Yala connects Bitcoin liquidity with a meta yield stablecoin. Designed as both a potent asset and a liquidity enhancer, the stablecoin, yU, operates across various ecosystems, increasing efficiency without the need for bridges or relocating the underlying Bitcoin. Yala empowers Bitcoin holders and ecosystem participants with expanded utility, all while maintaining the security of Bitcoin’s infrastructure.
Yala |
DeFi、Lending、Stablecoin Protocol
| | Bitcoin Lending Protocol |
516
|
239
|
Ethena is building derivative infrastructure to enable Ethereum to transform into the Global Internet Bond via delta-neutral positions on stETH, to create the first crypto-native, yield bearing stablecoin: USDE.
EthenaENA |
DeFi、Stablecoin Protocol
| | ETH based delta-neutral stablecoin |
1.99 K
|
162
|
Resolv is a delta-neutral stablecoin protocol revolves around tokenizing a market-neutral portfolio. The architecture is based on an economically viable and fiat-independent yield source. This allows to distribute competitive returns to liquidity providers of the protocol.
ResolvRESOLV |
DeFi、Stablecoin Protocol
| | Delta-neutral stablecoin protocol |
543
|
137
|
Aave is a decentralized finance protocol for borrowing and lending, where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion. AAVE is used as the center of gravity of Aave Protocol governance, allowing users to vote and decide on the outcome of Aave Improvement Proposals (AIPs). Additionally, AAVE can be staked within the protocol's Safety Module to provide security/insurance to the protocol and depositors. Stakers earn staking rewards and fees from the protocol.
AaveAAVE |
DeFi、Lending、Stablecoin Protocol
| | Decentralized lending-borrowing protocol |
3.09 K
|
125
|
Plasma is a scalable payment and financial infrastructure based on Bitcoin that allows users to pay gas fees with BTC. Plasma aims to optimize the adoption of stablecoins, providing features such as PlasmaBFT consensus, high scalability through Reth client, custom gas mechanism, zero-fee USDT transfers, and privacy transactions.
Plasma |
Infra、Payment、Stablecoin Protocol
| -- | Stablecoin payments and financial infrastructure |
1.02 K
|
102
|
Sky is a peer-to-contract lending platform that enables over-collateralized loans by locking Ether in a smart contract and minting Dai, a stablecoin pegged to the US dollar. Dai's stability is achieved through a dynamic system of collateralized debt positions, autonomous feedback mechanisms, and incentives for external actors. Once generated, Dai can be sent to others, used as payments for goods and services, or held as long-term savings.
SkyMKR |
DeFi、Lending、RWA、Stablecoin Protocol
| | Decentralized lending platform |
3.31 K
|
100
|
Usual is a fiat-backed stablecoin protocol that plans to launch USD0, a permissionless and fully compliant stablecoin backed 1:1 by real-world assets (RWAs), and USUAL, a governance token that allows the community to guide the future evolution of the network. Usual addresses current stablecoin market issues by redistributing profits to the community, rewarding token holders with real yields generated by the RWAs.
UsualUSUAL |
DeFi、RWA、Stablecoin Protocol
| | RWA stablecoin protocol |
834
|
86
|
Lista DAO is a decentralized stablecoin lending protocol powered by LSDfi. Users can undergo staking and liquid staking on Lista, as well as borrow lisUSD against a variety of decentralized collateral. Lista aims to position lisUSD as the number one stablecoin in the crypto space, leveraging on innovative liquid staking solutions.
Lista DAOLISTA |
DeFi、Lending、LSD、Stablecoin Protocol
| | Open-source liquidity protocol for borrowing and earning yield |
631
|
78
|
CAP is a stablecoin engine to break users free from the cycle of endogenous models. CAP’s stablecoin engine will produce redeemable stablecoins of various denominations, such as USD, BTC, and ETH. Their goal will be to democratize access to what was previously only available to a few sophisticated and already-wealthy actors. This includes the deepest wells of yield, such as arbitrage, MEV, and RWAs.
CAP |
DeFi、Stablecoin Protocol
| | Stablecoin engine |
454
|
75
|
The Reserve Protocol is a decentralized stablecoin platform that aggregates tokenized assets to create a fully decentralized stable cryptocurrency (RTokens). The ultimate goal of the Reserve Protocol is to provide an alternative to fiat currency. In January 2024, Reserve announced the establishment of two new companies, ABcLabs and Confusion Capital, with the former focusing on the development and promotion of the Reserve Protocol and the latter focusing on the development of the ecosystem.
