Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to the US dollar or another real-world asset. This list covers leading stablecoins including Tether (USDT), USDC, DAI from MakerDAO, and newer entrants like Ethena and Ondo Finance. Understanding the differences in collateral models, decentralization, and redemption mechanisms is key to using them safely.
1
4.9
MakerDAO
MKR
Ethereum
MakerDAO issues DAI, the leading decentralized stablecoin, which maintains its dollar peg through overcollateralization and algorithmic stability mechanisms.
2
4.8
USDC
USDC
$0.999900
24h: 0.0%
USDC is the leading regulated stablecoin issued by Circle, maintaining a transparent 1:1 US dollar peg with regular attestations, widely used as a stable medium of exchange across DeFi and payments.
3
4.7
Tether
USDT
Ethereum
Tether issues USDT, the world's largest stablecoin by market cap, backed by U.S. Treasury bills and cash equivalents, available across virtually every major blockchain.
4
4.4
Noble
Cosmos
Noble facilitates native USDC issuance on Cosmos through its partnership with Circle, providing IBC-connected chains with direct access to USDC without bridges or wrapped tokens.
5
4.3
Frax Finance
FXS
Ethereum
Frax Finance issues FRAX, a fractional-algorithmic stablecoin, and FPI, an inflation-pegged stablecoin, using innovative hybrid collateralization mechanisms.
6
4.2
Ethena
ENA
Ethereum
Ethena issues USDe, a synthetic dollar maintained through delta-neutral hedging strategies using staked ETH and short perpetual futures positions.
7
4.2
Ondo Finance
ONDO
Ethereum
Ondo issues USDY, a yield-bearing stablecoin-like token backed by U.S. Treasuries and bank deposits, offering stable value plus interest to holders.
8
4.2
Paxos
USDP
Ethereum
Paxos issues USDP (Pax Dollar) and PAXG (Pax Gold), regulated stablecoins and tokenized commodities backed by U.S. dollars and physical gold respectively.
9
4.0
Mountain Protocol
USDM
Ethereum
Mountain Protocol's USDM is a regulated yield-bearing stablecoin backed by U.S. Treasury bills that automatically distributes interest to holders through daily rebasing.
10
3.9
OpenEden
Ethereum
OpenEden's TBILL tokens function as yield-bearing stable assets backed by short-dated U.S. Treasury bills, serving as an interest-bearing alternative to traditional stablecoins.
11
3.8
Matrixdock
Ethereum
Matrixdock's STBT is a yield-bearing stable token fully backed by short-term U.S. Treasury bills, functioning as an interest-bearing stablecoin alternative for qualified investors.
12
3.6
Usual
USUAL
Ethereum
Usual issues USD0, a decentralized stablecoin backed by U.S. Treasury bills that redistributes yield to the community through the USUAL governance token.
13
3.5
Celo
CELO
Celo
Celo natively supports multiple algorithmic stablecoins including cUSD, cEUR, and cREAL, providing stable value transfer for everyday payments across different regions.
14
2.8
Acala
ACA
Polkadot
Acala issues aUSD, a decentralized multi-collateral stablecoin on Polkadot, designed to serve as the native stablecoin for cross-chain DeFi across the Polkadot ecosystem.
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