XSY is building a Next Gen Digital Synthetic Dollar, $UTY, creating a structured, scalable way to unlock blockchain ecosystems dormant potential.

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.

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.

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.

Mountain Protocol allows Primary users (users with an approved Mountain Protocol account) to purchase and redeem USDM at a pegged value of $1. It allows users to gather digital asset wallet addresses and wire details to fund their accounts. All funds in the platform are auto-converted to USDM once settled. The USDM balance can be withdrawn via direct transfer to an allowed EOA in USDM or USDC or to a bank in USD.

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.

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.

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.

StandX is a perpetual DEX that enables users to trade with yield-earning margins. DUSD is StandX's first product - a yield-bearing stablecoin.

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).

Hyperstable is a Crypto-Backed, Over-Collateralized and Decentralized stablecoin that's designed to trade at one US Dollar. Borrowers can mint $USDH against supported Collateral Types.

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.

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.

Satoshi Protocol is an universal stablecoin protocol backed by Bitcoin. It allows users to deposit BTC/staked-BTC/USDC as collateral to mint the stablecoin $SAT on both Bitcoin mainnet and multiple L2s.

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.

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.

Aegis is a stablecoin platform backed by Bitcoin. Its YUSD is completely independent of the fiat banking system and is designed to protect savings from fiat hyperinflation. Aegis effectively profits from funding fees by performing funding rate arbitrage through delta-neutral trading in the spot and perpetual contract markets. Aegis will also provide an easy-to-use platform through a partnership with Riverside Hedge to enable people to access DeFi and achieve instant liquidity of funds.

The Reserve Protocol is a decentralized stablecoin platform that aggregates tokenized assets to create a fully decentralized stable cryptocurrency (RTokens). The ultimate goal of the Reserve Protocol is to provide an alternative to fiat currency. In January 2024, Reserve announced the establishment of two new companies, ABcLabs and Confusion Capital, with the former focusing on the development and promotion of the Reserve Protocol and the latter focusing on the development of the ecosystem.

Halo is a digital dollar protocol based on Hyperliquid, and its issuance of HUSD is a treasury-backed stablecoin that will be available on both HyperCore and the HyperEVM. Accordingly, users will be able to trade it against USDC on a spot order book as well as use it across integrated DeFi applications. Its collateral backing will be visible down to each individual International Securities Identification Number (ISIN) or equivalent token, with attestations pushed daily. HUSD can be minted with, or redeemed for, this underlying collateral by institutional entities onboarded with Halo’s service provider, MXON.

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).

Palladium is a stablecoin protocol that is operated and scaled upon Bitcoin. Palladium at its core is a collateralized debt protocol. Anyone can mint PUSD using their BTC and get instant access to interest-free liquidity. Users can premissionlessly borrow up to 90% of their Bitcoin value in PUSD. The protocol implements a two-tier liquidation mechanism that allows for high capital efficiency while keeping the system stable even when the collateral ratio drops as low as 110%.

Ebisu Finance is a high-yield stablecoin protocol that allows users to borrow dollar-denominated credit in liquid remortgage tokens (LRT) via decentralized stablecoins.

Bound is a stablecoin protocol based on Bitcoin. Reserves are held transparently onchain in a diverse basket of dollar-backed stablecoins from reputable issuers. Usesr can mint or redeem bUSD 1:1 for any supported dollar-backed stablecoin. Smart contract vaults on external networks are used for instant onchain liquidity 24/7.

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.

Magma is a new DeFi primitive that enables users to mint a stablecoin, WEN. Fully collateralized by liquid staking tokens (LSTs) and real world assets (RWAs), WEN opens DeFi doors for projects and users alike through providing a native stable asset for the ecosystem.

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.

USDT0 is a stablecoin built using LayerZero's OFT Standard for deployments and asset transfers to new chains. USDT0 tokens can be redeemed by unlocking the corresponding USDT on Ethereum, from any supported chain, which always maintains a strict 1:1 backing.

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.