Real USD (USDR) is an algorithmic US dollar stablecoin. It has about $7.8M in circulation, ranking #141 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is USDR?
Real USD (USDR) is an algorithmic US dollar stablecoin. It has about $7.8M in circulation, ranking #141 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: 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.
USDR supply history
USDR supply was flat over the past 30 days. Its peak was $71.0M (face value) in October 2023, and token supply is 38% below that high.
Is USDR holding its peg?
USDR is trading more than 2% below its target, so treat it as depegged. Check the issuer's announcements and redemption status before acting.
Where USDR lives: supply by blockchain
Supply is concentrated: Polygon holds 100% of all USDR. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDR is backed
USDR relies mainly on code and market incentives, rather than full reserves, to hold its peg. This design has historically been the most fragile.
Minting and redemption: 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.
USDR risks
With little hard collateral, falling confidence can feed on itself, the pattern that destroyed TerraUSD in 2022.
With $7.8M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
At the last update USDR traded at $0.4205 against a target of 1.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDR vs USDT and USDC
Similar algorithmic stablecoins
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USDR FAQ
What is USDR?
Real USD (USDR) is an algorithmic US dollar stablecoin. It has about $7.8M in circulation, ranking #141 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USDR pegged 1:1 to the US dollar?
USDR targets 1 USD. At the last update it traded at $0.4205, a deviation of -57.95%, which we classify as "depegged".
What backs USDR?
USDR is an algorithmic stablecoin. USDR relies mainly on code and market incentives, rather than full reserves, to hold its peg. This design has historically been the most fragile.
Which blockchains is USDR on?
USDR is live on 1 blockchain. The largest by supply are Polygon ($44.2M).
How much USDR is in circulation?
About $7.8M of USDR was in circulation at the last update, 0.0% over 30 days. That makes it the #141 stablecoin by supply among those we track.
Is USDR safe?
No stablecoin is risk-free. As a algorithmic design, USDR's main risks are a self-reinforcing loss of confidence (the "death spiral" that broke TerraUSD in 2022), thin or absent collateral, and smart-contract bugs. Its supply is small, so liquidity can be thin. It currently shows "depegged" on our peg monitor. This page is information, not investment advice.