Net the rate
Fees reduce the assumed APY before the model compounds it over the exact day fraction.
User assumptions. Decimal arithmetic. No live-rate claims.
Price the idle balance before changing the allocation.
Compare current and target non-yield shares through a chosen horizon, then inspect modeled carry, liquidity retained, and the monthly balance shift the target requires.
Treasury arithmetic
Change one allocation assumption. Keep the tradeoff visible.
This local model does not provide live rates, legal analysis, token recommendations, custody, or guaranteed returns.
DECIMAL.JS 10.4.3 READYWorked allocation computed through December 31, 2026.
Assumptions
Set the allocation
Follow the dependency
Allocation changes principal. Rate changes growth. Time changes both carry and migration pace.
Size the principal
Only the yield-eligible balance receives the modeled period return. The non-yield floor sets that balance.
Price the migration
A more ambitious target adds modeled carry and requires a faster balance shift through the same horizon.
Worked comparison
Separate the thesis from the inputs.
A $10 million reserve at 70% non-yield exposes $3 million to the assumed net rate. A 25% floor exposes $7.5 million. Their difference, not the headline APY alone, creates incremental modeled carry.
Reasoning carousel
APY is an assumption, not an observation
The model can compound the number exactly without proving that a product will deliver it.
1 / 3
Quick assessment
If the liquidity floor rises and every other input stays fixed, what happens to incremental carry?
Choose an answer, then connect it to yield-eligible principal.
Misconception
"Highest carry wins."
The model omits depeg, liquidity, custody, credit, smart-contract, tax, and operational risk. A treasury policy must price those separately.
Transfer
Defend your floor.
Use your balance, assumptions, and horizon. Explain both the modeled carry gained and the migration burden accepted.
Boundary
No token recommendation.
USDC, USDT, sUSDe, Maker products, and regulatory predictions from the source are not validated or ranked here.