Real USD
Stablecoin Profile
Real USD (USDR) is an algorithmic stablecoin — its USD peg is maintained by on-chain protocol mechanics rather than off-chain reserves. $13.1M is currently in circulation across 2 blockchain networks. The mechanism adjusts supply (mint and burn) in response to market price deviations from the target peg.
About Real USD (USDR)
Real USD (USDR v3) is a natively rebasing, yield-bearing, overcollateralized stablecoin, pegged to the US dollar. Collateralizing USDR will be yield-generating, tokenized real estate that is inflation-resistant and wealth generating.
Using Tangible, users can swap DAI to mint USDR 1:1. A portion of that DAI is then converted into tokenized real estate through Tangible's existing marketplace. Users receive a daily rebase. USDR can be redeemed for DAI 1:1 at any time.
Recent supply activity
Real USD (USDR) 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
Real USD circulates across 1 blockchain network. Polygon 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 |
|---|---|---|---|---|
| Polygon | $13.1M | 100.00% | 0.00% | 0.00% |
Peg stability history
Real USD (USDR) relies on protocol-level supply rebalancing rather than direct asset redemption to defend its 1.00 USD peg. The spot price is currently $0.2967 (-70.329% deviation). Algorithmic designs carry materially higher peg-failure risk than reserve-backed stablecoins — the May 2022 Terra/UST collapse remains the canonical reference case.
How algorithmic stablecoins defend their peg
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.
Practical implications for holders
- 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.
Contract addresses
Real USD (USDR) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chain | Contract address | Verify |
|---|---|---|
| Ethereum | 0x40379a439D4F6795B6fc9aa5687dB461677A2dBa | Explorer |
Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.
Compare Real USD to other algorithmic stablecoins
Below are the largest algorithmic stablecoins tracked on Mantapex alongside Real USD (USDR). 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 |
|---|---|---|---|
| Frax (FRAX) | $212M | algorithmic | 22 |
| Bean (BEAN) | $33.4M | algorithmic | 1 |
| Neutrino USD (USDN) | $31.1M | algorithmic | 4 |
| SpiceUSD (USDS) | $18M | algorithmic | 4 |
| Mento Dollar (USDm) | $16M | algorithmic | 5 |
Across mechanism classes
If you're researching USDR 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
Real USD (USDR) is tracked across major crypto data providers. The links below open Real USD (USDR)'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 coingecko. 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 Real USD news
Latest reporting from major crypto news outlets covering Real USD.
- Crypto Economy
StablR Suspends USDR and EURR After Cyberattack
StablR suspended USDR and EURR operations after an attack that allowed minting approximately $13.5 million in tokens without the required backing. A flaw in the 1-of-3 multisig…
- Coindesk
StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens
The breach, linked to a 1-of-3 multisig wallet weakness, allowed attackers to compromise a key and mint $13.5 million in unbacked tokens, netting them $2.8 million.
- Blockchain News
StablR Exploit Drains $2.8M, Depegs EURR and USDR
StablR stablecoins EURR and USDR depeg after a $2.8M exploit tied to a private key breach, raising concerns over multisig governance.
- The Block
StablR's EURR and USDR depeg after attacker mints $13.5 million in unbacked tokens through multisig exploit
EURR fell to $0.85 and USDR fell as low as $0.40 after an attacker dumped roughly $10.4 million in face value on decentralized exchanges.
- UToday
USD Stablecoin USDR Extends De-Peg to 37% Following $10 Million Governance Exploit
The crisis around European issuer StablR continues to deepen. At the time of writing, the decline of the USD stablecoin USDR has accelerated to 37%, reaching $0.63, while its euro…
- Blockonomi
ZachXBT Flags Possible $10M StablR Exploit as EURR and USDR Stablecoins Sink 20%
Security teams freeze part of the stolen funds as EURR and USDR face market pressure
- Bitcoin
MiCA Compliant Euro Stablecoin Depegs to $0.85 After 1-of-3 Multisig Exploit Drains Millions
Malta-based stablecoin issuer StablR suffered a security incident on Sunday, after an attacker exploited a weak multisig configuration to mint millions of unbacked EURR and USDR…
- The Currency Analytics
StablR Loses $2.8M as Private Key Breach Sends USDR and EURR Into Freefall
StablR got hit hard. An attacker exploited a compromised private key, minted tokens out of thin air, and walked away with 1,115 ETH — roughly $2.8 million — funneled through…
Related stablecoins
Stablecoins comparable to Real USD by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other algorithmic 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.