Redeemable USD
Stablecoin Profile
Redeemable USD (RUSD) is a fiat-backed stablecoin pegged to USD, with $38.7K in circulating supply across 1 blockchain networks. Each RUSD is backed by reserves held by the issuer, with parity attested via on-chain attestations and issuer disclosures. The peg has historically held within ±1% on most trading sessions, with reserve composition and attestation cadence the primary inputs to its credit-risk profile.
About Redeemable USD (RUSD)
Redeemable USD is a fiat-backed stablecoin on both the Cardano and Shareslake networks. It is a USD backed stablecoin in a 1:1 basis.
Using the Shareslake Dashboard, users can deposit USD on Shareslake or ADA on Cardano to mint RUSD. RUSD can be redeemed for USD at any time.
Recent supply activity
Redeemable USD (RUSD) 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 History
Network distribution
Redeemable USD circulates across 1 blockchain network. Cardano hosts the largest share at 100.00%. Cross-chain distribution has remained broadly stable over the past 30 days.
| Chain | Supply | Share | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Cardano | $38.7K | 100.00% | 0.00% | 0.00% |
Peg stability history
Redeemable USD (RUSD) is designed to trade at exactly 1.00 USD, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $0.9999, a -0.010% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
How reserve-backed stablecoins defend their peg
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Practical implications for holders
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- 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 (reserve-backed) 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 Redeemable USD to other fiat-backed stablecoins
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside Redeemable USD (RUSD). 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 |
|---|---|---|---|
| Tether (USDT) | $184.1B | fiat-backed | 107 |
| USD Coin (USDC) | $79.6B | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | $4.5B | fiat-backed | 8 |
| PayPal USD (PYUSD) | $4.1B | fiat-backed | 7 |
| BlackRock USD (BUIDL) | $2.5B | fiat-backed | 8 |
Peg Stability
Chain Distribution
Resources & data sources
Redeemable USD (RUSD) is tracked across major crypto data providers. The links below open Redeemable USD (RUSD)'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 on-chain oracles. 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.
Related stablecoins
Stablecoins comparable to Redeemable USD by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other fiat-backed stablecoins
Stablecoins pegged to USD
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.