Avalon USDa (USDA) is a crypto-backed US dollar stablecoin. It has about $146M in circulation, ranking #40 among the stablecoins CoinScoop tracks, and runs on 18 blockchains.
What is USDA?
Avalon USDa (USDA) is a crypto-backed US dollar stablecoin. It has about $146M in circulation, ranking #40 among the stablecoins CoinScoop tracks, and runs on 18 blockchains.
In the issuer's words: USDa is the flagship CDP (Collateralized Debt Position) product based on Avalon's CeDeFi lending platform.
USDA supply history
USDA supply was flat over the past 30 days. Its peak was $318M in April 2025, and supply is 54% below that high.
Is USDA holding its peg?
There is no live market price for USDA. 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 USDA lives: supply by blockchain
USDA is spread across several networks. The largest, Ethereum, holds 60% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How USDA is backed
USDA 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: USDa is minted by depositing collateral or USDT (1:1) into Avalon CeDeFi, while redemptions require loan repayment or conversion to USDT.
USDA 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.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDA vs USDT and USDC
Similar crypto-backed stablecoins
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USDA FAQ
What is USDA?
Avalon USDa (USDA) is a crypto-backed US dollar stablecoin. It has about $146M in circulation, ranking #40 among the stablecoins CoinScoop tracks, and runs on 18 blockchains.
What backs USDA?
USDA is a crypto-backed stablecoin. USDA 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 USDA on?
USDA is live on 18 blockchains. The largest by supply are Ethereum ($86.7M), Movement ($36.7M), BSC ($11.1M).
How much USDA is in circulation?
About $146M of USDA was in circulation at the last update, 0.0% over 30 days. That makes it the #40 stablecoin by supply among those we track.
Is USDA safe?
No stablecoin is risk-free. As a crypto-backed design, USDA'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. It currently shows "no market price" on our peg monitor. This page is information, not investment advice.