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
<0.1% of USD stablecoin supply · 37th of 70 USD stablecoins with supply
Peg today
below $1 · 52 USD stablecoins with $1M+ supply, priced today: median 13 bps from $1
Chains
51st of 70 USD stablecoins read on chain · median 2
Holders on BSC
2nd of 7 USD stablecoins scanned on BSC
Share of supply in lending
at least · USD median 4.0%
Best yield
ranked by lower of 30d and spot APY × deposits · Lista Lending · 2.05% base, 0% rewards
lisUSD is a USD stablecoin issued by Lista DAO.
lisUSD is a borrow-side stablecoin on BNB Chain. Users mint and borrow lisUSD against collateral within Lista Lending, the lending product of Lista DAO, and repay to unlock the collateral. Lista DAO says its borrowing products, including the original CDP system, have been unified into Lista Lending. Lista's developer documentation states that the original CDP contracts no longer accept new borrowing, and borrowers with open positions there can still repay and withdraw collateral. Lista's documentation describes lisUSD as collateral backed and soft-pegged to the US dollar. The FAQ says it is "fully over-collateralized by crypto assets such as BNB, ETH, slisBNB and wBETH". For the original CDP, Lista's developer documentation says the borrow rate was set by the DynamicDutyCalculator from the lisUSD price.
That puts lisUSD in the crypto-backed category. Its collateral is other crypto assets held in smart contracts, not cash at a bank. All of the supply the map reads sits on BNB Chain.
Sources: Lista DAO (Lending and the unified CDP; statement supplied by Lista DAO, 2026-10-20), Lista Docs, lisUSD overview, Lista Docs, FAQ (backing, peg, audits, risks), Lista Docs, CDP mechanics (winding down, borrow rate)
76.9M lisUSD in circulation, all on BSC. That is <0.1% of the USD stablecoin supply on the map, 37th largest of 70.
All USD stablecoins, 30d: the change in DeFiLlama circulating supply summed over the 64 USD 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 lisUSD’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 70 active USD 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.
76.9M lisUSD
<0.1% of all USD stablecoin supply, #37 of 70
All supply on BSC
BSC76.9M lisUSD · 100.0%Supply growth
Counted on BSC. Excludes issuer treasuries, includes contracts. Shares are of the supply on BSC less issuer treasuries and burn addresses. This source names no contracts, so they count as holders.
Source: NodeReal.
29,950holders on BSC
2nd of 7 USD stablecoins on BSC
| lisUSD | Median, 7 USD stablecoins on BSC | |
|---|---|---|
| Top holder | 30.0% | 66.0% |
| Top 10 | 95.5% | 99.8% |
| Top 50 | 97.6% | 100.0% |
| Top 100 | 97.7% | 100.0% |
Excludes issuer treasuries, includes contracts. Shares are of the supply on BSC less issuer treasuries and burn addresses. This source names no contracts, so they count as holders.
lisUSD's typical daily move over the last 90 days was 9.5 bps, steadier than 23 of 66 other USD stablecoins.
By default lisUSD sits beside its largest USD peer by current supply. Add more from the picker below the chart. Figures are in basis points: 100 bps = 1%.
Peg volatility is how much lisUSD's price swings around $1 from one day to the next: the standard deviation over 30 or 90 days. A stablecoin that sits steadily at $0.998 scores near zero. Largest deviation is the single day in the last 12 months furthest from $1, signed.
Median of peers, off by default, is the middle value among the peers currently shown; turn it on from the chart's controls.
The ranking counts every active USD 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 $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.
