RWAKit

RWA Kit is the Yield API surface for regulated, off-chain assets settled on-chain that pay a yield — US Treasuries, money-market funds, fixed-income funds (IG, HY, muni, CLOs, senior loans, BDCs), private credit pools, yield-bearing notes, basis/carry strategies, and yield-bearing stablecoins. One interface, every issuer, every chain — protocol-specific quirks absorbed inside the integration. Tokenized stocks and equity ETFs are out of scope here; see StockKit for those.

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Direct, non-custodial — the user holds the issuer's own token

RWA Kit is a direct integration. The user — or the partner acting on their behalf — interacts directly with the underlying RWA protocol through the unified Yield API: discover a yield, enter, exit. Yield.xyz returns ordered, unsigned transactions that are signed client-side in the user's own wallet. The user holds the issuer's own token (USTB, mTBILL, OUSG, USD+, …) and yield accrues through that token's native mechanism. Yield.xyz never holds keys, never custodies funds, and is never a counterparty to the position. Permissioned and permissionless yields integrate identically — the only difference is whether the wallet must first clear the issuer's KYC/allowlist (a single 412 + authorizeUrl handoff).

API surfaces

RWA Kit is one API surface — there is no separate KYC service. KYC is exposed as endpoints on the Yield API itself. Both surfaces share a single API key issued from the Yield.xyz dashboard.

Yield-Type Index

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Status

Live = callable on the production API today · Coming soon = integration in progress, launching as listed.

U.S. Treasuries

Tokenized US T-Bills, money-market funds, and Treasury ETF wrappers — plus the only EU short-end fixed-income product (bC3M, included here for proximity to short-duration USD exposure).

Credit

Investment grade, high yield, municipals, CLOs, senior loans, BDCs, and private credit. ACRED is the only allowlist-gated private-credit fund live on-chain; the Dinari fixed-income dShares are coming soon.

Yield-Bearing Notes & Stablecoins

Product shapes that look like stablecoins but settle differently: Reg S Cayman secured notes (Ondo), SEC-registered face-amount certificates (Figure), and a yield-bearing ERC-20 stablecoin (Dinari).

EU Treasuries

EUR-denominated short-end government bond exposure.

Actively Managed Strategies

Performance-fee-based strategies — crypto carry / basis, structured yield, MEV arbitrage, BTC-denominated yield. No recurring management fee on Midas; Superstate's USCC is for US Qualified Purchasers only.

Issuer comparison (all issuers side-by-side)

This is the canonical at-a-glance view of every RWA issuer Yield.xyz supports for yield-bearing instruments. Equity-side coverage per issuer (tokenized stocks, equity ETFs, equity dShares, dividend streams) lives in StockKit. Per-issuer detail lives in the Issuer directory below.

How yield accrues

Each RWA token accrues yield through its own native mechanism. Partners don't need to route on this — the value always shows up in the position balance and live APY — but the mechanism is worth understanding for NAV cadence, reporting, and reconciliation.

KYC model

kycRequired is a boolean on every yield:

• kycRequired: false — permissionless from the user's perspective. Deposit immediately. (An on-chain compliance read may still apply — e.g. Midas checks a greenlist/blacklist/sanctions list on-chain and is not available to US persons.)
• kycRequired: true — the wallet must be on the issuer's allowlist before the deposit transaction will build. actions/enter returns a 412 Precondition Failed carrying the issuer's authorizeUrl; the user completes the issuer's hosted KYC there, and once the wallet is allowlisted the call is retried and succeeds.

Where an issuer accepts reliance on a partner's existing KYC (partner-side KYC, prior accredited-investor attestation), a direct whitelist can be arranged as a partner-coordination step rather than a user-facing flow — talk to the Yield.xyz team to set this up.

