Crypto-backed Stablecoin
Coins in the Crypto-backed Stablecoin category. 8 coins listed. Updated weekly.
Stablecoins are cryptocurrencies designed to maintain a stable value relative to a fiat currency, most commonly the US dollar. Explore the listed coins and compare what they do and how they are categorized.
These groupings help you discover related projects; they are not endorsements. Category tags come from CoinGecko and may overlap. Sharing a category does not mean tokens have identical functions or confer the same rights.
DAI began as an ETH-backed experiment and became a governance-managed dollar target supported by crypto collateral, centralized stablecoins and real-world assets. It remains live beside USDS and converts 1:1 through Sky contracts, but neither the peg nor a fiat-dollar redemption is guaranteed.
Falcon USD is a freely transferable synthetic dollar whose direct issuance and redemption run through Falcon Digital Limited, KYC, custodians and a seven-day cooldown. USDf, yield-bearing sUSDf and governance token FF confer different rights.
GHO is Aave’s dollar-targeted debt asset, issued only through approved facilitators and their bucket limits. Borrower interest feeds the DAO treasury; GSM and CCIP widen liquidity routes, while governance, stewards and guardians retain distinct operational powers.
CoinGecko ID frax now means Legacy Frax Dollar: the 2020 stablecoin at Ethereum address 0x853d…99e. Frax retired its fractional-algorithmic model, briefly promised chain-specific 1:1 upgrades to frxUSD, then separated the two balance sheets and withdrew the DAO guarantee. The bare name FRAX now belongs to the former FXS governance token; the old contract still moves but carries neither that governance right nor frxUSD redemption.
Lista USD (lisUSD) is the BNB Chain stablecoin formerly called HAY. It is minted as collateralized debt and burned on repayment through upgradeable Lista contracts; its dollar target depends on collateral, oracles, liquidations and market incentives rather than a legal claim on bank dollars.
Felix feUSD is an overcollateralized debt token minted from collateral-specific Troves on HyperEVM and linked to HyperCore spot. Its dollar target rests on redemptions, liquidations and Stability Pools, while AdminController roles can change critical branch infrastructure.
fxUSD is the stable liability inside f(x)’s leveraged system, not a vault receipt with a fixed asset list. Its redemption depends on supported markets, oracle state and solvency; rUSD is a separate LRT-backed V1 token.
DOLA kept the same Ethereum token while Inverse Finance replaced the lending machinery around it after two 2022 oracle failures. Today FiRM creates most DOLA debt, while a USDS PSM and authorized Feds provide narrower supply routes.