Sovryn Dollar (DLLR) is a crypto-backed US dollar stablecoin. It has about $1.4M in circulation, ranking #197 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is DLLR?
Sovryn Dollar (DLLR) is a crypto-backed US dollar stablecoin. It has about $1.4M in circulation, ranking #197 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: The Sovryn Dollar (DLLR) is an aggregation of purely BTC-backed “constituent” stablecoins into a single stablecoin.
DLLR supply history
DLLR supply fell 7.3% over the past 30 days, to $1.4M. Its peak was $5.2M in March 2024, and supply is 72% below that high.
Is DLLR holding its peg?
DLLR is trading more than 2% below its target, so treat it as depegged. Check the issuer's announcements and redemption status before acting.
Where DLLR lives: supply by blockchain
Supply is concentrated: Rootstock holds 100% of all DLLR. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How DLLR is backed
DLLR 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: The Sovryn Dollar (DLLR) is minted through Mynt, a smart contract system, by aggregating various BTC-backed stablecoins into a single, more resilient stablecoin.
DLLR 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 $1.4M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
At the last update DLLR traded at $0.9657 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.
DLLR vs USDT and USDC
Similar crypto-backed stablecoins
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DLLR FAQ
What is DLLR?
Sovryn Dollar (DLLR) is a crypto-backed US dollar stablecoin. It has about $1.4M in circulation, ranking #197 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is DLLR pegged 1:1 to the US dollar?
DLLR targets 1 USD. At the last update it traded at $0.9657, a deviation of -3.43%, which we classify as "depegged".
What backs DLLR?
DLLR is a crypto-backed stablecoin. DLLR 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 DLLR on?
DLLR is live on 1 blockchain. The largest by supply are Rootstock ($1.5M).
How much DLLR is in circulation?
About $1.4M of DLLR was in circulation at the last update, -7.3% over 30 days. That makes it the #197 stablecoin by supply among those we track.
Is DLLR safe?
No stablecoin is risk-free. As a crypto-backed design, DLLR'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 "depegged" on our peg monitor. This page is information, not investment advice.