![The interface for Curve, a decentralized finance platform that allows users to lend and borrow various cryptocurrencies. The screenshot displays different markets with their respective borrow rates, total debt, available borrowing amounts, and total collateral values for assets like WBTC, ETH, wstETH, sfrxETH v2, tBTC, and sfrxETH.](https://defishills.com/wp-content/uploads/2024/07/crvusd-768x370.jpg)
crvUSD
crvUSD is a decentralized stablecoin launched by Curve Finance. It is overcollateralized and pegged to the US dollar. Users mint crvUSD by depositing collateral such as ETH.
![eBTC platform promoting Bitcoin borrowing with incentives, including 110% collateralization, 0% fees, and 11X leverage, highlighting how users can earn by borrowing Bitcoin.](https://defishills.com/wp-content/uploads/2024/08/ebtc-768x372.jpg)
eBTC
eBTC is a decentralized protocol allowing users to borrow Bitcoin against staked ETH collateral with no fees. It offers capital efficiency and lower liquidation risk, integrating seamlessly into DeFi.
![Ethena website homepage with the headline 'Enabling Internet Money.' The page highlights a synthetic dollar with an APY of 7.4% and an option to 'Enter the Ether.' The background is dark with a diamond-shaped pattern and partner logos at the bottom.](https://defishills.com/wp-content/uploads/2024/07/ethena-768x370.jpg)
Ethena
Ethena is a DeFi platform offering a synthetic dollar (USDe) and internet-native yield. It generates yield by staking Ethereum and shorting Ethereum futures, stabilizing USDe's value and providing returns.
![FDUSD homepage with white background. The text 'FDUSD is a 1:1 USD-backed Stablecoin' highlights FDUSD as a digital stablecoin providing security, speed, and innovation. Includes 'Get FDUSD' button and financial graphics.](https://defishills.com/wp-content/uploads/2024/07/firstdigitallabs-768x373.jpg)
First Digital USD
First Digital USD (FDUSD) is a USD-pegged stablecoin issued by First Digital Labs. It is fully backed by cash and cash-equivalent assets, ensuring transparency and trust.
![Frax Finance: Innovative decentralized stablecoin and DeFi stablecoin infrastructure. The platform aims to create a self-sufficient DeFi economy utilizing stablecoins as currency, highlighted by a sleek black-themed interface.](https://defishills.com/wp-content/uploads/2023/10/FraxFinance-768x330.jpg)
Frax Finance
Frax Finance is a decentralized algorithmic stablecoin, Frax, for stable value maintenance, enabling minting, redeeming, and transacting across various DeFi applications.
![fxn website page showing reserve asset values and minting options. The page displays values for fxUSD, btcUSD, rUSD, and fETH with options to mint and redeem leveraged tokens like xstETH and xfrxETH. The background is dark blue with a starry pattern.](https://defishills.com/wp-content/uploads/2024/07/fxn-768x373.jpg)
Fx Protocol
f(x) Protocol by AladdinDAO is a DeFi protocol on Ethereum that offers a decentralized stablecoin (fxUSD) and leveraged ETH tokens (fETH and xETH), all backed by staked ETH.
![Homepage of Gemini Dollar (GUSD), emphasizing its stability and efficiency. Features a call-to-action button to convert USD to GUSD and promotes the benefits of the stablecoin with the security of blockchain technology.](https://defishills.com/wp-content/uploads/2024/07/geminidollar-768x374.jpg)
Gemini Dollar
Gemini Dollar (GUSD) is a stablecoin issued by Gemini, pegged 1:1 with the U.S. dollar. Reserves are held in FDIC-insured banks, money market funds, and U.S. Treasury bills.
![The main page for GHO, a decentralized, overcollateralized stablecoin native to the Aave Protocol. The interface emphasizes its suitability for "Internet People" with a cartoonish ghost character, promoting the stablecoin's benefits and providing links to learn more about how GHO works, developer documentation, and governance.](https://defishills.com/wp-content/uploads/2024/07/gho-768x373.jpg)
GHO
GHO is a decentralized, multi-collateral stablecoin on Aave. It is minted using assets supplied as collateral on Ethereum markets. The Aave DAO manages GHO's supply and interest rates.
![Homepage of Liquity, a decentralized borrowing platform offering 0% interest loans against ETH. The page highlights a total value locked of $535,022,335 and provides buttons to borrow LUSD or learn more about the platform.](https://defishills.com/wp-content/uploads/2024/07/liquity-768x366.jpg)
Liquity
Liquity (LUSD) is a decentralized borrowing protocol on Ethereum. It offers 0% interest loans against ETH collateral, with loans paid out in LUSD, a USD-pegged stablecoin.
