Parrot USD (PAI) is a crypto-backed US dollar stablecoin. It has about $4.2M in circulation, ranking #162 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
PAI price
—
No market price Circulating supply
$4.2M
30-day change
0.0%
Price
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Blockchains
1
Tracked since
May 2022
What is PAI?
Parrot USD (PAI) is a crypto-backed US dollar stablecoin. It has about $4.2M in circulation, ranking #162 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: PAI is an over-collateralized stablecoin created by the Parrot Protocol on Solana.
PAI supply history
$4.4M$4.1M
Oct 8, 2025Oct 8, 2026
$23.8M$0
May 30, 2022Oct 8, 2026
PAI supply was flat over the past 30 days. Its peak was $23.1M in May 2022, and supply is 82% below that high.
Is PAI holding its peg?
Last price
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Target
1.0000 USD
Status
No market priceThere is no live market price for PAI. It is not actively traded on any exchange or DEX we can see, which is common for bank-issued and permissioned stablecoins that are only minted and redeemed directly with the issuer.
Where PAI lives: supply by blockchain
Supply is concentrated: Solana holds 100% of all PAI. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How PAI is backed
PAI 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: Using the Parrot app, users mint PAI by depositing an accepted collateral asset into a vault. When the loan is repaid to retrieve the collateral, the paid back PAI is burned.
Reserve reports and audits: doc.parrot.fi
PAI 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 $4.2M 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.
PAI vs USDT and USDC
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PAI in the news
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PAI FAQ
What is PAI?
Parrot USD (PAI) is a crypto-backed US dollar stablecoin. It has about $4.2M in circulation, ranking #162 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What backs PAI?
PAI is a crypto-backed stablecoin. PAI 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 PAI on?
PAI is live on 1 blockchain. The largest by supply are Solana ($4.2M).
How much PAI is in circulation?
About $4.2M of PAI was in circulation at the last update, 0.0% over 30 days. That makes it the #162 stablecoin by supply among those we track.
Is PAI safe?
No stablecoin is risk-free. As a crypto-backed design, PAI'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 "no market price" on our peg monitor. This page is information, not investment advice.