# Tangent

> Track Tangent with daily standardized on-chain data. Compare Tangent with other stablecoin issuers. See charts, financial statements and datasets in one place.

Source: [Tangent on Token Terminal](https://tokenterminal.com/explorer/projects/tangent). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction).

- Sectors: Stablecoin issuers
- Chains: ethereum

## About

### What it is

Tangent is a decentralized, over-collateralized stablecoin protocol. Its stablecoin, USG, is backed by productive collateral (Curve LP tokens, Pendle PTs) rather than idle reserves; the separate sUSG wrapper is the yield-bearing form.

### Who uses it

Tangent is a decentralized finance protocol governed by TAN token holders as a DAO; no legal issuing entity for USG has been identified.

### How it works

Users deposit productive, yield-bearing collateral (Curve/Convex LP tokens, Pendle PTs, and similar assets) into Tangent's lending markets and mint USG against it, either keeping all collateral rewards under a dynamic interest rate or borrowing interest-free against a portion of the rewards. TAN token holders govern the protocol and share in its earnings.

## Metrics

Token Terminal tracks these metrics for Tangent daily. Each page has a chart with the full history.

- [Outstanding supply](https://tokenterminal.com/explorer/projects/tangent/metrics/outstanding-supply)
- [Active addresses (daily)](https://tokenterminal.com/explorer/projects/tangent/metrics/active-addresses-daily)
- [Active addresses (weekly)](https://tokenterminal.com/explorer/projects/tangent/metrics/active-addresses-weekly)
- [Active addresses (monthly)](https://tokenterminal.com/explorer/projects/tangent/metrics/active-addresses-monthly)
- [Transaction count (contracts)](https://tokenterminal.com/explorer/projects/tangent/metrics/transaction-count-contracts)
- [Gas used](https://tokenterminal.com/explorer/projects/tangent/metrics/gas-used)

## Links

- [website](https://www.tangent.finance/)
- [twitter](https://twitter.com/Tangent_fi)