TAU METAc Carry Vault shows 12.01% APY on Portals with a 10% reward layer visible again

What changed

Versus the prior public observation of 0.52% APY and $10,605 TVL for METACT, Portals now shows 12.01% APY and $19,460.07 TVL. That is an 11.49 percentage-point difference in displayed APY and an $8,855.07 increase in displayed TVL, or about 83.5%. The current Portals reading is split into 2.01% base APY and 10.00% reward APY, with $10,055.69 of deposits and $2,465.26 of withdrawals over one day, implying about $7,590.43 of net inflow.

Why it matters

For TAU's tokenized-stock carry vaults, external rewards can dominate the headline APY relative to the underlying carry. This observation shows that the visible 10% reward layer can vary materially by data provider, access route, eligibility treatment or refresh timing, so base yield and reward yield need to be evaluated separately rather than relying on the headline APY alone.

Evidence

• Portals Explorer — TAU METAc Carry Vault — TAU METAc Carry Vault shows 12.01% APY and $19,460.07 TVL, split into 2.01% base APY and 10.00% reward APY. One-day deposits are $10,055.69 and withdrawals are $2,465.26. 2026-09-22T10:37:41+09:00
• SIGNA ET STRUCTURA — TAU AAPLCT displayed APY falls from 10.27% to 0.34% while TVL stays nearly flat — The prior public observation showed METACT at 0.52% APY and $10,605 TVL on DefiLlama, with the 10% reward layer not visible in that snapshot. 2026-09-21T15:58:01+09:00

Limitations

The prior reading came from DefiLlama while the current reading comes from Portals, so this is not a strict same-provider time series. No official announcement from TAU Labs, IPOR or CURATED confirming a restart or extension of the 10% USDC reward was found in this observation, so this brief does not claim that the incentive formally restarted. The difference may also reflect route, eligibility, reward-accounting or refresh-timing differences. The carry structure remains exposed to variable borrowing costs, liquidation and oracle risk, smart-contract risk, tokenized-stock issuer/custody/redemption/eligibility constraints, 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.