What this is
A headline APY may blend durable cashflow with temporary subsidies: USDai’s 8% includes a PayPal PYUSD promo (expiring 2026), and BFUSD’s disclosed range includes boosted rewards. The two components look identical in the headline number and behave completely differently over time.
What it means for your yield
When the subsidy ends, the rate steps down without any failure in the underlying mechanism — a planned disappointment. Sizing a position on the blended number means sizing it on money that has an expiry date.
Where it appears on Pennyworth
Yield-source chips tag incentive components, and the risk profile’s yield dimension spells out which slice of the rate is promotional and when it expires.