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
#32 of 98 issuers by supply
Stablecoins issued
median issuer: 1
Chains
read onchain, #6 of 98 issuers
River, formerly Satoshi Protocol, is an omni-chain CDP stablecoin protocol that lets users deposit crypto collateral such as BTC and ETH on one chain and mint the over-collateralized stablecoin satUSD on another.
River, formerly Satoshi Protocol, is an omnichain stablecoin protocol. Its GitHub organisation is named River under the account name Satoshi-Protocol, and the core repository is still named satoshi-core. The organisation describes its work as connecting assets, liquidity and yield across chains.
River's terms of service name no company behind the protocol. River is a protocol, and satUSD is minted by smart contracts.
The feature that sets River apart is its omni-CDP design. A user deposits collateral on one chain and mints satUSD on another, with no bridging or wrapping of the collateral. satUSD moves between chains on LayerZero's omnichain fungible token standard. Accepted collateral is BTC, ETH, BNB and liquid staking tokens.
River also runs satUSD+, a product that lets holders stake satUSD to earn protocol revenue. The Satoshi Protocol V2 upgrade went live in mid-February 2025.
Sources: Satoshi-Protocol GitHub organisation (named River), River blog, Introducing Satoshi Protocol V2, River official site (homepage, archived), River Terms of Service (archived)
satUSD is River's only stablecoin.
satUSD's supply, counted once across its chains.
Supply of every coin River 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.
$87.1M
Read on 10 chains, all in the total
BSC91%$78.9M
BSquared6%$4.9M
BOB2%$1.4M
Ethereum1%$926.7K
Hemi<1%$414.7K
Base<1%$237.6K
Arbitrum<1%$154.9K
X Layer<1%$130.1K
Bitlayer<1%$49.2K
Sonic<1%$33.6KIn DIA's latest read, satUSD sits 61 bps below its USD peg. satUSD's typical daily move over the last 90 days was 37 bps.
Today is DIA's latest daily read of each stablecoin's price against one unit of its peg currency, in basis points: 100 bps is 1% away from the peg, above (+) or below (-).
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.
Attestation cadence is how often an independent accountant's report covers the reserves, where one is published. A stablecoin with none shown has no cadence published.
Stablecoins whose value rises by design, such as savings wrappers, have no peg figures. Their price is a yield curve, not a peg.
| Stablecoin | Today | 90d | Largest | Attestation |
|---|---|---|---|---|
| −61 bps (−0.61%) | 37 bps | −526 bps (−5.26%) | None identified |
satUSD is backed by on-chain collateral, not by a pool of off-chain reserves. River's site names the collateral types as BTC, ETH, BNB and liquid staking tokens. Positions sit in smart contracts, so the collateral balance is readable from chain data.
River publishes smart contract audit reports in a public GitHub repository, satoshi-audit-report. It lists reports from Billh, Scalebit, Supremacy, Zenith and Zellic. They cover protocol v1, protocol v2, the OSHI component, the farm contracts, the smart vault contracts and a points conversion contract. The reports are dated between March 2024 and December 2025; the satUSD page lists each one.
These are code audits. They are not reserve attestations.
Sources: River audit report repository, River official site (homepage, archived), River docs, Audit Reports page (archived)
Redemption sets the floor for satUSD. Holders can redeem satUSD for collateral, and the protocol takes that collateral from the least collateralized positions first, at a cost of the base rate plus 0.5%. Two conditions gate it: the Total Collateral Ratio must be above 110%, and redemptions were closed for the first 14 days after the V1 launch. The live peg figures sit on the satUSD page.
River issues one stablecoin on the map, satUSD. It is a USD-pegged, crypto-backed stablecoin minted against over-collateralised deposits.
satUSD is a single supply that moves across chains, not a separate token per chain. The collateral stays on the chain where it was deposited. Staking into satUSD+ is a separate step.
See the stablecoin explorer for supply by chain.
Sources: River docs, Deployed Contracts (satUSD addresses per chain), River blog, Introducing Satoshi Protocol V2, River official site (homepage, archived), River docs, satUSD+ (archived)
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
