Collateralized Debt Token
Stablecoin Profile
Collateralized Debt Token (CDT) is a crypto-collateralised stablecoin: users mint CDT by locking other crypto assets as over-collateral, with $0 currently in circulation across 1 blockchain networks. The VAR peg is maintained through liquidation auctions when collateral value falls below required thresholds. Price feed sourced via defillama.
About Collateralized Debt Token (CDT)
Membrane is an experimental protocol that uses collateralized debt positions to synthesize credit demand into composable debt tokens that traverse the Cosmos in the form of $CDT.
The mechanism is roughly analogous to a “Line of Credit”, wherein vault owners can deposit their collateral to receive a line of credit against it. This unique functionality enables a large amount of flexibility in otherwise rigid token positions.
Supply History
Peg stability history
As a crypto-collateralised stablecoin, Collateralized Debt Token (CDT) maintains its 1.00 VAR target by holding excess on-chain collateral and routing redemptions through automated liquidation auctions. Spot price is currently $1.0018 (+0.183%); short-term excursions are normal in this range are typically arbitraged away within hours via the protocol's open mint/redeem mechanics.
How crypto-collateralised stablecoins defend their peg
Crypto-collateralised stablecoins like this one over-collateralise positions — borrowers must lock more than $1.00 of crypto for each $1.00 of stablecoin minted. If collateral value falls below the required ratio, the position is automatically liquidated in an open Dutch auction. Arbitrageurs can always mint and redeem against the protocol's contracts, which keeps the secondary-market price tightly bounded around $1.00. The main residual risks are sudden crypto-collateral crashes that outpace the liquidation engine, and oracle failure.
Practical implications for holders
- Collateral volatility is the dominant risk: a fast drawdown in the collateral asset can outpace liquidation auctions and leave the protocol under-collateralised.
- Oracle risk: the protocol relies on price feeds (typically Chainlink or a multi-oracle setup). Oracle manipulation or delay during volatile markets has historically caused peg excursions.
- Governance risk: parameter changes (collateral types, liquidation ratios, debt ceilings) are decided by token-holder votes. Sudden governance attacks remain a tail risk.
- On-chain transparency is a major advantage — collateral is verifiable 24/7 without trusting an attestor.
- 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 (crypto-collateralised) 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.
Compare Collateralized Debt Token to other crypto-collateralised stablecoins
Below are the largest crypto-collateralised stablecoins tracked on Mantapex alongside Collateralized Debt Token (CDT). 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 | Supply | Mechanism | Chains |
|---|---|---|---|
| Sky Dollar (USDS) | $8.4B | crypto-backed | 6 |
| Ethena USDe (USDe) | $5.9B | crypto-backed | 23 |
| Dai (DAI) | $4.6B | crypto-backed | 48 |
| Falcon USD (USDf) | $1.6B | crypto-backed | 2 |
| USDD (USDD) | $1.1B | crypto-backed | 4 |
Across mechanism classes
If you're researching CDT as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Peg Stability
Chain Distribution
Resources & data sources
Collateralized Debt Token (CDT) is tracked across major crypto data providers. The links below open Collateralized Debt Token (CDT)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Recent Collateralized Debt Token news
Latest reporting from major crypto news outlets covering Collateralized Debt Token.
- Investorplace
The 3 Most Undervalued Cryptos to Buy in February 2024
We are only a few weeks away from Bitcoin's halving, making these undervalued cryptos to buy attractive options.
- The Currency Analytics
Unveiling CheckDOT ($CDT): The Revolutionary Blockchain Project Merging Insurance and Cryptocurrency
In the dynamic world of cryptocurrencies, a revolutionary project is swiftly gaining traction for its innovative approach to marrying insurance services with blockchain…
- CryptoGlobe
Crypto Analyst Names His Top 5 Low-Cap Altcoins to Buy ‘Right Now'
In a video released on YouTube channel “Crypto Archie” yesterday, the host his top five low-cap altcoins to buy and accumulate for the current bull run. He mentions that these…
Related stablecoins
Stablecoins comparable to Collateralized Debt Token by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other crypto-backed stablecoins
Stablecoins pegged to VAR
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.