XSY UTY (UTY) is a crypto-backed US dollar stablecoin. It has about $21.0M in circulation, ranking #106 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is UTY?
XSY UTY (UTY) is a crypto-backed US dollar stablecoin. It has about $21.0M in circulation, ranking #106 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: A delta-neutral asset and serves as the synthetic dollar at the center of XSY's ecosystem of decentralized financial products.
UTY supply history
UTY supply was flat over the past 30 days. Its peak was $37.5M in October 2025, and supply is 44% below that high.
Is UTY holding its peg?
UTY is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where UTY lives: supply by blockchain
Supply is concentrated: Avalanche holds 100% of all UTY. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How UTY is backed
UTY 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: XSY enables users to deposit USDC or USDT to mint UTY. Stability is secured through delta-neutral hedging strategies.
Reserve reports and audits: xsy-1.gitbook.io
UTY 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 $21.0M 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.
UTY vs USDT and USDC
Similar crypto-backed stablecoins
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UTY FAQ
What is UTY?
XSY UTY (UTY) is a crypto-backed US dollar stablecoin. It has about $21.0M in circulation, ranking #106 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is UTY pegged 1:1 to the US dollar?
UTY targets 1 USD. At the last update it traded at $0.9997, a deviation of -0.03%, which we classify as "on peg".
What backs UTY?
UTY is a crypto-backed stablecoin. UTY 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 UTY on?
UTY is live on 1 blockchain. The largest by supply are Avalanche ($21.0M).
How much UTY is in circulation?
About $21.0M of UTY was in circulation at the last update, 0.0% over 30 days. That makes it the #106 stablecoin by supply among those we track.
Is UTY safe?
No stablecoin is risk-free. As a crypto-backed design, UTY'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.