Reserve protocolRSR |
DeFi、Stablecoin Protocol
| | Decentralized stablecoins platform |
700
|
75
|
StandX is a perpetual DEX that enables users to trade with yield-earning margins. DUSD is StandX's first product - a yield-bearing stablecoin.
StandX |
DeFi、Derivatives、Perp、Stablecoin Protocol
| | Perpetual DEX |
189
|
74
|
Avalon Labs is a BTCFi protocol aims to increase the use of Bitcoin within its platform by allowing users to unlock the value of their holdings by using them as collateral to obtain USDa. Avalon Labs also offers financial products such as Bitcoin-backed loans, interest-bearing savings accounts, and a credit card.
Avalon LabsAVL |
DeFi、Lending、Stablecoin Protocol
| | Omnichain Liquidity for BTCFi |
631
|
73
|
River is building the circulatory system for crypto, connecting capital, liquidity, and yield across chains. Powered by the omni-CDP stablecoin protocol, it lets users earn, leverage, and scale—without selling their assets. satUSD is an over-collateralized stablecoin backed by BTC, ETH, BNB, and other liquid staking tokens (LSTs).
River |
DeFi、Lending、Stablecoin Protocol
| | Crypto’s circulatory system |
277
|
63
|
Frax Finance is a stablecoin protocol issues innovative, decentralized stablecoins and contains subprotocols to support them. The Frax Protocol currently issues 3 stablecoins: FRAX, FPI, and frxETH. FRAX v3 is a dollar-pegged stablecoin that uses AMO smart contracts and permissionless, non-custodial subprotocols as stability mechanisms. The two internal subprotocols used as stability mechanisms are Fraxlend, a decentralized lending market and Fraxswap, an automated market maker (AMM) with special features. The external subprotocol used as a stability mechanism is Curve.
FraxFXS |
DeFi、LSD、Stablecoin Protocol
| | Stablecoin Protocol |
1.26 K
|
63
|
ORIGIN is a DeFi 3.0 protocol based on the algorithmic non-stablecoin LGNS, aiming to establish a privacy-anonymous stablecoin payment ecosystem. ORIGIN achieves stable and predictable currency issuance through advanced algorithmic technology, allowing individuals to issue algorithmic non-stablecoins and mint them into algorithmically private and anonymous stablecoins, reducing dependence on traditional central banks.
ORIGINLGNS |
DeFi、Stablecoin Protocol、Algorithmic Stablecoin
| | Algorithmic non-stablecoin protocol |
--
|
62
|
BitVault is a decentralized financial protocol that issues bvUSD stablecoins and sbvUSD collateralized stablecoins backed by Bitcoin derivatives. The platform is permissioned, limited to whitelisted entities for lending and minting, and aims to provide institutional-grade capital efficiency, user-set interest rates, and multi-asset collateral, optimizing stability and liquidity.
BitVault |
DeFi、Stablecoin Protocol
| -- | Overcollateralized stablecoin based on Bitcoin |
90
|
58
|
Level is a stablecoin protocol powered by restaked dollar tokens like USDT and USDC. Level USD (lvlUSD) is a liquid restaked dollar: a yield-bearing, cross-chain dollar token that's backed 1:1 by restaked stablecoins.
Level |
DeFi、Restaking、Stablecoin Protocol
| -- | Stablecoin protocol backed by restaked dollar tokens |
388
|
57
|
Delpho is a synthetic dollar built on Hyperliquid and powered by perpetual contracts.
Delpho |
DeFi、Synthetic Assets、Stablecoin Protocol
| | Synthetic dollar |
61
|
56
|
Reservoir is a decentralized stablecoin protocol on Berachain, offering users a widely accessible next-gen stablecoin, rUSD, a liquid yielding asset, srUSD, a term based yielding asset, trUSD, and permissionless lending market. The protocol is backed by multiple digital and real world assets - providing the most scalable stablecoin through DeFi applications and real world asset integrations.
Reservoir |
DeFi、Lending、Stablecoin Protocol
| | Decentralized stablecoin protocol |
113
|
56
|
USDT0 is a stablecoin built using LayerZero's OFT Standard for deployments and asset transfers to new chains. USDT0 tokens can be redeemed by unlocking the corresponding USDT on Ethereum, from any supported chain, which always maintains a strict 1:1 backing.
