Protocol and governance tokens
Understand what each token represents, how it works and which conditions to check. Independent profiles with primary sources; no investment rankings or live prices.
Stablecoin, governance or receipt
USDS, SKY and sUSDS share an ecosystem but serve different roles: stable reference, protocol decisions and a savings position. Likewise USDe, ENA and sUSDe. Not every stablecoin has an associated governance token; a company name does not establish one.
SKY
Sky governance token on Ethereum, successor to MKR. It enables participation or delegation in protocol decisions. Its value fluctuates: it is not USDS and offers no fixed dollar redemption.
Read profile and sources →MKR · Maker
Historical Maker governance token. Sky’s August 2026 explanation says SKY has taken over that role and MKR no longer votes. Check current migration conditions; no conversion rate is asserted here.
Read profile and sources →ENA
Ethena governance token. Covers decisions on backing, strategies and the Risk Committee. It is not USDe and does not confer the synthetic dollar’s redemption rights.
Read profile and sources →AAVE
Aave’s ERC-20 governance token on Ethereum. Enables voting or delegation. Its relationship with GHO is protocol governance; holding AAVE is not holding GHO or its collateral.
Read profile and sources →LQTY
Liquity token with staking and incentive functions. In V2 voting directs liquidity incentives, not immutable core rules. In V1 it is not a governance token. It is neither LUSD nor BOLD.
Read profile and sources →No matches
Native issuance, bridges and contracts
Native to a network means issued or recognized there by its issuer or protocol. A bridged token involves additional transfer infrastructure and may have a different contract and risks. A name or ticker is insufficient: verify network, official address, bridge operator and destination compatibility. We do not direct users to unverified copied contracts. The network gas token is not necessarily a stablecoin or its governance token.
Circle · Native USDC and supported networks
An expandable directory, not an exhaustive inventory of every token. Inclusion implies neither commercial partnership, authorization to operate nor recommendation. Governance and receipt profiles are separate from stablecoins to avoid confusing rights.
Tokenized bonds and stablecoins: differences