Precision ≠ Governance: Getting eUSD Yield Payouts Right

Electronic Dollar (eUSD)
1

To avoid tangents, this post sets aside ongoing debates on eUSD strategy and process.

Recent weeks have sparked discussion on maximizing yield payouts for eUSD, often relying on rough napkin math and static screenshots. I’ve been guilty of this too.

The linked file provides a granular, transparent dataset with inspectable formulas, welcoming your critique or improvement proposals.

Here is what you will see when you open the file, and scroll rightward:

  • eUSD supply data pulled from Register for 365 days, 9/1/2024 to 8/31/2025
  • An analysis on payout precision depending on cadence for the following:
    • Table 1 - Daily Yield “BASELINE”
    • Table 2 - BiWeekly Yield (Avg)
    • Table 3 - BiWeekly Yield (End) - CURRENT
    • Table 4 - Monthly Yield (Avg)
    • Table 5 - Monthly Yield (End)
    • Table 6 - Quarterly Yield (Avg)
    • Table 7 - Quarterly Yield (End)
    • Table 8 - Summary Analysis - START HERE :magnifying_glass_tilted_left:

TLDR:

  1. Daily yield baseline is most precise, like banks calculating interest at day-end.
  2. Out of scope but notable: block-by-block yield is possible onchain.
  3. Any cadence other than daily risks over/underpaying due to smoothed volatility and shifting balances.
  4. Surprise: In this eUSD year-long dataset, monthly (avg) and quarterly (avg) calculations pay more precisely than Biweekly End (current process), but difference is an immaterial $556 (0.05% of yield payout yearly).
  5. If the goal is to pay Fintechs with maximum precision, yield should be calculated daily—or even by block. This doesn’t need to follow governance cadence, only correct math.

How you can help:

  • Inspect the spreadsheet formulas. Fork it, test it, flag errors.
  • How could we work smarter on precision, not harder? what are the best ways to automate precise yield calculation in short term vs long term? leave your comments below.
1 Like