Hylo HYUSD (HYUSD) is a crypto-backed US dollar stablecoin. It has about $25.6M in circulation, ranking #101 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is HYUSD?
Hylo HYUSD (HYUSD) is a crypto-backed US dollar stablecoin. It has about $25.6M in circulation, ranking #101 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: hyUSD is a USD-soft-pegged stablecoin backed by liquid staking tokens (LSTs) and stabilized through a dual-token system with xSOL, liquidation mechanisms, and a stability pool.
HYUSD supply history
HYUSD supply grew 49.7% over the past 30 days, to $25.6M. Its peak was $39.6M in November 2025, and supply is 35% below that high.
Is HYUSD holding its peg?
HYUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where HYUSD lives: supply by blockchain
Supply is concentrated: Solana holds 100% of all HYUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How HYUSD is backed
HYUSD 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: Users mint hyUSD by depositing supported LSTs into Hylo's collateral pool, and redeem it by burning hyUSD to withdraw an equivalent amount of collateral.
Reserve reports and audits: docs.hylo.so
HYUSD 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.
With $25.6M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
HYUSD vs USDT and USDC
Similar crypto-backed stablecoins
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HYUSD FAQ
What is HYUSD?
Hylo HYUSD (HYUSD) is a crypto-backed US dollar stablecoin. It has about $25.6M in circulation, ranking #101 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is HYUSD pegged 1:1 to the US dollar?
HYUSD targets 1 USD. At the last update it traded at $0.9993, a deviation of -0.07%, which we classify as "on peg".
What backs HYUSD?
HYUSD is a crypto-backed stablecoin. HYUSD 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 HYUSD on?
HYUSD is live on 1 blockchain. The largest by supply are Solana ($25.5M).
How much HYUSD is in circulation?
About $25.6M of HYUSD was in circulation at the last update, +49.7% over 30 days. That makes it the #101 stablecoin by supply among those we track.
Is HYUSD safe?
No stablecoin is risk-free. As a crypto-backed design, HYUSD'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. Its supply is small, so liquidity can be thin. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.