On-Chain vs Traditional Alternative Yields
Tokenized treasuries and on-chain credit measured by realized NAV yield— annualized from AltStreet's own daily on-chain NAV collection, not protocol-advertised APY — side by side with filing-verified yields from traditional alternative-investment platforms.
Stablecoin Yield (Median)
4.87%
as of Oct 29, 2026
Tokenized RWA TVL
$5.0B
as of Sep 14, 2026
On-Chain Credit TVL
$2.6B
as of Oct 29, 2026
Royalty Median Entry Yield
16.0%
as of Oct 23, 2026
Tokenized Treasuries & On-Chain Credit
Realized annualized yield from ~30-day NAV drift, collected daily from on-chain and issuer sources.
| Instrument | Type | Realized Yield (ann.) | NAV | As of |
|---|---|---|---|---|
| OUSGOndo Finance | Tokenized short-term US Treasuries | 3.68%43d basis | $117.07 | Oct 28, 2026 |
| USDYOndo Finance | Tokenized yield-bearing dollar note | 2.27%44d basis | $1.1487 | Oct 29, 2026 |
| syrupUSDCMaple Finance | On-chain institutional credit pool | 4.34%44d basis | $1.1890 | Oct 29, 2026 |
| BUIDLBlackRock / Securitize | Tokenized Treasury money-market fund | Distributing — NAV pegged $1; see review | $1.0000 | Oct 29, 2026 |
Traditional Alternative Platform Yields
Filing-verified and platform-reported yields documented in AltStreet reviews. Figures refresh with each review update.
| Vehicle | Type | Yield | Basis | |
|---|---|---|---|---|
| Fundrise Income Fund | Registered real-estate income fund | 7.72% | Distribution yield per N-CSR filing | Review |
| Arrived Private Credit Fund | Short-term real-estate credit notes | 8.70% | Platform-reported current annualized; 8.1%+ for 22 consecutive months | Review |
| Arrived Debt Fund | Real-estate debt fund | 5.23% | Net income yield, FY2025 audited 1-K | Review |
| Royalty Exchange auctions | Music catalog purchases (life-of-rights) | 16.0% | Median entry yield on closed auctions (trailing) — an asset purchase yield, not a fund distribution rate; not directly comparable to the rows above | Review |
Reading the spread
Tokenized treasuries earn government-obligation rates with daily on-chain liquidity. Platform credit funds yield more because they carry borrower default risk, platform operational risk, and redemption limits. The gap between the two tables is the market price of that risk — when it compresses, private credit is paying less for its illiquidity; when it widens, the opposite.
Frequently asked questions
How are the on-chain yields calculated?
From realized NAV drift: AltStreet collects each token's net asset value daily from on-chain and issuer sources, then annualizes the change over roughly the trailing 30 days. This measures what holders actually earned, which can differ from the APY a protocol advertises.
Why does BUIDL show no NAV yield?
BUIDL holds its token price at $1.00 and pays yield as monthly token distributions rather than NAV appreciation, so a NAV-drift calculation would incorrectly show 0%. Its effective yield tracks short-term US Treasury money-market rates.
Are tokenized treasury yields comparable to platform private credit yields?
Not directly. Tokenized treasuries hold US government obligations; platform private credit involves borrower default risk, platform operational risk, and less liquidity. The spread between them is compensation for that additional risk — comparing the two is the point of this page, but they are not substitutes.
On-chain NAVs are collected daily by AltStreet from on-chain reads and issuer data (DefiLlama, CoinGecko, issuer contracts). Realized yield annualizes the NAV change over the stated basis window and will differ from advertised APYs, which may include incentives or forward-looking rates. Traditional platform yields are sourced from SEC filings, audited financial statements, and platform disclosures as cited in the linked reviews; each carries different risk, liquidity, fee, and tax characteristics. Nothing on this page is investment advice. Corrections: [email protected].