What changed

Portals displayed Moo Beefy Aerodrome Base USDC-SPCXc at 786.06% APY, $26,811.05 TVL and $26,804.59 of one-day inflow; USDC-AMZNc at about 8,730%, $15,045.38 and $15,170.53; USDC-MSTRc at 1,057.60%, $23,699.29 and $23,695.83; and USDC-TSLAc at 16,740.06%, $15,735.95 and $14,745.18. All four were listed as opportunities discovered about nine hours earlier. That discovery timestamp reflects Portals' detection and does not establish the vaults' deployment time.

Why it matters

On the same Portals view, Beefy CLM Reward Pool headline APYs were materially lower at 271.51% for MSTRc, 241.78% for SPCXc and 570.44% for TSLAc. The gap shows that wrapper-level headline APY, reward-pool yield, compounding and short-window annualization should not be treated as the same metric. Beefy has publicly described its Coinbase Tokenized Stocks CLMs as combining Aerodrome emissions, Coinbase-funded USDC incentives distributed through Merkl, and Beefy mooBIFI boosts, but this observation did not independently decompose the live reward mix for each newly observed vault.

Evidence

  • Portals Explorer — Fresh Opportunities — Portals showed Beefy Moo vaults for USDC-SPCXc, USDC-AMZNc, USDC-MSTRc and USDC-TSLAc in Fresh Opportunities. Displayed APYs ranged from 786.06% to 16,740.06%, TVL from $15,045.38 to $26,811.05, and one-day inflows from $14,745.18 to $26,804.59. On the same view, MSTRc/SPCXc/TSLAc CLM Reward Pool APYs were 271.51%/241.78%/570.44%, materially below the Moo-vault figures. 2026-09-08T12:52:06+09:00
  • Beefy — Coinbase Tokenized Stocks: As Markets Converge — Beefy publicly describes its Coinbase Tokenized Stocks program on Base as using Aerodrome CLMs with three incentive layers: Aerodrome emissions, Coinbase-funded USDC incentives distributed through Merkl, and Beefy mooBIFI boosts. 2026-09-08T12:52:06+09:00

Limitations

Portals' discovered timestamp is the data provider's detection time, not a deployment timestamp. TVL is only about $15,000-$27,000 per vault, so headline APY can move sharply as short-lived rewards, trading fees, compounding and annualization interact. This observation did not independently decompose the contribution of swap fees, Aerodrome emissions, external incentives and Beefy boosts for each vault. Other material limitations include concentrated-liquidity range risk, impermanent loss/LVR, gauge and reward changes, vault/strategy contract risk, tokenized-stock issuer/custody/redemption and eligibility constraints, and the 24/5 underlying-equity market versus 24/7 Base DeFi trading schedule.

Disclosure

This is a public-market observation and does not constitute investment advice.