The Rise, the Fall and the Resurrection of an Ambitious Experiment

The Beanstalk Protocol

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Starknet

Tether USDt (USDT) is a cryptocurrency and operates on the Ethereum platform. Tether USDt has a current supply of 86,426,198,726.43625 with 83,191,016,572.37025 in circulation. The last known price of Tether USDt is 1.00000542 USD and is up -0.00 over the last 24 hours. It is currently trading on 62677 active market(s) with $19,100,441,542.25 traded over the last 24 hours. More information can be found at https://tether.to.

Tether USDt

Tether

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Tomb Chain

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Wemix

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Godwoken

USD Coin (USDC) is a cryptocurrency and operates on the Ethereum platform. USD Coin has a current supply of 25,757,466,439.461708. The last known price of USD Coin is 1.00006147 USD and is up 0.01 over the last 24 hours. It is currently trading on 14200 active market(s) with $2,547,448,986.06 traded over the last 24 hours. More information can be found at https://www.centre.io/usdc.

USD Coin

BNB Beacon Chain (BEP2)

Linea

BUSD (BUSD) is a cryptocurrency and operates on the BNB Beacon Chain (BEP2) platform. BUSD has a current supply of 2,403,863,198.4481716. The last known price of BUSD is 1.00016031 USD and is down -0.01 over the last 24 hours. It is currently trading on 7309 active market(s) with $694,418,066.61 traded over the last 24 hours. More information can be found at https://www.binance.com/en/busd.

BUSD

Binance USD

SORA

Sora

Dai (DAI) is a cryptocurrency and operates on the Ethereum platform. Dai has a current supply of 5,347,888,595.7464075. The last known price of Dai is 0.99973837 USD and is up 0.09 over the last 24 hours. It is currently trading on 2604 active market(s) with $78,631,074.35 traded over the last 24 hours. More information can be found at http://www.makerdao.com/.

TerraClassicUSD (USTC) is a cryptocurrency launched in 2019. TerraClassicUSD has a current supply of 9,793,761,466.573748 with 9,787,857,400.729 in circulation. The last known price of TerraClassicUSD is 0.01254049 USD and is up 2.57 over the last 24 hours. It is currently trading on 761 active market(s) with $6,811,489.10 traded over the last 24 hours. More information can be found at https://terra.money.

TerraClassicUSD

TerraUSD

TrueUSD (TUSD) is a cryptocurrency and operates on the Ethereum platform. TrueUSD has a current supply of 3,513,823,600.6899996. The last known price of TrueUSD is 0.9987381 USD and is down -0.05 over the last 24 hours. It is currently trading on 444 active market(s) with $266,956,204.76 traded over the last 24 hours. More information can be found at https://tusd.io/.

TrueUSD

Pax Dollar (USDP) is a cryptocurrency and operates on the Ethereum platform. Pax Dollar has a current supply of 491,052,716.4506834. The last known price of Pax Dollar is 0.99429705 USD and is down -0.13 over the last 24 hours. It is currently trading on 99 active market(s) with $1,308,167.11 traded over the last 24 hours. More information can be found at https://www.paxos.com/usdp/.

Pax Dollar

WENWEN Protocol takes inspiration from the central bank model in the real financial world. It attempts to design a protocol that stabilizes the stablecoin's peg rate through open market operations (market-making) via a simple and effective "algorithm-central bank model. The WENWEN Protocol integrates the central bank model with a variety of innovations, including the protocol-controlled value (PCV), dual token system, and multi-stablecoin pairs.
PCV: Utilizing the central bank model does not imply centralization. Instead, the protocol's smart contracts control all funds raised in the vault during the genesis period, including the initial tokens issued. The Protocol Controlled Value (PCV) is only used to add liquidity and stabilize the price, which cannot be taken out of the vault.
Dual token system: WENWEN Protocol will issue WENWEN stablecoins pegged to different fiat currencies for users' convenience. Currently, the protocol has issued three stablecoins, namely the USDN, JPYN, and EURN, which are pegged to the US dollar, Yen, and Euro, respectively. Over time, more currency pairs will be issued depending on the community demand.
Variety of stablecoins: In addition to the stablecoins, WENWEN Protocol has also issued a governance token, SHAREN, which is the non-stable token in the protocol. The WENWEN stablecoins have similar characteristics to convertible bonds, while SHAREN has identical attributes to convertible shares. Holders of the tokens can claim pro-rata rewards. For example, if the USDN price is higher than $1, holders of the SHAREN will receive USDN rewards. If the USDN price is less than $1, holders of the USDN will receive SHAREN rewards. Therefore, the reward mechanism will also create additional arbitrage opportunities, where users can choose which tokens to trade and hold based on the price deviation. Thereby this mechanism also promotes the stability of the stablecoin's price.
The ultimate goal of the WENWEN Protocol is to provide a highly scalable, decentralized algorithmic currency without collateral.

