Backed Tokens
0.28%
−0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
23 USDE 23Ethena USDe | $1.00 | 0.00% | 0.00% | 0.18% | $3.98 B | $3.98 B | $32.37 M | |||
35 PAXG 35PAX Gold | $4,082.19 | 0.68% | 1.74% | 0.15% | $1.82 B | $1.82 B | $47.58 M | |||
151 AAPLX 151Apple xStock | $334.76 | 0.38% | 0.10% | 18.31% | $167.61 M | $167.61 M | $2.06 M | |||
153 SPYX 153SP500 xStock | $750.15 | 0.55% | 0.28% | 1.85% | $162.53 M | $162.53 M | $1.60 M | |||
284 MSTRX 284MicroStrategy xStock | $94.80 | 1.32% | −1.00% | 11.50% | $71.98 M | $71.98 M | $324,912.41 | |||
455 YUSD 455Aegis YUSD | $0.9964 | −0.25% | 0.66% | −0.29% | $40.51 M | $40.51 M | $401.05 | |||
1183 EUROP 1183Schuman EURØP | $1.14 | 0.00% | 0.00% | −1.72% | $8.04 M | $9.06 M | $28,704.00 | |||
1199 KYSOL 1199Kyros Restaked SOL | $98.76 | 1.87% | 0.55% | 6.97% | $7.80 M | $7.80 M | $4.85 | |||
1235 AllBTC 1235Osmosis allBTC | $65,370.00 | 1.12% | 2.01% | 8.74% | $7.39 M | $7.39 M | $243,595.00 | |||
1358 VDOGE 1358Venus DOGE | $0.001484 | −0.78% | 1.46% | −3.68% | $5.68 M | $5.68 M | $8.68 | |||
1428 RE7WETH 1428Re7 WETH | $2,045.81 | 3.64% | 5.17% | 23.93% | $4.98 M | $4.98 M | $0.00 | |||
1764 OBTC 1764BoringDAO BTC | $65,147.00 | 3.87% | 5.65% | 23.98% | $2.74 M | $2.74 M | $5.28 | |||
1772 CBAT 1772cBAT | $0.001564 | −1.52% | 0.26% | −11.42% | $2.69 M | $93.09 M | $0.00 | |||
1944 XSUSHI 1944xSUSHI | $0.2628 | 0.83% | 0.65% | 12.48% | $2.05 M | $16.05 M | $1,091.36 | |||
1979 FLRETH 1979Flare Staked Ether | $2,039.63 | 5.58% | 4.10% | 22.71% | $1.98 M | $1.98 M | $19,829.72 | |||
2135 SOL 2135Osmosis allSOL | $76.30 | 2.18% | 0.12% | 9.77% | $1.62 M | $1.62 M | $479.45 | |||
2342 RAI 2342Rai Reflex Index | $2.31 | 14.93% | 9.48% | 25.41% | $1.26 M | $1.26 M | $4,123.30 | |||
2373 FLETH 2373flETH | $1,956.40 | 3.80% | 5.33% | 24.05% | $1.22 M | $1.22 M | $29,760.00 | |||
2572 ETH 2572Osmosis allETH | $1,956.91 | 3.58% | 5.42% | 23.98% | $956,759.63 | $956,759.63 | $51,493.00 | |||
2760 CUNI 2760cUNI | $0.07956 | 5.67% | 12.21% | 31.82% | $779,206.38 | $779,206.38 | $4.16 | |||
2788 UUSDC 2788Universal USDC | $2.09 | 0.00% | 0.00% | 0.00% | $755,762.80 | $755,762.80 | $0.00 | |||
2904 HWHLP 2904Hyperwave HLP | $1.13 | 0.00% | 0.00% | 0.88% | $656,368.93 | $656,368.93 | $188.26 | |||
2920 USDT 2920Osmosis allUSDT | $0.9984 | −0.16% | 0.03% | −0.01% | $642,753.38 | $642,753.38 | $1,658.70 | |||
3285 PBTC 3285pTokens BTC [OLD] | $54,418.41 | 119.84% | 46944.32% | 16.99% | $428,556.07 | $428,556.07 | $628.35 | |||
3606 CASH 3606Opus CASH | $0.9981 | 0.58% | −0.09% | −0.01% | $308,622.90 | $125.48 M | $28,583.00 | |||
3967 CZRX 3967c0x | $0.001743 | 0.30% | 1.59% | 3.63% | $214,470.56 | $214,470.56 | $343.78 | |||
4287 USDFC 4287USDFC | $1.01 | −0.10% | 1.33% | 1.07% | $158,540.50 | $158,540.50 | $10,486.90 | |||
4292 MUSD 4292Meta USD | $0.9972 | −0.11% | −0.44% | 0.15% | $157,411.40 | $157,411.40 | $443.92 | |||