A wallet's normalized KYC status for any yield can be polled at any time:

GET https://api.yield.xyz/v1/yields/{yieldId}/kyc/status?address=0xUserWallet

{
  "kycStatus": "not_started",   // not_required | not_started | pending | approved | rejected
  "authorizeUrl": "https://..." // present when the wallet still needs to verify
}

Yields without a KYC requirement return { "kycStatus": "not_required" }. On-chain reads distinguish approved / not_started / rejected; pending lives in the issuer's off-chain provider and isn't always readable on-chain.

Yields requiring KYC

Yields where the wallet must be on the issuer's allowlist before depositing. Onboarding goes through the issuer's hosted flow at the authorizeUrl, or a reliance-based whitelist where the issuer accepts existing KYC (see KYC model).

Yields without KYC

Yields where the user can deposit without any KYC handoff. Where the underlying is fully permissionless, the integration deposits immediately; partner-side geoblocking still applies where the issuer restricts a jurisdiction (e.g. Midas / US persons).

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Equity-style trackers and stocks live in StockKit

bCSPX (S&P 500 UCITS tracker), xStocks (TSLAx, NVDAx, …), Ondo Global Markets stocks (ondoAAPL, ondoTSLA, …), and all Dinari equity dShares are tokenized equities, served end-to-end from StockKit on the Trade API — including the dividend stream for dividend-paying shares. StockKit uses the same boolean kycRequired model and the same 412 + authorizeUrl handoff.

The integration model

Every RWA Kit position follows the same three-phase model regardless of KYC posture or settlement style — identical to the existing Yield API lifecycle:

1. Discover — GET /v1/yields (RWA Kit yields appear inline with DeFi yields).
2. Enter — POST /v1/actions/enter returns ordered, unsigned transactions to sign client-side and broadcast.
3. Exit — POST /v1/actions/exit returns the redemption transaction(s); asynchronous redemptions surface on the balance as unstaking with an expectedSettlementAt until they settle.

For KYC-gated instruments, a 412 Precondition Failed from actions/enter carries the issuer's authorizeUrl — the user completes verification there and the call is retried once the wallet is allowlisted.

After broadcasting a signed transaction, report the hash back for indexing:

PUT https://api.yield.xyz/v1/transactions/{transactionId}/submit-hash
{ "hash": "0xBroadcastedTxHash" }

Identifying RWA instruments

GET https://api.yield.xyz/v1/yields
  ?type=real_world_asset
  &network=ethereum,base,arbitrum,polygon,avalanche-c
  &provider=midas,superstate,ondo,securitize,dinari

Supported query params include type / types, network / networks, chainId, provider / providers, token, inputToken / inputTokens, search, sort, hasCooldownPeriod, hasWarmupPeriod. The RWA yield type is real_world_asset. KYC posture and eligibility are read off each yield's metadata block (below), not passed as query filters.

For tokenized equities — stocks, equity ETFs, equity dShares — and equity / commodity / forex / index perps, use GET https://api.trade.yield.xyz/v1/markets (StockKit) instead.

Yield metadata schema

RWA yields carry the standard YieldDto plus two KYC-related fields. The flow-determining field is kycRequired; the optional kyc block describes the public verification criteria so you can render the right UI.

{
  "id": "ethereum-usdc-superstate-ustb-vault",
  "type": "real_world_asset",
  "name": "Invesco Short Duration US Government Securities Fund",
  "token": { "symbol": "USDC", "network": "ethereum" },
  "rewardTokens": [{ "symbol": "USTB" }],
  "minimumStake": 100000,
  "cooldownPeriod": { "days": 1 },
  "kycRequired": true,
  "kyc": {
    "kycMode": "oauth_redirect",          // none | oauth_redirect | iframe | deeplink | native_sdk
    "iframeAllowed": false,
    "authorizeUrl": "https://...",         // issuer's KYC portal (HTTPS)
    "notes": "Identity provider used for Qualified Purchaser verification.",
    "mandatoryDisclosureUrl": "https://...",
    "eligibility": {
      "defaultPolicy": "deny",             // deny (strict allow-list) | allow (permissive minus blocks)
      "countries": ["US", "..."],          // ISO-3166-1 alpha-2; pseudo-codes "EEA"/"GCC" allowed
      "blockedCountries": [],              // always wins over allows; no pseudo-codes
      "blockedSubdivisions": [],           // ISO-3166-2, e.g. "UA-43"
      "usPersonAllowed": true,             // enforced independently of blockedCountries
      "investorEligibility": [
        { "jurisdiction": "US", "tier": "us_qualified_purchaser", "verificationLevel": "third_party_attestation" }
      ],
      "subjectTypes": ["KYC", "KYB"]
    }
  }
}