WENWEN USDN

Neutrino USD

Fei USD (FEI) is a cryptocurrency and operates on the Ethereum platform. Fei USD has a current supply of 35,162,592.66866397 with 34,903,925.28590169 in circulation. The last known price of Fei USD is 0.98254433 USD and is down -0.09 over the last 24 hours. It is currently trading on 70 active market(s) with $87,144.47 traded over the last 24 hours. More information can be found at https://fei.money/.

Fei USD

Gemini Dollar (GUSD) is a cryptocurrency and operates on the Ethereum platform. Gemini Dollar has a current supply of 305,301,160.31. The last known price of Gemini Dollar is 0.99846189 USD and is up 0.10 over the last 24 hours. It is currently trading on 100 active market(s) with $388,238.19 traded over the last 24 hours. More information can be found at https://www.gemini.com/dollar.

Gemini Dollar

USDD (USDD) is a cryptocurrency launched in 2022and operates on the Ethereum platform. USDD has a current supply of 726,096,052.446234. The last known price of USDD is 0.99810759 USD and is down -0.04 over the last 24 hours. It is currently trading on 148 active market(s) with $17,143,991.11 traded over the last 24 hours. More information can be found at https://usdd.io/.

USDD

Decentralized USD

Frax (FRAX) is a cryptocurrency launched in 2020and operates on the Ethereum platform. Frax has a current supply of 1,044,853,133.2587842 with 671,723,780.5594406 in circulation. The last known price of Frax is 0.99826866 USD and is up 0.01 over the last 24 hours. It is currently trading on 537 active market(s) with $6,346,238.08 traded over the last 24 hours. More information can be found at https://frax.finance.

Frax

Liquity USD (LUSD) is a cryptocurrency launched in 2021and operates on the Ethereum platform. Liquity USD has a current supply of 276,179,565.9853327. The last known price of Liquity USD is 0.9930453 USD and is up 0.41 over the last 24 hours. It is currently trading on 108 active market(s) with $4,961,457.92 traded over the last 24 hours. More information can be found at https://www.liquity.org/.

Liquity USD

HUSD (HUSD) is a cryptocurrency launched in 2019and operates on the Ethereum platform. HUSD has a current supply of 222,593,861.49423522. The last known price of HUSD is 0.04717397 USD and is down -0.19 over the last 24 hours. It is currently trading on 128 active market(s) with $293.66 traded over the last 24 hours. More information can be found at http://www.stcoins.com/.

HUSD

USDX [Kava] (USDX) is a cryptocurrency launched in 2020. USDX [Kava] has a current supply of 107,526,703 with 111,567,264 in circulation. The last known price of USDX [Kava] is 0.94384651 USD and is up 0.61 over the last 24 hours. It is currently trading on 19 active market(s) with $271,687.12 traded over the last 24 hours. More information can be found at https://kava.io.

USDX [Kava]

sUSD (SUSD) is a cryptocurrency and operates on the Ethereum platform. sUSD has a current supply of 35,473,012.06938271. The last known price of sUSD is 0.99738784 USD and is up 0.26 over the last 24 hours. It is currently trading on 166 active market(s) with $1,170,730.32 traded over the last 24 hours. More information can be found at https://www.synthetix.io/.

sUSD

Celo

Celo Dollar (CUSD) is a cryptocurrency launched in 2020and operates on the Celo platform. Celo Dollar has a current supply of 57,241,566.21607361 with 41,813,990.9868042 in circulation. The last known price of Celo Dollar is 0.9919146 USD and is down -0.36 over the last 24 hours. It is currently trading on 83 active market(s) with $237,959.43 traded over the last 24 hours. More information can be found at https://celo.org/.

Celo Dollar

Origin Dollar (OUSD) is a cryptocurrency and operates on the Ethereum platform. Origin Dollar has a current supply of 15,965,695. The last known price of Origin Dollar is 0.9975157 USD and is down -0.10 over the last 24 hours. It is currently trading on 39 active market(s) with $3,736,834.43 traded over the last 24 hours. More information can be found at https://www.ousd.com.

