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 · 49th of 70 USD stablecoins with supply
Peg today
below $1 · 52 USD stablecoins with $1M+ supply, priced today: median 14.5 bps from $1
Chains
25th of 70 USD stablecoins read on chain · median 2
Holders on Ethereum
35th of 43 USD stablecoins scanned on Ethereum
Share of supply in lending
at least · USD median 4.0%
Best yield
ranked by lower of 30d and spot APY × deposits · Aegis Yusd · 30-day avg 5.31%
YUSD is a USD stablecoin issued by Aegis.
YUSD is a synthetic dollar from Aegis, which describes itself as a decentralized protocol governed by a DAO. Aegis calls YUSD a BTC-backed digital dollar that earns yield from Bitcoin perpetual funding rates and operates independently of traditional stablecoin infrastructure. Aegis also offers sYUSD, a staked version, and a second dollar token, jUSD, backed by JLP, the liquidity provider token of Jupiter Perpetuals.
The Aegis proof of solvency dashboard shows YUSD minted on Ethereum, BNB Smart Chain and Avalanche, with most of the supply on Ethereum. The contract address for each chain is in the network configuration of Aegis's public contracts repository. YieldFi's yUSD is a separate token with a similar ticker.
Sources: Aegis, About, Aegis homepage, Aegis Proof of Solvency (Accountable), Aegis contracts repository, network configuration, Etherscan, YieldFi yUSD
34.5M YUSD in circulation across 3 chains; Ethereum carries 95.1%. That is <0.1% of the USD stablecoin supply on the map, 49th 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 YUSD’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.
34.5M YUSD
<0.1% of all USD stablecoin supply, #49 of 70
Ethereum 95.1% · other chains 4.9%
Ethereum32.8M YUSD · 95.1%
BSC1.6M YUSD · 4.7%
Avalanche83.3K YUSD · 0.2%Supply growth
Counted on Ethereum. Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Ethereum less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders. The median column compares stablecoins counted on the same chain. A few of them are read from DIA’s replay state, which leaves contracts in, so a median can mix two rules.
Source: Blockscout.
409holders on Ethereum
35th of 43 USD stablecoins on Ethereum
| YUSD | Median, 40 USD stablecoins on Ethereum | |
|---|---|---|
| Top holder | 12.7% | 16.5% |
| Top 10 | 55.5% | 53.3% |
| Top 50 | 62.4% | 56.9% |
Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Ethereum less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
YUSD's typical daily move over the last 90 days was 7.4 bps, steadier than 29 of 66 other USD stablecoins.
By default YUSD 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 YUSD'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.
7.4 bps
Peg volatility, 90 days
typical day-to-day swing around $1
Over the last 90 days, YUSD's daily swings around $1 were smaller than those of 29 of 66 other USD stablecoins.
| Stablecoin | Today | 30d | 90d | Largest |
|---|---|---|---|---|
| −8 bps (−0.08%) | 8.4 bps | 7.4 bps | −132 bps (−1.32%) | |
 USDT | −13 bps (−0.13%) | 3.3 bps | 3.6 bps | −21 bps (−0.21%) |
$316.3K of YUSD is supplied to 1 lending market on 1 protocol, 0.9% of its onchain supply. The median across the 41 USD stablecoins in lending markets is 4.0%.
At least this much YUSD 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 YUSD 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 YUSD, or pinned at full utilisation with runaway interest is left out.
Token balances are converted to USD at DIA's own price for YUSD.
Both figures are averages across markets, weighted by how much YUSD each market holds. A $1B market counts a thousand times more than a $1M one. Markets holding 100% of the balance report an APY.
Ranks and the median compare YUSD 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.
$316K0.9% of supply
supplied to 1 lending market on 1 protocol
Median across 41 USD stablecoins in lending markets: 4.0%
100%
Borrowed
share of supplied YUSD now on loan
0.18%
Average supply APY
weighted by YUSD balance in each market
By protocol
100%$316KBSCYUSDNo withdrawable balance$316K0.18%100%YUSD in lending markets, by chain, largest first. The bar is each chain's share of YUSD's lending balance.
BSCin 1 lending market100%$316KAmong 41 USD stablecoins in lending markets
Top 3 YUSD 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 |
|---|---|---|---|---|---|---|---|---|
7.31% | — | 5.31% | Stable | Ethereum | — | $32.8M | Lending | |
7.31% | — | 5.31% | Stable | BSC | — | $1.6M | Lending | |
0.01% | 0.03% | LP fees · IL riskVolatile | BSC | +0.00% | $553.8K | LP |
Source: DeFiLlama, DexScreener and on-chain balances, updated 1 Nov 2026.
YUSD in pool is YUSD's own side of the pool, at its USD price. Pool liquidity counts both sides.
$308.5K of YUSD sits in 4 DEX pools across 4 DEXs.
| DEX | Pair | Chain | Pool liquidity | ▼YUSD in pool | 24h volume |
|---|---|---|---|---|---|
| YUSD / USDC | Ethereum | $429.2K | $189.1K | $1 | |
| YUSD / USDC | Avalanche | $102.8K | $81.2K | $11 | |
| YUSD / frxUSD | Ethereum | $40.1K | $20.5K | $1 | |
| YUSD / WBNB | BSC | $20.4K | $17.7K | $836 |
YUSD is designed to be backed by crypto hedged with derivative shorts.
YUSD is synthetic. Aegis says it is backed by Bitcoin spot positions hedged with COIN-M futures, coin-margined perpetual contracts that offset the Bitcoin price exposure and hold YUSD at $1. New YUSD can be created only when USDT or USDC is deposited into the Aegis Mint smart contract. Minting and redemption both use orders signed by the Aegis API and executed on the minting contract on Ethereum.
Aegis says assets stay in custodial wallets through off-exchange settlement, never residing on the exchanges themselves, and names Fireblocks, Copper and CEFFU as custodians. Its proof of solvency dashboard, run by Accountable with a 15-minute retrieval interval, showed total reserves of $34,596,270 against 34,442,403 YUSD in supply at its 3 October 2026 retrieval, a collateral ratio of 100.45%. Copper held $24,464,949 and Fireblocks $10,026,632 of those reserves.
Aegis says it redirects exchange profits into an insurance fund each day and generates new YUSD for holders, who claim it every seven days.
Sources: Aegis homepage, Aegis contracts repository, minting protocol documentation, Aegis Proof of Solvency (Accountable)
Ethereum0xca2671dc…da737cd7addBlackList(address), removeBlackList(address) +10xab3dbcd9…0d22c61faddBlackList(address), removeBlackList(address) +1mint(address,uint256)0x4274cd72…66a8da0aaddBlackList(address), removeBlackList(address) +1mint(address,uint256)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 freeze · mint
Reserves are published as a continuous proof-of-reserves feed.
Reserve attestation cadence
A continuously-updating reserve feed rather than a periodic report.
None foundlicence tier of Aegis
Funding rates can be positive or negative, and they decide whether the short perpetual positions receive or pay funding, so the yield changes with market conditions. The peg depends on those positions offsetting moves in the Bitcoin price, and on the custodians and exchanges that hold the collateral and the positions. The insurance fund held 650,185 YUSD on the dashboard on 3 October 2026.
Sources: Aegis homepage, Aegis Proof of Solvency (Accountable)
Source: DIA onchain reads Updated
Source: DIA rebuild from onchain transfer history (to 11 Aug 2026), Block explorer holder counts (from 12 Aug 2026), Ethereum 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. 1 close sits 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.
Source: DeFiLlama and CoinGecko prices Updated