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
3.6% of EUR stablecoin supply · 4th of 16 EUR stablecoins with supply
Peg today
below 1 EUR
Chains
2nd of 15 EUR stablecoins read on chain · median 4
Holders on Gnosis
Share of supply in lending
at least · EUR median 26.0%
Best yield
ranked by lower of 30d and spot APY × deposits · Aave V3 · 3.06% base, 0% rewards · 30-day avg 2.51%
EURe is a EUR stablecoin issued by Monerium, launched on 18 Nov 2019.
25.9M EURe in circulation across 7 chains; Gnosis carries 55.7%. That is 3.6% of the EUR stablecoin supply on the map, 4th largest of 16.
All EUR stablecoins, 30d: the change in DeFiLlama circulating supply summed over the 16 EUR stablecoins with a reading at both ends of the window. Wrappers and rebasing stablecoins are left out. It is DeFiLlama’s figure, not a DIA read.
Source: DIA first-party onchain reads, the series the chart draws. Each figure is the change in the supply DIA reads across EURe’s chains between two daily snapshots. Not mints minus redeems: DIA does not publish issuance flow.
Share and rank are against the combined supply of the 16 active EUR stablecoins on the map, each valued at DIA’s own read and price where DIA holds one and at DeFiLlama’s circulating figure otherwise. Wrappers are left out, as in every total on the map.
25.9M EURe (US$29.0M)
3.6% of all EUR stablecoin supply, #4 of 16
Gnosis 55.7% · other chains 44.3%
Gnosis14.4M EURe · 55.7%
Arbitrum5.4M EURe · 20.8%
Ethereum3.1M EURe · 12.1%
Polygon2.6M EURe · 10.0%
Noble215.9K EURe · 0.8%
Linea139.1K EURe · 0.5%
Base21.7K EURe · <0.1%Supply growth
Counted on Gnosis. Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Gnosis less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
Source: Blockscout.
43,643holders on Gnosis
| EURe | |
|---|---|
| Top holder | 9.8% |
| Top 10 | 29.1% |
| Top 50 | 43.8% |
| Top 100 | 50.6% |
Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Gnosis less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
How far EURe trades from its EUR peg, from DIA's daily price reads.
Figures are in basis points: 100 bps = 1%.
Peg volatility is how much EURe's price swings around 1 EUR from one day to the next: the standard deviation over 30 or 90 days. A stablecoin that sits steadily at 0.998 EUR scores near zero. Largest deviation is the single day in the last 12 months furthest from 1 EUR, signed.
The ranking counts every active EUR stablecoin with at least two daily prices in the last 90 days.
Prices are daily closes at 00:00 UTC, from DeFiLlama with CoinGecko where DeFiLlama has no price. The chart beside this panel plots those same daily closes, so every figure in the table can be found on a line here. DeFiLlama quoted rounded and filled prices until 30 September 2025, so for USDT and USDC the closes before 1 October 2025 are the median of exchange closes instead, and a filled US$1.0000 close is left out of the typical move and the largest move.
Stablecoins whose value rises by design, such as savings wrappers, are left out. Their price is a yield curve, not a peg.
Only USD stablecoins are compared. Other currencies are priced through a daily exchange rate fixed at a different time of day from the stablecoin's close. That gap shows up as the same false depeg on every stablecoin of the currency at once.
For a EUR stablecoin, the largest deviation leaves out days when most other EUR stablecoins closed the same distance from par on the same side: that move is the exchange rate, not EURe. A move EURe makes alone, or a discount it holds while the others stay at par, is kept.
23 bps
Peg volatility, 90 days
typical day-to-day swing around 1 EUR
Leaves out 28 days when most other EUR stablecoins moved the same way. The EUR exchange rate is taken at a different time from the close, so a move shared by the whole currency is timing, not a depeg. The chart still shows those days.
| Stablecoin | Today | 30d | 90d | Largest |
|---|---|---|---|---|
 EURe | −24 bps (−0.24%) | 31 bps | 23 bps | −171 bps (−1.71%) |
US$15.0M of EURe is supplied to 5 lending markets on 3 protocols, 51.7% of its onchain supply. The median across the 5 EUR stablecoins in lending markets is 26.0%.
