VAI is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #210 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
VAI price
$0.9961
On peg Circulating supply
$1.2M
30-day change
-5.0%
Price
$0.9961
Blockchains
1
Tracked since
Dec 2020
What is VAI?
VAI is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #210 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: Vai is Venus Protocol's decentralized synthetic stablecoin that is pegged to USD.
VAI supply history
$2.7M$1.1M
Oct 28, 2025Oct 28, 2026
$229M$0
Dec 31, 2020Oct 28, 2026
VAI supply fell 5.0% over the past 30 days, to $1.2M. Its peak was $319M in May 2021, and supply is 100% below that high.
Is VAI holding its peg?
Last price
$0.9961
Target
1.0000 USD
Status
On pegVAI is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where VAI lives: supply by blockchain
Supply is concentrated: BSC holds 100% of all VAI. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How VAI is backed
VAI 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: VAI is minted by supplying and locking a single or basket of cryptocurrencies. VAI is exchangeable to all supporting assets, including USD, which can be redeemed directly to your bank account in the Swipe Wallet platform for verified users.
VAI 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.
VAI vs USDT and USDC
Similar crypto-backed stablecoins
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VAI in the news
Canada caps stablecoin redemption fees at 1% and bans yield
Kraken opens BTC and ETH options to eligible EEA clients
Arbitrum proposes controlled restart for Stylus activations
VAI FAQ
What is VAI?
VAI is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #210 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is VAI pegged 1:1 to the US dollar?
VAI targets 1 USD. At the last update it traded at $0.9961, a deviation of -0.39%, which we classify as "on peg".
What backs VAI?
VAI is a crypto-backed stablecoin. VAI 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 VAI on?
VAI is live on 1 blockchain. The largest by supply are BSC ($1.2M).
How much VAI is in circulation?
About $1.2M of VAI was in circulation at the last update, -5.0% over 30 days. That makes it the #210 stablecoin by supply among those we track.
Is VAI safe?
No stablecoin is risk-free. As a crypto-backed design, VAI'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.