![MakerDAO webpage with a clean design, promoting DAI as a better, smarter currency that can be used by anyone, anywhere, anytime, emphasizing its stability and decentralization.](https://defishills.com/wp-content/uploads/2023/10/MakerDAO-768x379.jpg)
MakerDAO
MakerDAO is a DeFi platform on Ethereum for generating Dai, a stablecoin, governed by MKR token holders, enabling decentralized financial activities.
![Pax Gold homepage with white background. The text 'Pax Gold The safest way to own investment-grade physical gold' includes additional information about PAXG as a digital token backed by physical gold.](https://defishills.com/wp-content/uploads/2024/07/paxgold-768x373.jpg)
PAX Gold
PAX Gold (PAXG) is a regulated digital asset by Paxos, backed by one fine troy ounce of London Good Delivery gold. Each token is stored in secure vaults and built on Ethereum.
![PayPal homepage promoting PYUSD with blue and white background. The text 'Designed for payments' highlights PYUSD as a stablecoin backed by secure assets. Includes 'Get Started' button and information on buying, selling, and transferring PYUSD.](https://defishills.com/wp-content/uploads/2024/07/pyusd-768x363.jpg)
PayPal USD
PayPal USD (PYUSD) is a stablecoin by PayPal, backed 1:1 by U.S. dollar deposits and equivalents. It is an ERC-20 token on Ethereum and Solana, used for payments and transfers within PayPal.
![Tether homepage with light background. The text 'Tether token Driving the Future of Money' includes 'Create Account' and 'Learn How Tether Works' buttons. Features icons representing various currencies and financial symbols.](https://defishills.com/wp-content/uploads/2024/07/tether-768x372.jpg)
Tether
Tether (USDT) is the largest stablecoin, pegged 1:1 to the US dollar. It has a market cap over $100 billion, backed by 90% cash and equivalents. Issued on multiple blockchains like Ethereum and Tron.
![Homepage of Tether Gold with a light background. The text 'Gold Made Easy' describes XAUt as a digital token backed by physical gold. Includes statistics on USD market cap, gold bars, and gold kilograms with 'Buy XAUt' and 'Whitepaper' buttons.](https://defishills.com/wp-content/uploads/2024/07/tethergold-768x375.jpg)
Tether Gold
Tether Gold (XAUt) is a digital token backed by one troy ounce of physical gold, held in a secure vault. Each token is transferable on the blockchain and redeemable for physical gold.
![Threshold platform homepage promoting its service for minting tBTC, with details on total value locked and staking options for earning with Bitcoin in DeFi.](https://defishills.com/wp-content/uploads/2024/08/threshold-768x373.jpg)
Threshold Network (tBTC)
Threshold Network is a protocol that bridges Bitcoin to Ethereum with tBTC, a fully backed Bitcoin token. It enables trustless use in DeFi while maintaining security and decentralization.
![TrueUSD homepage with dark background. The text 'Digital Currency Built For The New Global Payment System' promotes TrueUSD as a USD-pegged stablecoin with daily attestations. Includes 'Get Started' button and financial statistics.](https://defishills.com/wp-content/uploads/2024/07/trueusd-768x373.jpg)
TrueUSD
TrueUSD (TUSD) is a USD-pegged stablecoin with daily reserve attestations. It ensures transparency via on-chain verification and is available on Ethereum, TRON, and BSC.
![Circle homepage promoting USDC with light blue background. The text 'Fully backed digital dollars' highlights USDC as a regulated digital currency redeemable 1:1 for US dollars. Includes 'Get USDC' and 'Start Building' buttons.](https://defishills.com/wp-content/uploads/2024/07/usdc-768x374.jpg)
USD Coin
USD Coin (USDC) is a stablecoin issued by Circle, pegged 1:1 to the US dollar. It is used for digital payments and global transfers, with over $33.6 billion in circulation.
![Website screenshot of Usual Money with a dark background and grid design. The text reads 'Stablecoin infra for the un-tethered era' with additional information about Usual being a secure and decentralized fiat-backed stablecoin issuer.](https://defishills.com/wp-content/uploads/2024/08/usualmoney-768x374.jpg)
Usual
Usual is a decentralized protocol for issuing fiat-backed stablecoins like USD0, secured by real-world assets. It offers transparent stablecoins and redistributes value through the $USUAL token.