USDT0 |
DeFi、Stablecoin Protocol
| -- | stablecoin |
554
|
55
|
Stables Labs is a next-generation stablecoin infrastructure provider focused on creating a decentralized and bankless ecosystem for stablecoin issuance. USDX(usdx.money) is a synthetic USD stablecoin built for the crypto ecosystem.
Stables Labs |
DeFi、Stablecoin Protocol
| | Synthetic USD Stablecoin |
248
|
53
|
Avant is a DeFi platform established in June 2024 with the mission to create a more inclusive financial system through a DeFi-powered stable-value token. The platform introduces avUSD, a stable-value token, and savUSD, its staked, yield-bearing counterpart.
Avant |
DeFi、Stablecoin Protocol
| | Decentralized stablecoin protocol |
129
|
52
|
Unitas is a decentralized, yield-bearing stablecoin protocol built for the next generation of finance. It issues stablecoins that earn yield natively — no reliance on traditional banks. Powered by Solana.
Unitas |
DeFi、Stablecoin Protocol
| | Decentralized, yield-bearing stablecoin protocol |
38
|
51
|
Aegis is a stablecoin platform backed by Bitcoin. Its YUSD is completely independent of the fiat banking system and is designed to protect savings from fiat hyperinflation. Aegis effectively profits from funding fees by performing funding rate arbitrage through delta-neutral trading in the spot and perpetual contract markets. Aegis will also provide an easy-to-use platform through a partnership with Riverside Hedge to enable people to access DeFi and achieve instant liquidity of funds.
Aegis |
DeFi、Derivatives、Stablecoin Protocol
| | Stablecoin platform backed by Bitcoin |
96
|
51
|
M0 is money middleware for the digital age. Based on a decentralized architecture and best-in-class collateral design, M0 allows institutions to issue cryptodollars. It also allows for M distributions to earners and governance token (ZERO) holders. There are three main types of actors in the protocol - Minters, Validators, and Earners - all of which are permissioned via governance. Protocol variables are also managed by governance and are stored in a Registrar configuration contract.
M0 |
DeFi、Stablecoin Protocol
| | Money middleware for the digital age |
86
|
50
|
Basis is a stable cryptocurrency protocol with an algorithmic central bank designed to remove volatility. It is designed to keep prices stable by algorithmically adjusting the supply, similar to how central banks buy and sell fiscal debt to stabilize purchasing power. When demand is increasing, the blockchain will create more Basis, with the expanded supply designed to bring the Basis price back down. Conversely, when demand is decreasing, the blockchain will buy back Basis, with the contracted supply designed to restore the Basis price. Following intervention by the U.S. SEC, Basis was shut down in December 2018.
Basis |
DeFi、Stablecoin Protocol
| | Stable cryptocurrency protocol |
312
|
49
|
USD.ai develops a yield-bearing synthetic flatcoin backed by compute resources, AI hardware, and network nodes. It finances decentralized infrastructure assets like GPUs and cell towers to address liquidity gaps. The platform uses $USDAI token for transactions, offering yield through asset-backed stability.
usd.ai |
DeFi、Stablecoin Protocol、AI
| -- | The yield-bearing synthetic dollar |
198
|
48
|
Noon is a yield–generating stablecoin protocol that ensures maximum value flows to users. 80% of deployment returns go to holders of staked stablecoins (sUSN). 10% goes to Insurance Fund—unused funds flow back to staked governance tokens (sNOON). 10% covers ops costs (and any excess flows to Insurance Fund).
Noon |
DeFi、Stablecoin Protocol
| -- | Yield–generating stablecoin protocol |
214
|
48
|
The MAITRIX is a next-generation stablecoin protocol, allowing AI projects to issue their own Intelligent Stablecoin backed by their native token. Token holders can use the MAITRIX to mint supported AI USDs, stake for rewards, and provide liquidity through select token pairs.
MAITRIX |
DeFi、Stablecoin Protocol、AI
| -- | Stablecoin protocol for AI |
230
|
47
|
BIMA is an omni-chain stablecoin protocol on Bitcoin. Users across the BTC ecosystem can stake Bitcoin as collateral, restake liquid staking tokens, and mint USBD (Universal Stable Bitcoin Dollar).
BIMA |
DeFi、Stablecoin Protocol
| | Omni-chain stablecoin protocol on Bitcoin |
319
|
47
|