Stablecoin Risk Ratings

44 stablecoin products graded by peg stability, reserve transparency, and regulatory compliance

Protocols Rated

44

Avg Risk Score

43/100

Total TVL

$38.7B

Fiat-Backed

Backed 1:1 by bank deposits or Treasury bills. Main risk: counterparty and regulatory freeze.

ProtocolProductYieldRiskTVL
USDC
4.7%
B-
USDT
2.5%
C
AUSD
3.9%
C
$162M

Crypto-Collateralized

Overcollateralized DeFi loans (CDPs). Main risk: liquidation cascades and oracle failures.

ProtocolProductYieldRiskTVL
LUSD
1.8%
B+
$156M
DAI/USDS
B-
$5.7B
BOLD
1.6%
B-
$81M
wsrUSD
4.8%
B-
$54M
RSV
B-
$62M
crvUSD
1.7%
C+
$68M
mkUSD
C+
$50M
GHO
3.8%
C-
$13.4B
MIM
D+
$7M

Delta-Neutral / Basis Trade

Hedged perpetual positions capturing funding rates. Main risk: funding rate inversion and exchange counterparty.

ProtocolProductYieldRiskTVL
USDf
4.6%
C
$1.5B
USDe
3.7%
C
$4.3B
sNUSD
6.6%
D+
$186M
USR
2.8%
D+
$31M
deUSD
5.0%
D+
$14

RWA-Backed

Backed by real-world assets (T-bills, credit, commodities). Main risk: redemption delays and custody.

ProtocolProductYieldRiskTVL
mBASIS
8.0%
B-
$116M
USDY
3.5%
C+
$2.7B
USYC
3.1%
C+
$2.9B
XUPL
8.5%
C+
$171M
sAID
9.2%
C
$126M
USDM
4.9%
C-
sUSDai
7.1%
D
$290M

Yield Wrapper

Strategies layered on base stablecoins for enhanced yield. Main risk: smart contract layers and underlying strategy.

ProtocolProductYieldRiskTVL
AUSD
3.9%
B-
$2.1B
coreUSDC
10.0%
B-
$296M
OUSD
3.9%
B-
$45M
USD*
3.6%
B-
$9M
gtUSDa
4.2%
C+
$1.4B
sDOLA
6.6%
C+
$23M
savUSD
8.9%
C+
$93M
sfrxUSD
4.0%
C+
$68M
siUSD
5.7%
C+
$87M
yoUSD
12.0%
C+
$80M
yzPP
12.5%
C+
$49M
yvUSDC
8.0%
C+
$175M
yUTY
8.5%
C+
$21M
sUSDa
7.1%
C+
$1M
sUSDu
9.9%
C
$65M
mPT-sUSDe
15.0%
C
$3M
sUSN
8.9%
C
$29M
msY
11.0%
C
$78M
syrupUSDC
4.7%
C-
$2.0B
USP
56.8%
D+
$17M