Elixir deUSD (DEUSD) is a crypto-backed US dollar stablecoin. It has about $92.2M in circulation, ranking #53 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
What is DEUSD?
Elixir deUSD (DEUSD) is a crypto-backed US dollar stablecoin. It has about $92.2M in circulation, ranking #53 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
In the issuer's words: deUSD ("decentralized US Dollar") is a fully collateralized synthetic dollar powered by the Elixir Network.
DEUSD supply history
DEUSD supply was flat over the past 30 days. Its peak was $302M in March 2025, and supply is 69% below that high.
Is DEUSD holding its peg?
There is no live market price for DEUSD. It is not actively traded on any exchange or DEX we can see, which is common for bank-issued and permissioned stablecoins that are only minted and redeemed directly with the issuer.
Where DEUSD lives: supply by blockchain
DEUSD is spread across several networks. The largest, Ethereum, holds 66% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How DEUSD is backed
DEUSD is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Minting and redemption: deUSD is minted by stETH and sDAI, which are deposited collateral assets, which will be used to by the protocol to short ETH, creating a delta neutral position.
Reserve reports and audits: docs.elixir.xyz
DEUSD risks
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
DEUSD vs USDT and USDC
Similar crypto-backed stablecoins
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DEUSD FAQ
What is DEUSD?
Elixir deUSD (DEUSD) is a crypto-backed US dollar stablecoin. It has about $92.2M in circulation, ranking #53 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
What backs DEUSD?
DEUSD is a crypto-backed stablecoin. DEUSD is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Which blockchains is DEUSD on?
DEUSD is live on 3 blockchains. The largest by supply are Ethereum ($60.9M), Avalanche ($31.2M), Polygon ($859).
How much DEUSD is in circulation?
About $92.2M of DEUSD was in circulation at the last update, 0.0% over 30 days. That makes it the #53 stablecoin by supply among those we track.
Is DEUSD safe?
No stablecoin is risk-free. As a crypto-backed design, DEUSD's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. It currently shows "no market price" on our peg monitor. This page is information, not investment advice.