zkUSD Dollar (zkUSD) is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #214 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is zkUSD?
zkUSD Dollar (zkUSD) is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #214 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: zkUSD is an algorithmic stablecoin whose value is pegged to the US Dollar. The peg is maintained by an algorithmic over-collateralization of assets. This means that the value of zkUSD is kept stable at $1 by always having more assets within the sportsbook backing it than its value, ensuring that it is a stable medium of exchange within the Goal3 sportsbook.
zkUSD supply history
zkUSD supply was flat over the past 30 days. Its peak was $1.5M in January 2024, and supply is 20% below that high.
Is zkUSD holding its peg?
zkUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where zkUSD lives: supply by blockchain
Supply is concentrated: ZKsync Era holds 100% of all zkUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How zkUSD is backed
zkUSD 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 official mint/redemption gateway is the Goal3 Portal. 1 $zkUSD can always be redeemed through the portal into 1 USDC. Other venues of exchange for $zkUSD include SyncSwap and MEXC exchange.
zkUSD 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 $1.2M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
zkUSD vs USDT and USDC
Similar crypto-backed stablecoins
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zkUSD FAQ
What is zkUSD?
zkUSD Dollar (zkUSD) is a crypto-backed US dollar stablecoin. It has about $1.2M in circulation, ranking #214 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is zkUSD pegged 1:1 to the US dollar?
zkUSD 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 zkUSD?
zkUSD is a crypto-backed stablecoin. zkUSD 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 zkUSD on?
zkUSD is live on 1 blockchain. The largest by supply are ZKsync Era ($1.2M).
How much zkUSD is in circulation?
About $1.2M of zkUSD was in circulation at the last update, 0.0% over 30 days. That makes it the #214 stablecoin by supply among those we track.
Is zkUSD safe?
No stablecoin is risk-free. As a crypto-backed design, zkUSD'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.