Enhanced Yield for Bitcoin Holders

Key takeaway: Helios keeps yields denominated and paid in real BTC and can spike into the 13 %-15 % range when pool utilization and protocol rebates stack—without taking wrapped-asset or CeFi counter-party risk. Competitors often headline bigger numbers by quoting USD returns on BTC deposits or by assuming bridge/custody risk. A fresh, side-by-side look—including the new Babylon BTC-staking layer—clarifies where each extra percentage point really comes from.

---

How the Adaptive Engine Pushes Helios APY Past 10 %

Pool utilization	Base borrow APR	Base supply APY	Risk-spread overlay (vol + fees)	All-in supply APY
30 % (calm)	3 %	1.5 %	0 bp	1.5 %
75 % (busy)	9 %	6 %	+150 bp	7.5 %
92 % (stressed)	18 %	12 %	+300 bp	15 %

Add-on “juice”—up to 1.5 pp liquidation-fee cashback, 3-5 pp HELIOS incentives, and ≈ 0.5 pp hBTC auto-compounding—turns a raw 10 % rate into 13 %-15 % BTC APY while the risk engine still enforces a ≤ 0.1 % default ceiling.

---

Peer-group Comparison (May 2025)

Venue	Custody / chain	Max LTV	Lender APY (BTC terms)	Headline APY banner*	Borrow APR	Notes
Helios	Native BTC (TSS vault)	75 % in calm, auto-tightens	2 %-4 % base, 15 %+ peak	Same (BTC)	3 %-18 % curve	Insurance reserve, zero bridges
Morpho Blue (cbBTC/USDC)	Wrapped cbBTC on Base	86 % static	≈ 3 %-4 %	4 %-6 % (USD)	3 %-5 %	Bridge + wrapper risk; USD inflates APY ([cbBTC/USDC market - Morpho
Coinbase Bitcoin Yield Fund	Off-chain fund	N/A	4 %-8 % after fees	Same (BTC)	N/A	Lock-ups, CeFi custody (Coinbase Asset Management launches the Coinbase Bitcoin Yield ...)
Babylon staking	Native BTC staked to PoS L2	N/A	~8 %-10 % points-based^	9 % blog headline	N/A	Rewards not yet liquid; 100-day lock-in (Bitcoin Staking is Here. How BTC holders are getting 9% yields…, Bitcoin Staking on Babylon - Stake BTC To Secure DeFi Networks)
Aave V3 WBTC.e (Avalanche)	WBTC.e wrapper	70 %	0.04 %	0.04 %	0.66 %	Oversupplied pool (USDT to Launch on Bitcoin's LN (Taproot assets))

*Most competitors promote USD APY: if BTC rallies, the USD return inflates even when the BTC yield is flat. ^Babylon currently pays “points” that may convert to tokens; yield is not liquid today.

---

Real BTC Demand vs. “Printed” Yield

Where Helios’s borrow demand comes from

• Miners & OTC desks borrow secured BTC at 1 %-4 % APR to smooth cash-flow or hedge exposure. Documentation from Ledn and Antalpha’s $1.6 B loan book confirms these ranges. (Best Bitcoin Loan Rates In 2025: Comparing Leading Providers - Ledn, Miner Weekly: Asia Dominates Antalpha's $1.6B Bitcoin Loan Book)
• Funding on Bitcoin-native perp venues spikes to 16 %–23 % annualized in risk-on periods. (CoinGecko, Hyperliquid Stats)
• A borrower can therefore pay 9 %–15 % APR, remain profitable, and push Helios’s lender APY to 13 %–15 % when utilization > 90 %.

Why competitor yields look larger

Morpho’s 6 % banner is calculated in USD while interest accrues in cbBTC. If BTC rallies 30 %, the displayed USD yield pops even though the cbBTC paid out is unchanged—an optical illusion. Helios quotes and pays only in BTC satoshis, so 3 % means +0.03 BTC on a 1 BTC deposit, regardless of price.

---

Putting It All Together

• Helios base case: 2 %-4 % BTC APY under normal utilization—already 10-100× higher than wrapped-BTC pools on Aave.

• High-demand case: Utilization > 90 % plus protocol rebates drives depositor returns into the 13 %-15 % BTC APY zone, still under automated risk caps.

• Comparative edge: BTC L2 stakings(Babylon, etc.) offers similar headline yield but locks coins for 100 days and pays in points; Morpho inflates USD banners and carries bridge risk; Coinbase Yield Fund inserts CeFi fees and custody.

For Bitcoin holders who want pure Bitcoin, native custody, BTC-denominated clarity, deterministic risk controls, and the capacity to earn > 10 % in true demand spikes Helios now stands out as the most balanced—and occasionally most lucrative—yield venue in the 2025 market.