Origin Dollar

Vai (VAI) is a cryptocurrency launched in 2020and operates on the BNB Smart Chain (BEP20) platform. Vai has a current supply of 57,498,554. The last known price of Vai is 0.99402162 USD and is down -0.11 over the last 24 hours. It is currently trading on 82 active market(s) with $15,123.61 traded over the last 24 hours. More information can be found at https://venus.io.

Mad USD (MUSD) is a cryptocurrency and operates on the Cronos platform. Mad USD has a current supply of 84,700,000 with 0 in circulation. The last known price of Mad USD is 0.48733776 USD and is down -0.27 over the last 24 hours. It is currently trading on 12 active market(s) with $487.14 traded over the last 24 hours. More information can be found at https://mm.finance/.

Mad USD

mStable USD

Mint Marble (MIM) is a cryptocurrency and operates on the Klaytn platform. Mint Marble has a current supply of 1,000,000,000 with 33,800,000 in circulation. The last known price of Mint Marble is 0.18078975 USD and is down -9.56 over the last 24 hours. It is currently trading on 2 active market(s) with $61.35 traded over the last 24 hours. More information can be found at https://www.mintmarble.com/.

Mint Marble

Magic Internet Money

MAI (MIMATIC) is a cryptocurrency and operates on the Polygon platform. MAI has a current supply of 307,484,777 with 0 in circulation. The last known price of MAI is 0.9059162 USD and is down -0.02 over the last 24 hours. It is currently trading on 451 active market(s) with $210,594.86 traded over the last 24 hours. More information can be found at http://mai.finance/.

AzukiDAO (BEAN) is a cryptocurrency launched in 2023and operates on the Ethereum platform. AzukiDAO has a current supply of 1,000,000,000 with 0 in circulation. The last known price of AzukiDAO is 0.00093512 USD and is up 2.20 over the last 24 hours. It is currently trading on 3 active market(s) with $150,162.38 traded over the last 24 hours. More information can be found at https://www.azukidao.io/.

AzukiDAO

The Beanstalk protocol is a permissionless fiat stablecoin protocol issuing the $BEAN token, a stablecoin that is pegged to the USD and backed by credit instead of collateral.

$BEAN holds its peg based on the algorithmic control of its supply. This happens by either minting new $BEAN or issuing a native, debt token (the so-called 'Pods') in exchange for $BEAN. The debt tokens are issued via Beanstalk's own credit facility (known as the Field). Thereby, the debt tokens are issued when $BEAN tokens are lent to the protocol by creditors.

For a more extensive explanation of $BEAN, the Beanstalk protocol, its background story, and its relevant risks have a look at our in-depth 

The protocol algorithmically balances the supply for $BEAN by either borrowing & burning $BEAN via debt-tokens from creditors in the case of $BEAN trading below its peg or repaying debt with newly minted $BEAN tokens to lower the supply in the case of $BEAN trading above its peg. 

The debt tokens are issued with a fixed interest rate calculated by the protocol (known as the Temperature) and don’t have a maturity date. The interest rate fluctuates based on the current price of $BEAN, the debt level of the protocol, and the change in demand for the debt token. The quantity of debt tokens being issued is a function of the $BEAN price and the interest rate. Both, the amount of debt tokens and their interest rate is continuously adjusted every hour by the protocol.

Newly minted $BEAN are distributed by the protocol as follows:

Bean

flexUSD

DOLA (DOLA) is a cryptocurrency launched in 2020and operates on the Ethereum platform. DOLA has a current supply of 55,701,609.749204 with 0 in circulation. The last known price of DOLA is 0.99481076 USD and is down -0.10 over the last 24 hours. It is currently trading on 77 active market(s) with $270,715.82 traded over the last 24 hours. More information can be found at https://www.inverse.finance/.

DOLA

Dola

Reserve (RSV) is a cryptocurrency and operates on the Ethereum platform. Reserve has a current supply of 28,850,666.79. The last known price of Reserve is 0.99950369 USD and is up 0.01 over the last 24 hours. It is currently trading on 18 active market(s) with $0.00 traded over the last 24 hours. More information can be found at https://reserve.org/.

Reserve

Inter Stable Token (IST) is a cryptocurrency and operates on the Cosmos platform. Inter Stable Token has a current supply of 1,100,000 with 0 in circulation. The last known price of Inter Stable Token is 0.99819675 USD and is down -0.04 over the last 24 hours. It is currently trading on 2 active market(s) with $7,938.86 traded over the last 24 hours. More information can be found at https://inter.trade/.

Inter Stable Token

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