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Note

The eligibility block is informational — it drives UI and pre-checks. The on-chain allowlist (or compliance read) is always the authoritative gate at enter/exit time.

Integration walkthrough — Ondo OUSG (KYC-gated)

POST https://api.yield.xyz/v1/actions/enter
Content-Type: application/json

{
  "yieldId": "ethereum-usdc-ondo-ousg-vault",
  "address": "0xUserWallet",
  "arguments": { "amount": "10000" }
}

If the wallet isn't yet allowlisted you'll receive a 412 (rendered from RwaKycError):

{
  "statusCode": 412,
  "timestamp": "2026-06-10T12:34:56.789Z",
  "path": "/v1/actions/enter",
  "message": "Address 0xUserWallet is not allowlisted for Ondo. Complete KYC at https://app.ondo.finance/signin",
  "details": {
    "address": "0xUserWallet",
    "protocol": "Ondo",
    "authorizeUrl": "https://app.ondo.finance/signin"
  }
}

The details keys are address, protocol, authorizeUrl. Hand the user off to authorizeUrl; once the wallet is allowlisted, actions/enter succeeds and you proceed exactly as in the permissionless case.

try {
  await yieldxyz.actions.enter({ yieldId, address, arguments: { amount } });
} catch (err) {
  if (err.statusCode === 412) {
    window.location = err.details.authorizeUrl; // issuer KYC portal, then retry
  }
}

Partners whose existing KYC the issuer accepts under reliance can skip the hosted flow — request a direct whitelist via the Yield.xyz team and the wallet is allowlisted without ever seeing a 412. See KYC model.

Integration walkthrough — Dinari USD+ (permissionless)

USD+ is a yield-bearing stablecoin the user holds directly — there is no intermediary share. Enter converts USDC → USD+; exit converts USD+ → USDC through an async redemption queue.

POST https://api.yield.xyz/v1/actions/enter
Content-Type: application/json

{
  "yieldId": "ethereum-usdc-dinari-usd-plus-vault",
  "address": "0xUserWallet",
  "arguments": { "amount": "1000" }
}

Mechanically (ethereum, base, arbitrum):

• Enter (USDC → USD+): an APPROVAL (USDC → minter) followed by a STAKE calling minter.deposit(USDC, amount, receiver).
• Exit (USD+ → USDC): an APPROVAL (USD+ → redeemer) followed by an UNSTAKE calling redeemer.requestRedeem(USDC, amount, receiver, owner). This queues a redemption ticket settled by Dinari's operator in 0–3 days (cooldownPeriod: 3d); it surfaces as unstaking with an expectedSettlementAt until it settles.
• Balance: the held USD+ via balanceOf. APY is live from Dinari's API.

The yield accrues off-chain and is reflected in the position; the user holds USD+ directly and never sees issuer accounts or coupon-claim flows.

Issuer directory

Superstate — USTB, USCC (Live)

Two live tokenized funds, both restricted to US Qualified Purchasers.

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Manager transitions in 2026

USTB: Invesco Advisers became investment manager in Q2 2026. USCC: Bitwise becomes investment manager 1 June 2026. Fund mechanics unchanged through both transitions.

Midas — liquid yield tokens (mTBILL live; strategies coming soon)

Permissionless liquid yield tokens — open ERC-20s on-contract; mint and redeem flow through Midas's Issuance Vault. mTBILL is live; mBASIS / mEDGE / mRE7YIELD / mMEV / mBTC are coming soon.

