Verify what backs a stablecoin
DIA Value computes intrinsic fair value for stablecoins from reserves and on-chain data, so backing and peg health can be verified.
Supply across all stablecoins
Its one stablecoin
Share of total stablecoin supply
#65 of 98 issuers by supply
Stablecoins issued
median issuer: 1
Chains
read onchain, #76 of 98 issuers
Share of supply in lending
lower bound; below the median issuer (3.3%)
Founded / domicile
US
Felix is an on-chain financial services provider on Hyperliquid offering trading and lending products, including a CDP market where users deposit crypto collateral to mint feUSD, an overcollateralized USD-pegged stablecoin.
feUSD is Felix's only stablecoin.
feUSD's supply, counted once across its chains.
Supply of every coin Felix issues, summed by chain from DIA's own totalSupply() reads of the verified contracts. Each coin's tokens are converted to dollars at DIA's price for that coin, or split pro rata from its market figure where DIA has no price, so coins in different currencies can share one column. Wrapped coins are left out: their supply is already inside the coin they wrap. Each chain shows the same amount as the chain row on each coin's own page.
$8.9M
Read on 1 chain, in the total
Hyperliquid L1100%$8.9MfeUSD's typical daily move over the last 90 days was 27 bps.
Typical daily move is the standard deviation of the daily gap between the price and the peg over the last 90 days. Largest move is the single day in the last 12 months furthest from the peg. Both come from daily closes at 00:00 UTC (DeFiLlama, with CoinGecko where DeFiLlama has no price) and match the figures on each stablecoin's own page.
Stablecoins whose value rises by design, such as savings wrappers, have no peg figures. Their price is a yield curve, not a peg.
| Stablecoin | 90d | Largest |
|---|---|---|
| 27 bps | +204 bps (+2.04%) |
Lending-market supply of Felix's stablecoin. Yield pools live on the stablecoin's own page.
Lower bound: the balance of every Felix coin inside lending markets DIA reads onchain directly, summed. Coins that rebase or wrap another coin are left out, so the balance and the share count the same coins. The figure is gross: most of it is on loan, and borrowed stablecoins can be deposited again. Excludes DEX liquidity, CDP collateral, and any market on a chain or protocol DIA does not yet track.
Share of issued supply is that balance over the onchain supply of all the coins Felix issues, a coin with no lending market included. Coins that rebase or wrap another coin are outside both sides: a rebasing balance moves by contract, and a wrapper's supply is already inside the coin it wraps.
Source: DIA's own reads of each lending contract. Balances, supply rates and utilisation all come from the same read. A market not refreshed in the last 3 days, holding under $1,000, or pinned at full utilisation with runaway interest is left out.
At least one Felix coin has no DIA price on file, so part of this figure is converted using an aggregated market data price instead of DIA's own read.
Supply APY and borrowed are averages weighted by each market's balance, over the markets that report them: 100% for borrowed. Borrowed is the share of supplied stablecoins now on loan.
$8K
supplied to 1 lending market on 1 protocol
55%
Borrowed
share of supplied stablecoins now on loan
100%$8KHyperliquid L1feUSD$8K55%Hyperliquid L1in 1 lending market100%$8KEach issuer's share is its stablecoins' combined balance in the lending markets DIA reads, over their combined onchain supply. Stablecoins that rebase or wrap another stablecoin are left out of both sides. It leaves out DEX liquidity, CDP collateral and lenders DIA does not read yet, so every share is a lower bound measured the same way, and the ranking compares like with like.
The ranking counts the 43 issuers with any balance in those markets, highest share first. The median is the middle issuer of those 43.
<0.1%
of issued supply sits in the lending markets DIA reads
Lower bound: leaves out DEX liquidity, CDP collateral and lenders DIA does not read yet.
Below the median issuer (3.3%)
A protocol or DAO with no issuing legal entity, where the absence of a licence is the design rather than a gap in our records.
Summed by recorded day (daily for the last year, weekly before that). This chart is DeFiLlama circulating supply. The headline figure above is mostly DIA’s onchain reads, with DeFiLlama where DIA does not read, so the last point can differ from it.
Source: DeFiLlama circulating supply Updated