9.5 bps
Peg volatility, 90 days
typical day-to-day swing around $1
Over the last 90 days, lisUSD's daily swings around $1 were smaller than those of 23 of 66 other USD stablecoins.
| Stablecoin | Today | 30d | 90d | Largest |
|---|---|---|---|---|
 lisUSD | −34 bps (−0.34%) | 7.0 bps | 9.5 bps | −66 bps (−0.66%) |
 USDT | −13 bps (−0.13%) | 3.3 bps | 3.6 bps | −21 bps (−0.21%) |
Lista's FAQ states that lisUSD may not always be perfectly pegged to the dollar and can deviate slightly in both directions under stressful market conditions. Lista's documentation says the stablecoins held by the Peg Stability Module play a critical role in keeping lisUSD close to 1 USD. Minting lisUSD from USDT or USDC carries a 0% fee at 1:1. Redeeming lisUSD back into those stablecoins costs 2%, is capped at 500,000 lisUSD a day, and is bounded by what the vault holds. Lista's documentation says the zero mint fee is temporary and may increase if lisUSD trades at a premium.
Sources: Lista Docs, FAQ (peg deviation statement), Lista Docs, Stable Pool and Price Stability Module (fees, caps)
$58.5M of lisUSD is supplied to 6 lending markets on 2 protocols, 76.3% of its onchain supply. The median across the 41 USD stablecoins in lending markets is 4.0%.
At least this much lisUSD 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 lisUSD 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 $1,000 of lisUSD, or pinned at full utilisation with runaway interest is left out.
Token balances are converted to USD at DIA's own price for lisUSD.
Both figures are averages across markets, weighted by how much lisUSD each market holds. A $1B market counts a thousand times more than a $1M one. Markets holding 99% of the balance report an APY.
Ranks and the median compare lisUSD with the 41 USD 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.
$58.5M76.3% of supply
supplied to 6 lending markets on 2 protocols
Median across 41 USD stablecoins in lending markets: 4.0%
65%
Borrowed
share of supplied lisUSD now on loan
2.33%
Average supply APY
weighted by lisUSD balance in each market
By protocol
99%$58.1MBSClisUSD / slisBNB$26.3M2.37%73%BSClisUSD / slisBNB$20.5M3.54%89%BSClisUSD / WBNB$7.2M<0.01%<1%BSClisUSD / BTCB$4.1M0.10%9%BSClisUSD / wBETH$7K0.72%36%1%$356KBSClisUSD$356K24%lisUSD in lending markets, by chain, largest first. The bar is each chain's share of lisUSD's lending balance.
BSCin 6 lending markets100%$58.5MAmong 41 USD stablecoins in lending markets
Top 2 lisUSD 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 |
|---|---|---|---|---|---|---|---|---|
2.05% | 1.96% | OrganicStable | BSC | +0.00% | $58.3M | Lending | ||
0.03%Rewards only | 0.03% | IncentiveIL riskStable | BSC | +0.03% | $363.0K | LP |
Source: DeFiLlama, DexScreener and on-chain balances, updated 1 Nov 2026.
lisUSD in pool is lisUSD's own side of the pool, at its USD price. Pool liquidity counts both sides.
$23.4M of lisUSD sits in 2 DEX pools across 1 DEX.
| DEX | Pair | Chain | Pool liquidity | ▼lisUSD in pool | 24h volume |
|---|---|---|---|---|---|
| lisUSD / USDT | BSC | $27.9M | $23.0M | $12.5K | |
| LP / HAY | BSC | $363.1K | $366.1K | – |
lisUSD is designed to be backed by crypto held as overcollateral.
Collateral
Lista DAO says Lista Lending accepts collateral ranging from crypto majors to tokenized stocks and gold. For the original CDP, Lista's collateral page describes the accepted range as L1 tokens, LSTs and LRTs, naming ETH and BNB as the classic cases. The FAQ names BNB, ETH, slisBNB and wBETH. Lista's Innovation Zone page also lists PancakeSwap LP tokens as collateral for lisUSD. Lista DAO says the CDP has been unified into Lista Lending, and the developer documentation states that the original CDP contracts no longer accept new borrowing.