4382 OS 4382Origin Sonic | $0.02331 | −1.68% | −0.68% | 15.32% | $146,270.09 | $146,270.09 | $107.02 | |||
5063 LINK 5063Osmosis allLINK | $8.79 | 4.15% | 5.52% | 10.04% | $85,340.42 | $85,340.42 | $204.49 | |||
5741 MEUSD 5741Morpho eUSD | $1.03 | 0.00% | 0.19% | 1.47% | $49,479.64 | $49,479.64 | $39.01 | |||
6678 CGHS 6678cGHS | $0.08495 | −0.66% | −2.77% | −5.07% | $23,638.78 | $23,638.78 | $377.31 | |||
7181 REUSDC 7181Relend USDC | $0.01754 | 0.00% | 0.07% | 0.24% | $15,176.65 | $15,176.65 | $139.40 | |||
7288 WSTETH 7288Bridged Wrapped stETH | $2,371.21 | 3.18% | 4.71% | 24.42% | $13,848.62 | $13,848.62 | $94.74 | |||
8411 FXUSDC 8411f(x) Protocol Morpho USDC | $1.08 | 0.00% | 0.00% | 0.00% | $4,466.86 | $4,466.86 | $0.00 | |||
8610 RE7USDC 8610Re7 USDC | $1.04 | 0.00% | 0.00% | 0.00% | $3,261.76 | $3,261.76 | $0.00 | |||
8859 RE7FRAX 8859Re7 FRAX | $1.02 | 0.00% | 0.39% | 0.29% | $937.96 | $937.96 | $0.00 | |||
8897 MMAI 8897Morpho MAI | $1.04 | 0.00% | 0.29% | 2.66% | $324.68 | $324.68 | $0.00 | |||
8917 STEAKWBTC 8917Steakhouse WBTC Morpho Vault | $65,262.00 | 1.38% | 1.93% | 8.55% | $65.15 | $65.15 | $0.00 | |||
9011 ADAI 9011Aave DAI | $1.00 | 0.18% | 0.48% | 0.18% | -- | $5.45 M | $0.00 | |||
9018 ABAT 9018Aave BAT | $0.07668 | 0.27% | 1.27% | −9.57% | -- | $186,761.11 | $0.00 | |||
9019 ASNX 9019Aave SNX | $0.2228 | 3.98% | −5.03% | 8.64% | -- | $155,184.43 | $0.00 | |||
9020 ALINK 9020Aave LINK | $8.80 | 4.39% | 5.14% | 19.46% | -- | $66.72 M | $7.03 | |||
9021 ATUSD 9021Aave TUSD | $0.9972 | 0.25% | 0.43% | −0.04% | -- | $2.46 M | $0.00 | |||
9022 AKNC 9022Aave KNC | $0.1118 | −0.36% | 2.39% | 1.03% | -- | $3,131.06 | $0.00 | |||
9023 AZRX 9023Aave ZRX | $0.0854 | 1.25% | 0.50% | 5.21% | -- | $11,519.75 | $0.00 | |||
9024 AMKR 9024Aave MKR | $1,310.32 | −3.55% | −7.05% | 14.62% | -- | $2.25 M | $0.00 | |||
9025 ASUSD 9025Aave SUSD | $0.3022 | 2.94% | 4.48% | 29.95% | -- | $70,427.15 | $2.33 | |||
9026 AMANA 9026Aave MANA | $0.0697 | 1.79% | 2.00% | 5.32% | -- | $13,822.17 | $0.00 | |||
9027 ABUSD 9027Aave BUSD | $0.999 | 0.23% | 0.56% | 0.08% | -- | $284,224.49 | $0.00 | |||
9028 AUSDT 9028Aave USDT | $0.9994 | 0.10% | 0.37% | 0.23% | -- | -- | $1.38 | |||
9029 AWBTC 9029Aave WBTC | $65,556.00 | 1.05% | 2.50% | 9.40% | -- | $39.40 M | $2.33 | |||
9030 AUSDC 9030Aave USDC | $1.00 | 88.02% | 0.70% | 0.16% | -- | $22.62 M | $11,864.06 | |||
9044 RENBTCCURVE 9044LP renBTC Curve | $67,019.00 | 1.25% | 1.73% | 8.57% | -- | $4.73 M | $0.00 | |||
9053 AREN 9053Aave REN | $0.003403 | 1.06% | 3.20% | 5.05% | -- | $518.22 | $0.00 | |||
9054 AENJ 9054Aave ENJ | $0.0273 | 0.60% | −1.37% | −7.83% | -- | $3,826.68 | $0.00 | |||
9066 3CRV 9066LP 3pool Curve | $1.04 | 0.00% | 0.00% | 0.00% | -- | $181.39 M | $82,515.00 | |||
9072 WZEC 9072Wrapped Zcash | $363.26 | 5.36% | 11.93% | 20.50% | -- | $197,206.41 | $4.95 | |||
