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.

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.

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.

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.

Reserve Protocol is a decentralized stablecoin platform that aggregates tokenized assets to create fully decentralized stable cryptocurrencies (RTokens). The ultimate goal of Reserve Protocol is to provide an alternative to fiat currency.

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.

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.

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.

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.

Abracadabra is a cross-chain stablecoin lending protocol that allows users to provide collateral in the form of various interest-bearing crypto assets, such as yvYFI, yvUSDC, xSUSHI, and more. With Abracadabra, users can use the interest-bearing tokens they get from staking in vaults as collateral to mint Magic Internet Money (MIM), Abracadabra's USD-pegged stablecoin, and use it for other purposes.

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.

Stable Jack offers yield-based stablecoins, volatility AVAX tokens, and stable swap products. Yield-based stablecoins emphasize capital efficiency, no liquidation risk, and no centralization risk. Volatility AVAX tokens provide DeFi composability without paying funding fees or liquidation risk. Stable swaps facilitate unilateral liquidity provision.

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).

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.

Resupply is a decentralized stablecoin protocol, leveraging the liquidity and stability of lending markets. Resupply is a subDAO protocol of Convex Finance and Yearnfi.

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.

TaoFi is a DeFi infrastructure based on the Bittensor ecosystem, including TAO-backed stablecoins, decentralized exchanges, and a liquid staking version of the TAO token.

Sable Finance is a decentralized borrowing protocol for users to borrow loans against BNB as collateral at zero interest and a minimum collateral ratio of 110%. Loans are disbursed in Sablecoin (USDS), a USD-pegged stablecoin, with a minimum collateral ratio of 110%. Furthermore, the loans are fortified by a Stability Pool that comprises USDS and fellow borrowers who serve as guarantors of last resort, ensuring the utmost protection.

Mento Labs is a stablecoin and digital asset innovation lab spun out of cLabs (Celo). The lab provides support for Mento's basket of cryptoasset platforms, All Mento stables (cEUR, cREAL, cUSD) are fully backed by USDC and DAI. And loyalty and engagement, regenerative finance, and risk management, monitoring, and maintenance.

Angle Protocol is a novel stablecoin framework that achieves price stability and collateralization while maximizing capital efficiency. The protocol achieves stability by transferring collateral volatility to third-party users who seek leveraged long exposure with no funding rates.

USDD is a decentralized stablecoin issued by TRON DAO Reserve. It maintains a 1:1 peg to the US dollar through over-collateralization with crypto assets like BTC, USDT, USDC, and TRX. The project uses smart contracts for issuance and redemption, enabling transactions and staking.

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).

Azos is an over-collateralized stablecoin protocol that dampens collateral volatility, unlocks latent liquidity and produces stable assets. It is a foundational decentralized finance primitive for establishing new markets and enabling infinite impact innovation. The protocol allows users to deposit various tokenized assets such as green bonds, carbon credits, and renewable energy certificates in order to secure a line of credit in the form of the ZAI stablecoin.

Nuon.fi is a safe and transparent DeFi protocol where users can mint Nuon flatcoins to hedge against inflation and take advantage of arbitrage opportunities. Nuon is a decentralized flatcoin — a stablecoin with a price peg that rises and falls in line with inflation rates, protecting holders from any loss of value due to inflation.

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.

Gyroscope is a self-stabilizing, reserve-backed stablecoin protocol. The Gyro dollar's price is stabilized by multiple mechanisms, or "lines of defense," built into the protocol; namely, an "all-weather" reserve, algorithmic price bounding, and additional mechanisms that enable reserves to recover or asset-backing to expand.

Sperax is a yield-bearing crypto-collateralized algorithmic stablecoin protocol on the Arbitrum network. USD holders benefit from native auto-yield, meaning that they automatically earn yield without having to stake or claim. The yield is generated organically from the collateral deployed on external DeFi protocols, such as Curve Finance.

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.

Rings is a dollar stablecoin for USD & ETH offering competitive yield for stakers, providing deep liquidity for Sonic DeFi, and funding Sonic DeFi projects via its lockers.

M^0 is money middleware for the digital age. Based on a decentralized architecture and best-in-class collateral design, M^0 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.