At least this much EURe is supplied to lending markets DIA reads onchain, where it can be borrowed. The figure is gross: most of it is on loan, and a borrower can deposit borrowed EURe again, so the same money can count more than once. Coins posted only as isolated collateral (Morpho-style) are not counted. Excludes DEX liquidity, CDP collateral, and chains or protocols DIA does not yet track.
Source: DIA's own reads of each lending contract. Balances, supply and borrow rates and utilisation all come from the same read. A market not refreshed in the last 3 days, holding under US$1,000 of EURe, or pinned at full utilisation with runaway interest is left out.
Token balances are converted to USD at DIA's own price for EURe.
Both figures are averages across markets, weighted by how much EURe each market holds. A US$1B market counts a thousand times more than a US$1M one. Markets holding 100% of the balance report an APY.
Ranks and the median compare EURe with the 5 EUR stablecoins that have a published lending balance on this map, each measured the same way. Coins with no balance in a market DIA reads are not in the median.
US$15.0M51.7% of supply
supplied to 5 lending markets on 3 protocols
Median across 5 EUR stablecoins in lending markets: 26.0%
78%
Borrowed
share of supplied EURe now on loan
3.07%
Average supply APY
weighted by EURe balance in each market
By protocol
98%US$14.8MGnosisEUReUS$14.8M3.11%78%
2%US$225KArbitrumEURe / WBTCUS$168K0.43%43%ArbitrumEURe / wstETHUS$55K1.19%68%ArbitrumEURe / WETHUS$2K0.29%51%<1%US$18KGnosisEUReUS$18K<0.01%<1%EURe in lending markets, by chain, largest first. The bar is each chain's share of EURe's lending balance.
Gnosisin 2 lending markets98%US$14.8MArbitrumin 3 lending markets2%US$225KAmong 5 EUR stablecoins in lending markets
Top 5 EURe pools by TVL with a quoted APY.
TVL is what is deposited in the pool. For lending pools, that is before loans are taken out.
| APY | Composition | 30d avg | Quality | Protocol | Chain | Rewards | ▼TVL | Type |
|---|---|---|---|---|---|---|---|---|
3.06% | 2.51% | OrganicStable | Gnosis | +0.00% | US$14.7M | Lending | ||
3.00% | 3.00% | IncentiveIL riskStable | Arbitrum | +2.92% | US$1.7M | LP | ||
2.97% | 2.62% | LP fees · IL riskStable | Gnosis | +0.00% | US$226.1K | LP | ||
9.94% | 10.74% | LP fees · IL riskStable | Ethereum | +0.00% | US$176.7K | LP | ||
7.71% | 5.54% | LP fees · IL riskStable | Arbitrum | +0.00% | US$122.0K | LP |
Source: DeFiLlama, DexScreener and on-chain balances, updated 1 Nov 2026.
EURe in pool is EURe's own side of the pool, at its USD price. Pool liquidity counts both sides.
US$168.2K of EURe sits in 3 DEX pools across 2 DEXs.
| DEX | Pair | Chain | Pool liquidity | ▼EURe in pool | 24h volume |
|---|---|---|---|---|---|
| EURe / EURC | Ethereum | US$176.8K | US$96.2K | US$82.1K | |
| EURe / USDC | Arbitrum | US$114.7K | US$56.0K | US$30.9K | |
| EURe / USDC | Linea | US$16.6K | US$16.0K | US$1.0K |
EURe is designed to be backed by cash and money-market assets.
Gnosis0x0c06ccf3…ca9f44f8mint(address,uint256)eip1967-uups0xbf6e2966…c8aa762cmint(address,uint256)eip1967-uups0x39b8b638…1895279dmint(address,uint256)eip1967-uups0x420ca0f9…e5fa3430mint(address,uint256)eip1967-uups0x3ff47c5b…4062428dmint(address,uint256)eip1967-uups0xe0aea583…c73fea8dmint(address,uint256)eip1967-uupsContract controls are not read on Noble yet.
