What changed
Since the previous observation, Portals moved from 7.90% APY and $398,389.56 TVL to 18.83% and about $414.99K, a 10.93 percentage-point APY increase and roughly $16.6K of additional TVL. Over the same comparison, DefiLlama moved from 17.75% and $413,547 to 19.02% and $430,021. DefiLlama continues to show 0.00% base APY and 19.02% reward APY paid in USDC and sUP.
Why it matters
Portals' displayed APY has rapidly moved back toward DefiLlama's level, making the earlier divergence more consistent with differences in refresh timing, aggregation surface or route eligibility than with a confirmed termination of the incentive. The displayed yield nevertheless remains reward-driven rather than base yield, so its durability depends on incentive terms and participating capital.
Evidence
- Portals Explorer — Tokenized stocks on Base — NVDA SuperVault showed 18.83% APY, about $414.99K TVL and +$12,556.34 one-day flow.
- DefiLlama — superNVDA — superNVDA showed 19.02% supply APY, 0.00% base APY, 19.02% reward APY in USDC and sUP, and $430,021 TVL.
Limitations
Portals and DefiLlama may differ in refresh timing, aggregation methodology and eligible route, so the 0.19 percentage-point gap should not be treated as a perfectly synchronized comparison. This observation does not independently verify wallet-level reward accrual, eligibility or incentive end conditions. Key risks include incentive changes and dilution, sUP price risk, Superform vault/strategy/contract risk, NVDAc issuer, custody, redemption and eligibility risk, and the timing mismatch between 24/5 equity markets and 24/7 Base markets.
Disclosure
This is a public-market observation and does not constitute investment advice.