R is a crypto-backed US dollar stablecoin. It has about $10.7M in circulation, ranking #126 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
R price
$0.9991
On peg Circulating supply
$10.7M
30-day change
0.0%
Price
$0.9991
Blockchains
2
Tracked since
Jun 2023
What is R?
R is a crypto-backed US dollar stablecoin. It has about $10.7M in circulation, ranking #126 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
In the issuer's words: R is the most capital-efficient USD stablecoin backed by high-quality collateral assets such as stETH (Lido Staked Ether) and rETH (Rocket Pool ETH) and reserve assets such as CHAI, the yield-bearing version of the DAI stablecoin.
R supply history
$11.0M$10.3M
Jul 4, 2025Jun 30, 2026
$32.5M$0
Jun 9, 2023Jun 30, 2026
R supply was flat over the past 30 days. Its peak was $33.3M in July 2023, and supply is 68% below that high.
Is R holding its peg?
Last price
$0.9991
Target
1.0000 USD
Status
On pegR is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where R lives: supply by blockchain
Supply is concentrated: Ethereum holds 99% of all R. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How R is backed
R 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 can deposit any accepted collateral asset of their choice to generate R, and enjoy capital-efficient borrowing.
Reserve reports and audits: github.com
R risks
Collateral and liquidations
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Smart contracts and oracles
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Small and thinly traded
With $10.7M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
R vs USDT and USDC
Similar crypto-backed stablecoins
See all →
R in the news
Coinbase Taxes and Form 1099-DA: What Coinbase Reports to the IRS
Form 1099-DA Explained: What Your Crypto Exchange Reports to the IRS
Stablecoin Yield: Live Rates and Where the Interest Comes From
R FAQ
What is R?
R is a crypto-backed US dollar stablecoin. It has about $10.7M in circulation, ranking #126 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
Is R pegged 1:1 to the US dollar?
R targets 1 USD. At the last update it traded at $0.9991, a deviation of -0.09%, which we classify as "on peg".
What backs R?
R is a crypto-backed stablecoin. R 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 R on?
R is live on 2 blockchains. The largest by supply are Ethereum ($10.7M), Base ($59K).
How much R is in circulation?
About $10.7M of R was in circulation at the last update, 0.0% over 30 days. That makes it the #126 stablecoin by supply among those we track.
Is R safe?
No stablecoin is risk-free. As a crypto-backed design, R'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.