Crypto-Backed
Discover decentralized stablecoins backed by crypto assets for flexible digital finance.
Top gainers this week
Top losers this week
3 days at the top this week: $DAI is dominating the category
$MIM +15 places this week
$DAI climbed into the category leaders this week
$MIM · 16 gem score this week
$CRV hit a gem score of 77 this week
31 tokens rose and 24 fell this week
$VST +17 places this month
Frequently asked questions
How has Crypto-Backed performed recently?
The Crypto-Backed stablecoin category has shown mixed activity recently. Over the 7-day period, 42 tokens saw an upward trend in score, while 10 experienced a downward shift. Magic Internet Money (MIM) on Ethereum and Avalanche chains, along with AVAI, were among the top climbers, with Dai Stablecoin from PulseChain showing the highest percentage score increase. On the other hand, Savings Usdd (sUSDD), Alchemix USD (alUSD), and MIM on BNB Chain were among the notable fallers. Over a 30-day window, a similar pattern emerged with 44 tokens experiencing score increases and 8 seeing declines. FRAX and MAI were among the climbers, while sUSDD again led the fallers, alongside USDL Stablecoin and another instance of DAI from Ethereum. Dai Stablecoin (DAI) also entered the top K in the 7-day window.
What is a crypto-backed stablecoin?
A crypto-backed stablecoin is a digital currency pegged to a stable value, such as the US dollar, but secured by cryptocurrency collateral rather than fiat currency in a traditional bank.
How do crypto-backed tokens maintain their peg?
They typically maintain their peg through over-collateralization, smart contracts, and automated liquidation mechanisms that manage risk during market volatility.
What are the main risks of crypto-backed stablecoins?
The primary risks include smart contract vulnerabilities, liquidation risk, and extreme market downturns that can depreciate the value of the underlying collateral.