Rank #18sUSDCrypto-Backed

sUSD

Pegged to

USD

Market Cap

$25.00M

24h Volume

$3.00M

Circulating Supply

25.00M sUSD

Total Supply

25.00M sUSD

Peg Target

USD

Collateral Type

Crypto-Backed

Issuer

Synthetix

Launch Date

01-01-2019

About sUSD

sUSD is the synthetic dollar stablecoin of the Synthetix protocol, one of the original DeFi primitives on Ethereum. sUSD is minted when SNX token holders stake their tokens and take on debt. The stablecoin is used throughout the Synthetix ecosystem for trading synthetic assets (Synths) that track real-world prices of commodities, currencies, and crypto assets. sUSD operates on Ethereum mainnet and Optimism. While its market cap is modest, sUSD plays a critical role in the Synthetix derivatives ecosystem and integrates with protocols like Kwenta, Lyra, and Thales.

Supported Blockchains

Ethereum Optimism

Pros

Core DeFi primitive since 2019
Enables synthetic asset trading
Deep integration with derivatives protocols
Active development via V3 upgrade

Cons

High collateralisation ratio required
Complex debt pool exposure
Small market cap
Dependent on SNX token health

Key Features

Minted by staking SNX tokens

Used for synthetic asset trading

Debt pool mechanism

Integrated with Kwenta, Lyra, Thales

Available on Ethereum and Optimism

Synthetix V3 migration underway

Stablecoin Information

Community & Socials

Website Twitter / X Discord Reddit GitHub