Stablecoin yields are becoming one of the earliest growth drivers on Monad. With new liquidity arriving and multiple protocols shipping at the same time, builders have a window to offer attractive, onchain USD yield to their users.
One of the strongest opportunities today is earnAUSD, a yield-bearing stablecoin built by Upshift that builds upon Agora’s AUSD. This guide breaks down how it works, why demand is rising, and how you can integrate Monad-native stablecoin yields through the Yield.xyz API.
What Is Upshift?
Upshift is a platform that enables retail and institutional access to onchain yield opportunities across various networks and assets. Its design centers around simple user flows and predictable yield mechanics, with products that make it easy for users to deposit digital assets to earn yield.
Upshift recently launched on Monad with earnAUSD, the platform’s yield-bearing dollar asset that builds on Agora’s AUSD.
How earnAUSD Works
earnAUSD is a yield-bearing version of AUSD designed to give users a competitive stablecoin return with minimal friction. The earnAUSD vault launched with optimized lending yields, and the vault will expand to cover strategies such as basis trades. Deposits into earnAUSD generate:
- A current 10% APY, sourced from Upshift’s underlying strategies
- Upshift points, which add further upside during early growth phases
For holders, yield accrues automatically. Users hold a single token that grows in value over time without manual claiming or position management. For builders, this simplifies UX: earnAUSD behaves like a stable, auto-accruing balance that can slot into savings products, vaults, wallets, and beyond.
Agora AUSD, Explained
AUSD is the core stablecoin issued by Agora. It is designed as a fully onchain, transparent USD-denominated asset intended to serve as foundational liquidity across Monad. AUSD aims to provide predictable stability, simple minting and redemption flows, and compatibility with native Monad DeFi. Because earnAUSD is built on top of AUSD, its peg, liquidity profile, and integrations inherit much of Agora’s AUSD design.
Stablecoin Yield Opportunities on Monad
Monad is rapidly becoming a competitive environment for stablecoin yield. Builders have two strong opportunities in particular:
earnAUSD (~10% APY + Upshift Points): Upshift’s yield-bearing AUSD product offers one of the highest organic stablecoin yields on Monad right now. The combination of base yield plus points creates a strong early-stage incentive for users who want predictable USD returns.
MON Incentives via Euler: Euler is live on Monad with MON rewards for AUSD markets. Because Yield.xyz already supports Euler, builders can surface MON-incentivized yield opportunities alongside earnAUSD in one integration.
With Monad routing incentives to bootstrap liquidity and onboard early users, developers have an opportunity to offer above-market stablecoin returns as the ecosystem forms.
Offer earnAUSD Stablecoin Yield With Yield.xyz
Yield.xyz provides the easiest way to integrate earnAUSD and other onchain yields into your app. Instead of maintaining individual protocol integrations, builders get:
- A single API for depositing, withdrawing, and tracking earnAUSD yields
- Automated reward processing through OAVs (including point handling, auto-compounding, and incentive conversions)
- Shield, which verifies user transactions and protects against malicious signatures
- Access to 2,500+ yield opportunities across 75+ networks, all normalized under one schema
If you’re building on Monad and want to offer stablecoin yield, you can ship earnAUSD support within days, saving months of developer time.
Explore Yield.xyz: https://docs.yield.xyz/docs/getting-started