Stablecoin issuers

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Total market cap (circulating) (latest)


MakerDAO dominance 88.8%

Total outstanding supply (latest)


Tether dominance 53.5%

Total fees (24h)


MakerDAO dominance 81.9%

Total revenue (24h)


MakerDAO dominance 86.3%

Total active users (daily) (latest)


Liquity dominance 57.4%

Total core developers (latest)


MakerDAO dominance 34.8%


What is Stablecoin issuers

Decentralized stablecoin issuers are smart contract-based credit facilities that allow users to borrow stablecoins against crypto or real-world collateral assets. Stablecoins are often pegged to fiat currencies or other cryptocurrencies.

How do Stablecoin issuers work

Once a user has deposited collateral into a stablecoin protocol, they’re able to borrow stablecoins minted by the protocol. The primary business model for stablecoin issuers is to generate revenue by charging stablecoin borrowers interest on their loans. That is, the stablecoin issuer captures the interest paid by borrowers.

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Competitive landscape

Daily market cap (circulating) for in the past 180 days.

Data table

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