(Base: deposit vault 0x8978e327FE7C72Fa4eaF4649C23147E279ae1470; redemption 0x2a8c22E3b10036f3AEF5875d04f8441d4188b656; mTBILL token same address as Ethereum.)

Ondo Finance — OUSG, USDY (Live; rUSDY coming soon)

Instant subscribe/redeem via an InstantManager, with on-chain ID-registry + compliance gating. Ondo's tokenized equities (Ondo Global Markets) are served from StockKit.

Shared contracts (Ethereum): ID registry 0xcf6958D69d535FD03BD6Df3F4fe6CDcd127D97df · compliance 0x156F73fc73197555e950743Cb2B23F411c751002 · oracle 0x9Cad45a8BF0Ed41Ff33074449B357C7a1fAb4094. USDY history oracle 0xA0219AA5B31e65Bc920B5b6DFb8EdF0988121De0.

Securitize — ACRED, VBILL (Live; BUIDL coming soon)

Distribution and compliance platform for institutional asset managers. Deposit via a DS-Protocol on-ramp (swap, 1% slippage guard); redemption transfers the DS token to a shared fund wallet and the issuer settles USDC off-chain. Wallets must be on the issuer's DS Registry.

Instrument IDs: ethereum-usdc-securitize-acred-vault (+ polygon-…, avalanche-c-…), ethereum-usdc-securitize-vbill-vault. Shared redemption fund wallet 0xbb543C77436645C8b95B64eEc39E3C0d48D4842b.

Dinari — USD+ (Live; fixed-income dShares coming soon)

USD+ is a non-rebasing yield-bearing ERC-20 stablecoin backed 100% by short-term US Treasuries and USD. It is permissionless to mint/hold. The fixed-income dShares (treasury, IG, HY, muni, CLO, senior-loan, BDC ETF wrappers) are coming soon and KYC-gated. All Dinari equity dShares are served from StockKit.

Coming soon — Franklin Templeton, Figure Markets

• Franklin Templeton (July 2026) — BENJI, the on-chain share class of FOBXX (Franklin OnChain US Government Money Fund); SEC-registered '40 Act mutual fund; 0.20% net expense ratio; 24/7 USDC subscribe/redeem via Zero Hash.
• Figure Markets (July 2026) — YLDS, an SEC-registered yield-bearing face-amount certificate; yield = SOFR − 35 bps, 0% floor, accrued daily / paid monthly. PRIME and CASH products on the roadmap.

Position lifecycle & balance states

Balances use the BalanceTypes enum:

Async exits

RWA exits are rarely atomic — settlement cadences range from 24/7 instant (Ondo OUSG) to T+1 NAV strikes (Superstate, BENJI), 0–3 day operator settlement (Dinari USD+), 40–50 day primary lockups (Ondo USDY), and monthly liquidity windows (Apollo ACRED). actions/exit returns the redemption transaction(s); while the issuer is still settling, the pending amount appears as unstaking with an expectedSettlementAt. Once settled it flips to unstaked / becomes withdrawable, and the user completes the claim with a follow-on actions/exit (or actions/manage where claim is modeled separately).

Monetization — fee wrapper (rolling out)

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Status: rolling out

RWA Kit today is the direct, non-custodial flow described above, with no Yield.xyz fee layer on RWA positions. The fee-wrapper infrastructure (deposit / management / performance fees, fee collection & distribution, cross-chain share routing) is being built and audited, and will be enabled per project through a request-and-approval process.

The monetization layer is an optional fee wrapper that partners can route deposits through to add a programmable fee layer, configured per project in the dashboard, with no contracts to deploy. Three optional wrapper-level fees stack on top of the issuer's own fee schedule:

Beyond wrapper fees, partners also capture protocol / curator revenue share and, where the issuer supports it, partner fee passthrough. The Yield.xyz platform fee (a share of partner-configured fees and rev-share, scaling down with volume) applies once monetization is enabled.