9110 AUSDC 9110Aave USDC v1 | $1.00 | 0.21% | 0.47% | 0.11% | -- | -- | $2.56 | |||
9111 ATUSD 9111Aave TUSD v1 | $0.9971 | 0.25% | 0.43% | −0.10% | -- | -- | $37.74 | |||
9112 ALINK 9112Aave LINK v1 | $8.79 | 4.27% | 5.02% | 19.46% | -- | $2.11 M | $1.65 | |||
9113 AMKR 9113Aave MKR v1 | $1,310.40 | −3.69% | −7.35% | 14.74% | -- | $75,248.21 | $0.00 | |||
9114 ASNX 9114Aave SNX v1 | $0.2228 | 3.95% | −5.08% | 8.80% | -- | $11,835.89 | $0.00 | |||
9115 ASUSD 9115Aave SUSD v1 | $0.3022 | 2.97% | 4.45% | 29.72% | -- | $34,514.98 | $10.93 | |||
9116 AMANA 9116Aave MANA v1 | $0.0696 | 1.65% | 1.91% | 5.38% | -- | $4,990.85 | $0.00 | |||
9117 AZRX 9117Aave ZRX v1 | $0.08549 | 1.37% | 1.62% | 5.00% | -- | $6,214.65 | $0.00 | |||
9118 AKNC 9118Aave KNC v1 | $0.1118 | −0.32% | 2.55% | 0.98% | -- | $5,637.46 | $0.00 | |||
9119 ABUSD 9119Aave BUSD v1 | $0.999 | 0.26% | 0.51% | 0.04% | -- | $297,707.99 | $0.00 | |||
9210 CVXCRV 9210Convex CRV | $0.09437 | −0.88% | 5.88% | 22.59% | -- | $2.99 M | $64,899.00 | |||
10232 USDT 10232Bridged USDT | $0.9981 | −0.11% | −0.23% | 0.11% | -- | -- | $3.50 M | |||
10252 USDC.E 10252USDC Bridged | $1.00 | −0.20% | −0.10% | 0.16% | -- | -- | $592,444.00 | |||
10541 GUSDC 10541Gains Network USDC | $1.11 | −2.63% | −0.89% | −1.77% | -- | $5.33 M | $1.03 | |||
10690 BTC.B 10690Avalanche Bridged BTC (Arbitrum One) | $65,555.81 | 1.36% | 2.24% | 8.89% | -- | $462,536.75 | $1,363.85 | |||
10727 STEAKUSDT 10727Steakhouse USDT Morpho Vault | $1.13 | 0.00% | 0.89% | 0.89% | -- | $12.17 M | $0.00 | |||
10740 RE7TBTC 10740Re7 tBTC | $65,205.00 | 1.18% | 1.62% | 8.44% | -- | -- | $0.00 | |||
10778 SSUI 10778sSUI | $0.7976 | 2.07% | −3.74% | 2.37% | -- | $4.88 M | $2.00 | |||
10790 lrtsSOL 10790Adrastea lrtsSOL | $86.35 | 1.10% | −1.22% | 3.27% | -- | -- | $453.66 | |||
10791 sonicSOL 10791Sonic Restaked SOL | $86.50 | 0.85% | 1.26% | 7.29% | -- | -- | $4.73 | |||
10852 ABASUSDBC 10852Aave v3 aBasUSDbC | $1.00 | −0.00% | 0.01% | 0.03% | -- | $172,349.51 | $1.97 | |||
10901 aEthUSDC 10901Aave Ethereum USDC | $1.00 | −0.26% | −0.11% | 0.42% | -- | -- | $1,136.69 | |||
XAUt Tether Gold | $4,079.20 | 0.50% | 1.52% | 0.17% | $2.50 B | $2.89 B | $172.60 M |
Frequently Asked Questions
What are backed tokens (asset-backed crypto)?
Backed tokens are digital assets whose value derives from an underlying reserve — fiat, crypto, a physical commodity, or a real-world security — typically pegged 1:1 or over-collateralized above 100%. Backed tokens stand opposite algorithmic or unbacked tokens. For investors, backed tokens offer redeemability and reserve transparency through attestation. DropsTab groups backed tokens into four sub-types: asset-backed stablecoins, commodity/gold tokens, tokenized equities, and DeFi collateral-receipt tokens, tracking 80+ members across those subdivisions.
