residual structural deviation typically reflects distribution timing (dividend-style tokens accrue daily but pay monthly), weekend accrual conventions (T-bills yield on business days only), or measurement methodology, not accounting.","Cadence: on-chain reads every 60 seconds. Delivered-yield 30d rolling window is recomputed hourly (calculation is heavy, values move slowly). Promised-yield config file is reloaded every 60 seconds so a weekly update lands within a scrape cycle.","Multi-chain tokens: BUIDL exists on Ethereum plus five L2s, USDY on Ethereum plus Solana, Aptos, Sui. V1 measures each chain separately and aggregates for the headline weighted by supply. V2 will surface per-chain deviations for cross-chain issuers.","Reproducibility: harness source at github.com/ChainBench/OpenChainBench/tree/main/harnesses/rwa-yield-accuracy. Every delivered-yield number derives from a public RPC read (contract address, event signature, block range documented). Every promised-yield number cites its source URL and date."],"license":"CC-BY-4.0"}