Historical yield (APY or APR) refers to the actual returns users have earned over time by participating in yield-generating protocols, typically expressed as an Annual Percentage Yield (APY) or Annual Percentage Rate (APR). In the context of the Stacks ecosystem and Leather, this includes BTC earned through traditional Stacking, sBTC or STX earned via DeFi protocols, and other emerging assets integrated into Bitcoin-secured applications.
APY accounts for compounding over the year—i.e., reinvesting earnings to generate additional returns—while APR reflects a flat annualized rate without compounding.
While both serve as benchmarks, APY tends to give a more holistic picture when rewards are reinvested or auto-compounded, as seen in some liquid Stacking or DeFi vaults.
Historical yield is important because it gives users transparency into real-world performance—not just advertised or theoretical returns. By viewing what rewards have actually been distributed over time, users can better compare different providers, pools, or protocols, and calibrate their expectations more accurately.
In pooled Stacking, historical yield typically refers to BTC received over prior reward cycles. These yields can vary depending on how often the pool was eligible for reward slots, the amount of STX delegated to it, and fluctuations in network-wide participation. Leather presents this data directly in-app, showing users past BTC payouts over a range of timeframes.
In liquid Stacking, users receive yield-bearing tokens like stSTX or LiSTX, which may pass on rewards in BTC, STX, or even synthetic assets like sBTC. Historical yield here can reflect more variability depending on the smart contracts involved and whether the protocol reinvests rewards or distributes them directly. Leather supports display of these historical metrics where partners provide them, helping users evaluate DeFi-integrated yield sources with greater clarity.
Beyond Stacking, other yield sources are emerging in the Stacks ecosystem—such as sBTC lending, STX liquidity mining, or DeFi vault strategies. Each may offer historical APY or APR data in their interfaces. Leather helps aggregate and surface this data wherever possible, giving users a unified view of past performance across protocols.
Evaluating historical yield is especially helpful for comparing different strategies. For example, one pool might consistently offer BTC yield via traditional Stacking, while another DeFi strategy may offer higher APY in STX but carry more risk. Historical returns don’t guarantee future performance, but they help users decide where to allocate capital based on proven outcomes.
Importantly, all historical yield displayed in Leather reflects non-custodial participation—you stay in control of your funds, while the wallet surfaces data from verified partners and protocols. Whether you’re comparing BTC rewards from Stacking or STX rewards from a DeFi pool, you’re viewing real, protocol-level performance metrics, not projections.
Ultimately, historical yield is a cornerstone metric for evaluating Bitcoin-based and Bitcoin-adjacent returns in the Stacks ecosystem. With Leather, users can access this data directly in the wallet, compare across providers, and confidently choose yield strategies that align with their risk profile and financial goals.
