Global Dollar (USDG)
Best for collateralised issuance at scale
How it rates
- $3,417m circulating, recorded independently
- Collateralised model (fiat-backed)
- Issued across 6 chains
- Reserve attestations are not scored in this category
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- MetPeg mechanism disclosed in the public dataset
Mechanism recorded as fiat-backed.
stablecoins.llama.fi/stablecoins - MetBacking model is collateralised rather than algorithmic
Recorded as fiat-backed.
stablecoins.llama.fi/stablecoins - MetCirculating supply published independently
$3,417m circulating at this check.
stablecoins.llama.fi/stablecoins - Met
- MetPrice tracked and at peg in the public dataset
Recorded price 0.9997.
stablecoins.llama.fi/stablecoins
- Met
- Met
- Met
- Met
- Met
- Met
- Not met
- Not met
- Not met
- MetTraded within 0.5% of peg at this check
Recorded price 0.9997; deviation 0.03%.
stablecoins.llama.fi/stablecoins
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
A consortium-issued fiat-backed stablecoin with $3.42bn circulating across six chains, sharing reserve income with participating platforms.
Our assessment
USDG has $3.42bn circulating across six chains and traded 0.03% from parity at this check. Its distinguishing feature is commercial rather than technical: reserve income is shared with the platforms that distribute it.
Sharing the float changes the incentives
A stablecoin issuer earns interest on its reserves — at current rates, a very large sum on billions of dollars. Traditionally the issuer keeps it. A consortium model returns a share to the exchanges and platforms that hold and distribute the token, which gives them a direct reason to promote it over incumbents.
Distribution economics decide stablecoin adoption
Users generally do not choose a stablecoin; they hold whatever the platform they use supports. That makes distribution the whole game, and it is why a revenue-sharing model is a serious competitive strategy rather than a marketing detail. It is also why an established token can be displaced without ever being technically inferior.
Backing and disclosure
Reserves are fiat-denominated in the conventional cash-and-short-duration-instruments structure, with regulated issuance. The evidence profile is solid and the operating history is short compared with USDC or USDT — which matters, because a stablecoin's most important property is behaviour in a crisis it has not yet had.
Who it suits
USDG fits users on platforms that support it, particularly where the revenue share is passed on as yield. Users wanting the longest track record and deepest liquidity should hold USDC or USDT.
How rivals compare
Frequently asked
Does this score assess the quality of reserves?
No. Reserve attestations vary too much between issuers to compare from one public source. The score covers backing model, scale and distribution; read the issuer's own reserve reporting separately.
Where does the data come from?
A public stablecoin dataset queried at the verification date. Anyone can re-run the same query.
Why are algorithmic stablecoins scored lower?
The rubric credits collateralised backing explicitly. Algorithmic designs have the weakest track record and the indicator reflects that.