Stablecoins Overview
Explore all the stablecoins supported across our DeFi protocols. Each stablecoin offers unique features, risk profiles, and yield opportunities for your portfolio.
Market Overview
USD Coin
USDC is a fully collateralized US dollar stablecoin. USDC is issued by regulated financial institutions, backed by fully reserved assets, redeemable on a 1:1 basis for US dollars.
Key Features
- ✓Fully collateralized
- ✓Regulated issuer
- ✓1:1 USD backing
- ✓Transparent reserves
- ✓Wide adoption
Tether
Tether is a stablecoin pegged to the US Dollar. 1 USDT = 1 USD. Tether converts cash into digital currency, to anchor or tether the value to the price of national currencies.
Key Features
- ✓Largest market cap
- ✓High liquidity
- ✓Multi-chain support
- ✓Wide exchange adoption
- ✓Fast transactions
Dai
Dai is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Dai is maintained and regulated by MakerDAO, a decentralized autonomous organization.
Key Features
- ✓Decentralized governance
- ✓Crypto collateralized
- ✓Overcollateralized
- ✓Community controlled
- ✓Transparent operations
Ethena USD
eUSD is a synthetic dollar protocol built on Ethereum that provides a crypto-native solution for money not bound by geography. It offers a stable, scalable, and censorship-resistant form of money.
Key Features
- ✓Synthetic dollar
- ✓High yield potential
- ✓Crypto-native design
- ✓Delta-neutral strategy
- ✓Innovative mechanism
USDe
USDe is a synthetic dollar protocol that provides a stable, scalable, and censorship-resistant form of money. It uses a delta-neutral strategy to maintain its peg.
Key Features
- ✓Delta-neutral strategy
- ✓High yield opportunities
- ✓Crypto-native design
- ✓Innovative mechanism
- ✓Growing adoption
Frax
Frax is a fractional-algorithmic stablecoin protocol. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum.
Key Features
- ✓Fractional-algorithmic
- ✓AMO mechanism
- ✓FXS governance token
- ✓Multi-chain deployment
- ✓Innovative design
Liquity USD
LUSD is a decentralized, interest-free stablecoin that is backed by ETH. It is the native stablecoin of the Liquity protocol, which is a decentralized borrowing protocol.
Key Features
- ✓Interest-free borrowing
- ✓ETH collateralized
- ✓Decentralized protocol
- ✓No governance token
- ✓Minimal fees
Magic Internet Money
MIM is a stablecoin that is backed by interest-bearing tokens. It is designed to be a stable, decentralized, and censorship-resistant form of money.
Key Features
- ✓Interest-bearing collateral
- ✓High yield potential
- ✓DeFi native
- ✓Innovative mechanism
- ✓Growing ecosystem
Stablecoin Comparison
| Stablecoin | Type | Market Cap | Avg APY | Risk Level | Protocols |
|---|---|---|---|---|---|
USD Coin USDC | Fiat-Backed | $32.5B | 4.2% | Low | AAVEPendleGearboxSpark Lend |
Tether USDT | Fiat-Backed | $95.2B | 3.8% | Low | AAVEPendleGearboxStargate |
Dai DAI | Crypto-Backed | $5.1B | 5.1% | Medium | AAVEPendleGearboxSpark Lend |
Ethena USD eUSD | Hybrid | $2.8B | 8.5% | Medium | PendleGearbox |
USDe USDe | Hybrid | $1.2B | 7.9% | Medium | PendleGearbox |
Frax FRAX | Hybrid | $650M | 6.2% | Medium | AAVEPendle |
Liquity USD LUSD | Crypto-Backed | $180M | 4.8% | Medium | AAVEPendle |
Magic Internet Money MIM | Crypto-Backed | $45M | 9.2% | High | Pendle |
Start Earning on Stablecoins
Compare yields across all stablecoins and protocols to find the best opportunities for your stablecoin holdings.