Stablecoin Risk Ratings

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

Protocols Rated

44

Avg Risk Score

42/100

Total TVL

$51.2B

Fiat-Backed

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

ProtocolProductYieldRiskTVL
USDC
4.2%
B-
USDT
3.6%
C+
AUSD
3.9%
C
$166M

Crypto-Collateralized

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

ProtocolProductYieldRiskTVL
LUSD
3.1%
B
$159M
GHO
4.8%
B-
$24.3B
DAI/USDS
B-
$6.2B
BOLD
1.3%
B-
$99M
RSV
B-
$113M
wsrUSD
4.8%
B-
$221M
crvUSD
0.9%
C+
$72M
mkUSD
C+
$50M
MIM
D+
$9M

Delta-Neutral / Basis Trade

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

ProtocolProductYieldRiskTVL
USDf
5.4%
C+
$1.6B
USDe
3.5%
C-
$5.9B
USR
2.8%
D+
$74M
sNUSD
8.7%
D+
$186M
deUSD
5.0%
D+
$328,000

RWA-Backed

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

ProtocolProductYieldRiskTVL
mBASIS
8.0%
B-
$208M
XUPL
8.5%
C+
$6M
USYC
3.1%
C+
$2.3B
USDY
3.5%
C+
$2.8B
sAID
10.5%
C
$202M
USDM
5.0%
C-
sUSDai
7.1%
D
$272M

Yield Wrapper

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

ProtocolProductYieldRiskTVL
AUSD
3.9%
B-
$1.8B
coreUSDC
2.4%
B-
$332M
OUSD
0.1%
B-
$56M
sDOLA
10.7%
B-
$22M
sfrxUSD
4.3%
C+
$70M
gtUSDa
4.5%
C+
$1.3B
USD*
3.8%
C+
$16M
siUSD
6.5%
C+
$111M
yvUSDC
8.0%
C+
$199M
yoUSD
12.0%
C+
$80M
yzPP
12.5%
C+
$70M
sUSDa
7.1%
C+
$3M
savUSD
6.5%
C+
$126M
sUSDu
8.3%
C
$98M
yUTY
8.5%
C
$21M
mPT-sUSDe
15.0%
C
$4M
sUSN
7.0%
C
$27M
msY
11.0%
C
$47M
syrupUSDC
4.2%
C-
$1.9B
USP
28.1%
D+
$15M