Stablecoins and synthetic dollars
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.
USDC
Dollar-linked stablecoin. Circle publishes reserve information. Direct redemption and the applicable entity depend on jurisdiction and agreement; the EEA policy distinguishes these rights.
Read profile and sources →EURC
Euro-referenced stablecoin, using the full-reserve model described by Circle. It differs from USDC in its reference currency. Redemption follows the applicable policy and eligibility requirements.
Read profile and sources →Tether USDt (USDT)
Dollar-linked token backed by reserves according to Tether. Direct access requires meeting its terms. The official directory separates current and historical networks: an old contract does not imply current support or redemption.
Read profile and sources →PayPal USD (PYUSD)
PayPal stablecoin issued by Paxos. Brand and issuer are distinct roles. Dollar redemption is subject to Paxos terms; banks, networks or intermediaries may impose additional costs.
Read profile and sources →Ripple USD (RLUSD)
Dollar stablecoin in the Ripple ecosystem. Documentation identifies Standard Custody as issuer and covers Ethereum and XRP Ledger. Direct redemption is for customers under agreement. XRP is not RLUSD and does not represent its reserves.
Read profile and sources →USDS
Sky Protocol stablecoin linked to DAI’s issuance system. DAI–USDS conversion exists on Ethereum. Converting protocol tokens is not the same as receiving dollars in a bank account.
Read profile and sources →DAI
Stablecoin of the Maker/Sky system. Documentation retains conversion routes with USDS on Ethereum. DAI and USDS are different tokens; Maker’s rebranding to Sky does not itself establish that DAI has been discontinued.
Read profile and sources →USDe
Synthetic dollar combining backing assets and derivatives hedges. It is not a dollar deposit. Minting and redemption use orders subject to acceptance; hedging, custody and counterparty risks remain.
Read profile and sources →GHO
Overcollateralized dollar-referenced stablecoin. Approved facilitators mint and burn GHO within governance-defined limits. The documented original contract is ERC-20 on Ethereum. AAVE is the governance token, not the stablecoin.
Read profile and sources →BOLD
Liquity V2 stablecoin issued against ETH and supported liquid staking tokens. Core contracts are immutable; LQTY directs liquidity incentives without general power to change monetary rules.
Read profile and sources →LUSD
Liquity V1 stablecoin backed by ETH. It differs from BOLD, which belongs to V2. Documentation retains V1; the existence of V2 does not mean LUSD is closed.
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