USN
Stablecoin-Profil
USN (USN) ist ein algorithmischer Stablecoin – die USD-Bindung wird durch On-Chain-Protokollmechanik statt durch Off-Chain-Reserven aufrechterhalten. Aktuell befinden sich 1,4 Mio. $ im Umlauf, verteilt auf 2 Blockchain-Netzwerke. Der Mechanismus passt das Angebot (Mint und Burn) an Marktpreisabweichungen vom Ziel-Peg an.
Über USN (USN)
USN is a NEAR-native stablecoin.
Using the Decentral Bank app, users swap USDT to mint USN 1:1. USN can be redeemed for USDT 1:1 at any time.
Jüngste Angebotsaktivität
USN (USN) supply was unchanged in the last 24 hours, was unchanged over the past week, and was unchanged over the past 30 days.
Steady issuance: supply has held roughly flat (0.00% over 30 days), consistent with mature stablecoin liquidity dynamics.
Supply-Verlauf
Network distribution
USN circulates across 2 blockchain networks. Near hosts the largest share at 57.16%, followed by Aurora at 42.84%. Cross-chain distribution has remained broadly stable over the past 30 days.
| Kette | Angebot | Anteil | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Near | 811.110,6 $ | 57.16% | +0.00% | +0.00% |
| Aurora | 607.842,5 $ | 42.84% | -0.00% | -0.00% |
Verlauf der Peg-Stabilität
USN (USN) relies on protocol-level supply rebalancing rather than direct asset redemption to defend its 1.00 USD peg. The spot price is currently $0.9999 (-0.010% deviation). Algorithmic designs carry materially higher peg-failure risk than reserve-backed stablecoins — the May 2022 Terra/UST collapse remains the canonical reference case.
Wie algorithmic-Stablecoins ihren Peg verteidigen
Algorithmic stablecoins attempt to balance supply and demand through protocol-level mint/burn incentives — typically against a paired governance or seigniorage token. When the price drops below $1.00, the protocol burns supply (often by letting holders swap into a discounted asset); when it rises above $1.00, the protocol mints new tokens. This design only holds when the paired asset retains independent demand. If the market loses faith in the paired asset, the feedback loop reverses and produces a hyperinflationary "death spiral" — the failure mode that wiped out roughly $60B in the Terra/UST collapse.
Praktische Auswirkungen für Inhaber
- Peg-failure tail risk is materially higher than reserve-backed designs. Position sizing should reflect this — algorithmic stablecoins are not a "cash equivalent" for risk-management purposes.
- Read the latest collateralisation ratio carefully: many "algorithmic" stablecoins have since migrated to partial or full collateralisation. The label can lag the actual mechanism.
- Reflexive feedback loops mean small redemption pressure can cascade. Exit liquidity should be assessed during normal conditions, not after stress begins.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (algorithmic) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
USN mit anderen algorithmic-Stablecoins vergleichen
Below are the largest algorithmic stablecoins tracked on Mantapex alongside USN (USN). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Angebot | Mechanismus | Ketten |
|---|---|---|---|
| Frax (FRAX) | 212 Mio. $ | algorithmic | 22 |
| Bean (BEAN) | 33,4 Mio. $ | algorithmic | 1 |
| Neutrino USD (USDN) | 31,1 Mio. $ | algorithmic | 4 |
| SpiceUSD (USDS) | 18 Mio. $ | algorithmic | 4 |
| Mento Dollar (USDm) | 16 Mio. $ | algorithmic | 5 |
Über Mechanismusklassen hinweg
If you're researching USN as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Peg-Stabilität
Chain-Verteilung
Ressourcen & Datenquellen
USN (USN) is tracked across major crypto data providers. The links below open USN (USN)'s pages on DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Aktuelle USN-Nachrichten
Latest reporting from major crypto news outlets covering USN.
- The Block
Wintermute vs. NEAR Foundation: A feud is brewing around the failed USN stablecoin
Wintermute threatened legal action against NEAR Foundation after it refused to redeem the USN tokens connected to Alameda Research.
- Invezz
NEAR abandons its native stablecoin to avoid a Terra-style scenario
Like a spark, USN shined for a short time, then faded. Issued by Decentral Bank (DCB) in April 2022, it became the first native stablecoin in the NEAR ecosystem – one of the…
- Crypto Daily
NEAR Protocol Scraps USN Stablecoin
A $40 million collateral gap has forced the shutdown of the USN stablecoin, which was launched in April 2022 by the NEAR Protocol. Tokens Destroyed, TVL Drop The USN stablecoin…
- Bitcoinist
Why The NEAR Foundation Will End Stablecoin USN
The NEAR Foundation will terminate its algorithmic stablecoin USN in the coming months. The organization launched a program to support the digital asset's wind-down.
- Crypto news
NEAR Foundation Has Just Set Aside $40 Million for the Protection of $USN Holders
NEAR foundation announces a $40M protection fund for $USN holders.
- Crypto Economy
USN Investors will be Bailed Out By $40M Fund Set Up By Near Foundation
A grant of $40 million has been set aside by the NEAR Foundation as part of a USN Protection Program grant, which has been
- UToday
NEAR Foundation Launches "Depeg" Protection for Algorithmic Stablecoin USN
USN's price at press time was $0.999
- The Block
Near Foundation spends $40 million to replace USN stablecoin's ‘collateral gap'
Near Foundation announced a $40 million grant toward replacing a collateral gap of USN, a decentralized stablecoin on Near Protocol that had become undercollateralized earlier…
Verwandte Stablecoins
Stablecoins comparable to USN by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Andere algorithmic Stablecoins
An USD gebundene Stablecoins
Größte Stablecoins nach Angebot
Risikohinweis
Stablecoins tragen Risiken, einschließlich De-Pegging, regulatorischer Änderungen und Gegenparteirisiken. Diversifiziere immer und führe eigene Recherchen durch.