Read from the deployed contract and its account on each chain. A control with no row is one the read could not settle, which is not the same as absent. “No” appears only where the verified contract source lists every function, or where the chain records that the control cannot exist, such as a package published as immutable.
Contract can mint · upgrade (proxy)
An annual attestation or audited statements are published.
Source: DIA onchain reads Updated
Source: Blockscout, Gnosis Updated
Daily close against the EUR peg, in basis points. Drag the handles under the chart to zoom; a range button resets it. The axis spans -200 bps to +200 bps, set by the middle 98% of the closes in view, so one outlier does not flatten the rest. 2 closes sit beyond it, drawn on the edge with a triangle. The tooltip shows the true value.
The dotted vertical lines mark market stress events: days the whole market, or a stablecoin others hold as collateral, came under stress. Seeing every stablecoin on the same shock shows how each peg held. Only events with a published source are marked. Each entry under the chart shows every stablecoin's worst daily close within 3 days of the event.
Crypto sold off with global markets as Covid spread, ETH lost close to half its price, and a congested Ethereum let bidders win MakerDAO collateral auctions for zero DAI.
Bitcoin fell as much as 30% to about $30,000 after Chinese industry bodies warned banks off crypto, and more than $8 billion of positions were liquidated.
Terra's algorithmic stablecoin UST fell to about $0.65 as LUNA slid, the start of a run that wiped out both within days.
Tether's USDT fell to about 95 cents on some exchanges as UST collapsed, and recovered after Tether processed more than $3 billion of redemptions.
Crypto lender Celsius paused withdrawals citing extreme market conditions, as the discount of stETH to ETH reached a record 8%.
FTX halted customer withdrawals after about $6 billion left the exchange in 72 hours, and filed for bankruptcy days later.
Circle disclosed $3.3 billion of USDC reserves held at the failed Silicon Valley Bank, and USDC traded as low as $0.87 intraday, closed 11 March near $0.96 (the low a daily-close chart shows) and regained its peg on 13 March.
A reentrancy bug in old Vyper compiler versions let attackers drain over $70 million from Curve pools run by JPEG'd, Metronome and Alchemix.
A Bank of Japan rate rise set off an unwind of yen carry trades, and bitcoin fell to about $49,000 as crypto futures saw over $1 billion of liquidations.
North Korea's Lazarus Group took about $1.5 billion of ETH and stETH from Bybit's cold wallet, and the exchange saw over $4 billion of withdrawals.
Sweeping US tariffs on trading partners set off a global selloff, and bitcoin fell to about $74,500.
A 100% US tariff threat on Chinese imports set off the largest liquidation in crypto history, over $19 billion in a day, and USDe traded as low as $0.65 on Binance.
An attacker drained about $128 million from Balancer V2 pools on six chains through a rounding error in the pool maths.
Stream Finance disclosed a $93 million loss by an external fund manager and froze withdrawals, and its xUSD fell as low as $0.25.
Stables Labs' synthetic dollar USDX fell below $0.60 as redemptions ran ahead of its hedged positions, and lending markets that took it as collateral froze.
Bitcoin fell below $80,000 over a thin-liquidity weekend amid US and Iran tensions, liquidating about $2.5 billion of long positions in a day.
Bitcoin dropped more than 10% in a day to about $63,000, its worst one-day fall since the FTX collapse, as silver, software stocks and US indexes fell with it.
An attacker with a compromised minting key created about 80 million unbacked USR and sold them for roughly $25 million, and USR fell below $0.30.
A forged LayerZero message released 116,500 unbacked rsETH, about $292 million, and Aave, Spark and Fluid froze rsETH markets.
An attacker took over StablR's 1-of-3 minting multisig and minted about $13.5 million of unbacked USDR and EURR, and the issuer froze both coins.
Bitcoin slid below $62,000 on higher-for-longer rate bets and ETF outflows, and about $3 billion of leveraged positions were liquidated over two days.
EUReSource: DeFiLlama and CoinGecko prices Updated