Available Yield Sources
Last Updated: July 10th, 2026
A Yield Source is an underlying type of RWA and DeFi yield generation strategy available through Sierra. All available Yield Sources have already completed the underwriting process by Sierra's Advisory Council. Any new Yield Source that becomes available through Sierra must complete underwriting by the Advisory Council before any Vaults or LVTs may allocate to it.
Each Vault or LVT allocates to a subset of available Yield Sources based on its respective Reserve Management Strategy. Some Yield Sources available are not suitable for a Vault or LVT and so the corresponding reserve assets of that Vault or LVT cannot be allocated to those unsuitable yield source. For example, a Vault that aims to have a lower risk profile may not allocate to a yield source like uncollateralized lending due to Credit Risk or 30 year corporate bonds do to Duration Risk.
Here is a comprehensive list of all Yield Sources currently available:
Fidelity Institutional Liquidity USD Fund
xMMF
Backed by Fidelity's short-term money market fund, designed to maintain capital value and liquidity while delivering returns in line with US dollar money market rates
Prudential AAA-Rated CLOs
xUSCLO
Backed by AAA-Rated Collateralized Loan Obligations through Prudential's PAAA ETF
Investment-Grade Commercial Paper
xIGCP
Backed by a portfolio of commercial paper issued by Investment-Grade corporate entities with 30-60 day maturity, managed by Five Sigma Finance
Franklin Templeton Benji Money Market Fund
xFTB
Backed by BENJI tokens, which represent shares of the Franklin OnChain U.S. Government Money Fund (FOBXX), a U.S. registered 1940 Act money market fund that invests at least 99.5% of its assets in high-quality U.S. government securities, cash, and repurchase agreements fully collateralized by government securities or cash
Blackrock iShares 0-5 Year High Yield Corporate Bond
XHYC
Backed by the iShares SHYG ETF, which tracks the performance of an index of U.S. dollar-denominated, high yield corporate bonds with remaining maturities of less than five years
WisdomTree Government Money Market Fund
xWTMMF
Backed by the WisdomTree Treasury Money Market Digital Fund (WTGXX), which seeks to provide investors with a high level of current income consistent with preservation of capital and liquidity
WisdomTree Private Credit & Alternative Income
xCRDYX
Backed by the WisdomTree Private Credit and Alternative Income Digital Fund that seeks to track the price and performance of the Gapstow Private Credit and Alternative Income Index. Loans are fully collateralized at all times by the eligible collateral. No securities lending or leverage is permitted
Galaxy Digital Private Credit
(USDC)
xPCG7, xPCG30, xPCG90
Backed by an investment vehicle that makes unsecured private placement loans to Galaxy Asia. Galaxy Asia’s primary revenue stream is from digital assets operations, which is the primary use of proceeds for the loan. Available with 7, 30 and 90 term length
FalconX Prime Brokerage Lending
xDLF
Backed Pareto's vault that lends to FalconX through an SPV to facilitate financing to end-counterparties (Trading Firms, Hedge Funds etc.) while being backed by layers of structural protections, including an equity tranche, transaction-level collateralization, and real-time risk engine
TradeFlow Trade Finance
xTradeflowCEMP90-USDCAva-1
Backed by Obligate eNotes, which lends capital to the TradeFlow Capital Management's CEMP USD Trade Flow Fund
Morpho Gauntlet Prime Vault (Base)
xMorphoGPUSDC-Base
Backed by overcollateralized lending against blue-chip cryptoasset collateral like cbBTC and wsETH
Aave USDC Ethereum
xAaveUSDC-ETH
Backed by USDC deposits into Aave’s Core instance on Ethereum, which deploys USDC into overcollateralized lending against bluechip cryptoasset collateral
Wildcat Wintermute
xWildcatWMTUSDC-ETH
Backed by uncollateralized lending to Wintermute, a cryptonative trading firm, on the Wildcat Protocol
OpenTrade Prime+ (USDC/USDT)
xPPV
Backed by a curated portfolio of RWAs with an investment strategy that aims to deliver the fixed rate of returns, while maintaining sufficient liquidity to meet deposits and withdrawals at all times and to generate excess return through active asset–liability management (ALM). The strategy will be deliberately conservative, with the majority of assets allocated to highly liquid instruments such as money market funds and ETFs
OpenTrade Stablecoin Staking Yield (USDC/USDT)
xSOLY
Backed by a basis strategy that is generated from Solana (SOL) staking rewards and SOL perpetual futures funding rates. The strategy is delta-neutral to mitigate price volatility of SOL
Sierra LP Strategy
xSLP
Backed by a portfolio of SIERRA ecosystem strategies including direct token holdings, concentrated liquidity provision on leading DEXs, and fixed-rate and LP positions on Pendle
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