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Market cap
DIA price
Total supply
Holders
91.0M cUSD
1,846holders
What the top-10 is
Shares of the same supply as Top-10, from public address labels covering 96.0% of the top-10 balance. Exchange custody is one address holding for many end holders. Unattributed means unlabelled, not self-custodied.
Measured on Ethereum. Shares are of the Ethereum supply, not the multi-chain total.
+$2.1Msince Fri, Aug 28 UTC
Change in the supply DIA reads across this coin’s chains, between two daily snapshots. Not mints minus redeems: DIA does not publish issuance flow.
Market data · CoinGecko
Market data · CoinGecko
Circulating supply · DeFiLlama
Aggregator figure, not a contract read. DIA’s own onchain supply is the separate series below.
Percentage change in cUSD's circulating supply as reported by DeFiLlama, measured against that source's own past. It is not a change in the onchain supply above, which DIA reads from the contracts directly and which is a different measurement of the same coin. A dash means the map has no reading close enough to the start of the window, a stretch inside it where supply was not reported at all, or a starting figure too small for a percentage to describe. Hover a dash for which.
$23.79
deployed across 1 market on 1 protocol
Lower bound: cUSD's balance inside lending markets DIA reads on-chain directly. Excludes DEX liquidity, CDP collateral, and any market on a chain or protocol DIA does not yet track.
DIA price
$0.9300
Peg deviation
-700 bps
Peg currency
USD
Primary use
—
Last snapshot
Fri, Sep 4 UTC
cUSD is a dollar token minted by a vault contract on Ethereum against whitelisted reserve assets. Cap's documentation sets the test for what qualifies: "Only regulated dollar-denominated crypto assets are accepted as a backing assets." Deposits mint cUSD at roughly 1:1, under a dynamic fee that rises as an asset drifts from its target share of the basket, with a floor of 10 basis points and a cap of 5%.
The reserves do not sit still. Whitelisted borrowers draw them out as loans secured by collateral that restakers delegate through EigenLayer and Symbiotic. If a borrower defaults, underwriter collateral is liquidated before lenders take a loss.
The map records Cap Labs as issuer and classifies cUSD as a synthetic dollar pegged to the US dollar.
How the basket is read
Cap documents the read: call assets() on the cUSD contract for the ordered list of backing assets, then totalSupplies for each. Cap's documentation carries no inventory of the reserve itself, so the composition of the basket is visible only on chain.
What is not published
The word attestation appears nowhere in Cap's documentation. No accounting firm is named and no reserve opinion is published. Checking the basket means reading the vault contract.
Two readings, 243 basis points apart
The map's price read for cUSD is $0.9757, about 243 basis points below the dollar. That price, and the supply figures on this page, are DIA first-party registry data. Cap's documentation tells integrators not to price cUSD from pools. Its price sources page says DEX liquidity is often shallow, because mint and redeem already offer a direct on-ramp and off-ramp, and that spot or TWAP prices there can be "noisy, easy to move, or unrepresentative" of the price implied by reserves and the protocol oracle.
What a recommended feed reports
The DefiLlama Coins API, which Cap's docs name as a recommended feed, returned about $0.9998 for the token at 09:51:50 UTC on 19 August 2026.
What redemption pays
Redemption is proportional across the whole basket. Cap's docs call a depeg of any underlying asset a "last man standing problem" and say the protocol incentivizes proportional withdrawal, "effectively socializing the losses."
Sources: Cap protocol documentation, full text export, DefiLlama Coins API current price for cUSD on Ethereum
No regulatory licence is claimed anywhere in Cap's documentation. The protocol, in its own words, "operates without reliance on third-party custodians, regulatory frameworks, or manual oversight." No incorporating entity, jurisdiction or governing law is named in the documentation.
Where the credit risk sits
Reserve assets are lent to whitelisted borrowers. Repayment depends on those borrowers and, on default, on liquidating underwriter collateral at auction. Cap restricts that collateral to "blue-chip cryptocurrencies: ETH, wBTC, Liquid Staking Tokens (LSTs), and stablecoins." Its own risk page says redemptions "may be delayed if the reserve assets are fully utilized."
Delays built into the guarantee
EigenLayer imposes a 17.5 day allocation configuration delay before delegated collateral counts as effective. Symbiotic vault epochs run 7 days and withdrawals take 8 to 14 days. Cap lists platform risk from shared security marketplaces among its own risks.
Code and third parties
Cap's public audit repository holds nine PDF reports, with filenames dated from 2025-03-17 to 2026-03-24 and naming Zellic, Trail of Bits, Electisec, Spearbit, Recon, Sherlock, Certora and Octane. Holder protections are "enforced exclusively by code-based adherence to Cap's protocol rules." Idle backing assets are deposited into Aave and Morpho, two lending markets the map tracks, and Cap names those protocols' risk as its own.
Sources: Cap protocol documentation, full text export, Cap Labs public audit report repository
What the map reads
The Global Stablecoin Map tracks cUSD on Ethereum only, at 0xcccc62962d17b8914c62d74ffb843d73b2a3cccc, the address Cap's docs list for the Ethereum mainnet Cap Vault. The registry holds 86,527,351.95 cUSD outstanding, all of it on Ethereum, with 1,889 holders and a region of global.
What sits outside it
Cap's address page also lists cUSD on MegaETH, Tempo and Katana. On those networks the token is an L2Token, a LayerZero OFT representing bridged cUSD, and that supply is not in the map's figure. stcUSD, the staked yield-bearing version, is a separate contract with no page on the map.
Whitelisted dollar-denominated crypto assets held by the cUSD vault contract on Ethereum. Cap's documentation carries no reserve inventory, so the composition is read from the contract: call assets() for the ordered list of backing assets, then totalSupplies for each.
No. The word attestation appears nowhere in Cap's documentation, and no accounting firm or reserve opinion is named. Cap states that it operates without reliance on third-party custodians or regulatory frameworks, so verifying the basket means reading the vault contract.
Cap's documentation says DEX liquidity for cUSD is shallow and that pool prices can be noisy or unrepresentative, because mint and redeem already offer a direct on-ramp and off-ramp. The DefiLlama feed read about $0.9998 on 19 August 2026, while the map's market read was $0.9757.
The map records Cap Labs as the issuer. Cap's documentation names no incorporating entity, jurisdiction or governing law.
0xcccc6296…b2a3ccccExplorer ↗Supply on this page is read from these contracts. Addresses are verified by DIA against the issuer’s own published documentation.
0xcccc6296…b2a3ccccpaused()eip1967-uupsRead from the deployed contract. “Not determined” means the contract’s full function set could not be enumerated, not that the capability is absent: a bytecode scan can confirm that a function exists and can never prove that one does not.