NOTE is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #212 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
NOTE price
$0.9991
On peg Circulating supply
$1.2M
30-day change
0.0%
Price
$0.9991
Blockchains
1
Tracked since
Aug 2022
What is NOTE?
NOTE is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #212 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: NOTE is the unit of account on Canto. NOTE is an over-collateralized currency with a value perpetually rebalanced toward $1 through an algorithmic interest rate policy.
NOTE supply history
$1.3M$1.1M
Sep 20, 2025Sep 20, 2026
$50.1M$0
Aug 25, 2022Sep 20, 2026
NOTE supply was flat over the past 30 days. Its peak was $48.8M in February 2023, and supply is 98% below that high.
Is NOTE holding its peg?
Last price
$0.9991
Target
1.0000 USD
Status
On pegNOTE is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where NOTE lives: supply by blockchain
Supply is concentrated: Canto holds 100% of all NOTE. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How NOTE is backed
NOTE 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: NOTE is a fully immutable ERC-20 token backed by collateral lent to the Canto Lending Market. It can only be borrowed by users who post select collateral assets such as USDC, USDT, CANTO, ETH, ATOM, or Canto LP tokens.
NOTE 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 $1.2M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
NOTE vs USDT and USDC
Similar crypto-backed stablecoins
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NOTE 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
NOTE FAQ
What is NOTE?
NOTE is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #212 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is NOTE pegged 1:1 to the US dollar?
NOTE 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 NOTE?
NOTE is a crypto-backed stablecoin. NOTE 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 NOTE on?
NOTE is live on 1 blockchain. The largest by supply are Canto ($1.2M).
How much NOTE is in circulation?
About $1.2M of NOTE was in circulation at the last update, 0.0% over 30 days. That makes it the #212 stablecoin by supply among those we track.
Is NOTE safe?
No stablecoin is risk-free. As a crypto-backed design, NOTE'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.