Other routes in
A Peg Stability Module mints lisUSD from USDT or USDC at a 1:1 ratio. Float that enters this way is backed by a centralized stablecoin rather than by overcollateralized crypto. Lista's documentation put the cap on the module at 5 million lisUSD at launch. Lista's documentation also describes a Direct Deposit Module, which mints lisUSD on credit and deposits it into lending platforms such as Venus, with an initial cap of 2.5 million lisUSD.
Audits
Lista's security page lists code audits by module, firm and month, including a HashDit review of the Liquidation Vault in July 2026 and Bailsec, CertiK and HashDit reviews of the Collateral Yield Vault in June 2026. Those are smart contract audits, not statements about what collateral stands behind the outstanding supply.
Sources: Lista DAO (Lending and the unified CDP; statement supplied by Lista DAO, 2026-10-20), Lista Docs, FAQ (collateral assets named), Lista Docs, CDP collateral types, Lista Docs, Stable Pool and Price Stability Module, Lista Docs, audit reports index, Lista Docs, Lista Innovation Zone (PancakeSwap LP collateral), Lista Docs, CDP (being wound down), Lista Docs, D3M Direct Deposit Module
BSC0x0782b6d8…0bdc41e5mint(address,uint256)eip1967-transparentRead 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)
Who licenses lisUSD's issuer and how its reserves are reported.
None foundlicence tier of Lista DAO
Collateral and liquidation
The original CDP's classic collateral list spans BNB, ETH, slisBNB, wBETH, BTCB, FDUSD, wstETH and USDT. In that CDP, liquidation runs as a Dutch auction whose starting price carries a 2% buffer and then decreases linearly. The worked example in Lista's user docs uses a 66% collateral ratio and a 10% liquidation penalty on the debt, while the developer docs quote the governance-set penalty at 13%. Lista's developer documentation says starting, buying from and restarting auctions is now restricted to a whitelist.
Oracle and parameter risk
The docs list Chainlink, Atlas and RedStone among the price feeds for BNB Chain collaterals, and say collateral assets are migrating progressively onto a Resilient Price Oracle that compares and validates prices across several sources, so during the transition different collateral types sit on different pricing setups. The liquidation penalty and the auction buffer are set by Lista governance. Float minted through the Peg Stability Module carries the redemption risk of the USDT and USDC behind it.
Sources: Lista Docs, loan liquidation (auction, penalty, tip), Lista Docs, multi-oracle and Resilient Price Oracle, Lista Docs, CDP mechanics (governance-set rate, penalty), Lista Docs, Standard Collaterals oracle configuration
lisUSD is borrowed against collateral in Lista Lending, into which Lista DAO says its original CDP system has been unified. Lista's FAQ describes lisUSD as fully over-collateralized by crypto assets such as BNB, ETH, slisBNB and wBETH. lisUSD is also minted through a Peg Stability Module that swaps USDT or USDC into lisUSD at 1:1, and that portion is backed by a centralized stablecoin. Lista's documentation also describes a Direct Deposit Module that mints lisUSD on credit for deposit into lending platforms such as Venus.
Through the Peg Stability Module and a borrow rate that moves with the lisUSD price. Minting lisUSD from USDT or USDC costs a 0% fee at 1:1, while redeeming back into those stablecoins costs 2% and is capped at 500,000 lisUSD a day. Lista's FAQ states that lisUSD may not always be perfectly pegged and can deviate slightly in both directions under stressful market conditions.
The Global Stablecoin Map reads lisUSD on BNB Chain only, at contract 0x0782b6d8c4551b9760e74c0545a9bcd90bdc41e5. Lista's CDP documentation is published for BNB Chain.
Source: DIA onchain reads Updated
Source: NodeReal, BSC Updated
Daily close against the USD peg, in basis points. Drag the handles under the chart to zoom; a range button resets it. The axis spans -300 bps to +100 bps, set by the middle 98% of the closes in view, so one outlier does not flatten the rest. 12 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.
lisUSDSource: DeFiLlama and CoinGecko prices Updated