How do backed tokens maintain their peg?
Backed tokens maintain value through a verifiable claim on a deposited reserve. Custodial backed tokens hold 1:1 reserves — PAX Gold (PAXG) represents one fine troy ounce of LBMA Good-Delivery bullion. Crypto-collateralized backed tokens over-collateralize above 100% — Liquity BOLD (BOLD) and Rai Reflex Index (RAI) back each token with excess crypto debt. Redemption enforces the peg: holders burn or redeem the token for the underlying asset. Attestation — monthly for Paxos, quarterly for Tether Gold — verifies reserves.
What is the difference between backed tokens and stablecoins?
Backed tokens are a broader category than stablecoins. Stablecoins target a fixed fiat peg — usually $1. Backed tokens include stablecoins but also track non-stable reserves: gold (PAX Gold, Tether Gold), equities (Apple xStock, SP500 xStock), and DeFi receipts (Aave aTokens). Tether Gold (XAUt) fluctuates with bullion prices, not a dollar peg. Asset-backed stablecoins form just one of four backed-token sub-types on DropsTab.
Which projects lead the backed tokens category by market cap?
Ethena USDe (USDE) is the largest asset-backed stablecoin in the category, collateralized through a delta-neutral crypto position rather than fiat custody. PAX Gold (PAXG) and Tether Gold (XAUt) anchor the commodity sub-type with physical bullion. Apple xStock (AAPLX), MicroStrategy xStock (MSTRX), and SP500 xStock (SPYX) lead tokenized equities, live since 30 Jun 2025. Aave aTokens (ADAI, AUSDC, AWBTC) dominate the DeFi receipt sub-type by count.
How are backed tokens evaluated by collateral quality?
Backed tokens are evaluated on collateral quality and claim strength, not price momentum. The collateralization ratio measures reserve backing — exactly 1:1 for custodial gold, equity, and fiat tokens, above 100% for crypto-debt tokens like BOLD. Proof-of-reserve cadence verifies reserves: xStocks use on-chain Chainlink proof-of-reserve, while PAX Gold publishes monthly Paxos attestations. Redemption mechanism and issuer custody structure — bankruptcy-remote SPV, regulated custodian — complete the assessment. No single cross-sub-type metric exists.
What are the four sub-types of backed tokens?
DropsTab divides backed tokens into four sub-types. Asset-backed stablecoins include Ethena USDe (USDE) and Frax USD (FRXUSD). Commodity/gold tokens include PAX Gold (PAXG) and Tether Gold (XAUt). Tokenized equities (xStocks) include Apple xStock (AAPLX) and SP500 xStock (SPYX). DeFi collateral-receipt tokens — Aave aTokens, Compound cTokens, Morpho/Steakhouse vaults, wrapped stETH, and restaked SOL variants — dominate the category by count. DropsTab tracks 80+ backed tokens across these four subdivisions.
Which tokens qualify as tokenized equities (xStocks)?
xStocks are tokenized US equities issued by Backed Finance with 1:1 custodial backing. Each xStock represents one share held by a regulated custodian (Clearstream/InCore) inside a bankruptcy-remote SPV, verified through Chainlink proof-of-reserve. Apple xStock (AAPLX), MicroStrategy xStock (MSTRX), and SP500 xStock (SPYX) went live 30 Jun 2025. xStocks bring custodied equity exposure on-chain — carrying securities-regulatory and custodial counterparty risk absent from purely on-chain crypto assets.
What are the risks of backed token investments?
Backed token risks vary by sub-type. Tokenized equities and stablecoins carry securities and stablecoin regulatory exposure plus custodial counterparty risk. Commodity tokens depend on attestation integrity and redemption logistics. DeFi receipt tokens add smart-contract, oracle, and underlying-protocol solvency risk — collateral impairment can trigger a de-peg or redemption gating. Concentration risk rises where one issuer dominates a sub-type, as Paxos does for gold-backed tokens. Proof-of-reserve transparency partially offsets these backed-token risks.
How to track backed tokens by market cap on DropsTab?
DropsTab tracks 80+ backed tokens across four sub-types on the Backed Tokens category page. The category scanner filters tokens by market cap and sub-type — separating asset-backed stablecoins, gold tokens, tokenized equities, and DeFi receipts. Investors compare collateral structure and issuer across Ethena USDe (USDE), PAX Gold (PAXG), and Apple xStock (AAPLX) side by side. Drops Bot alerts notify holders of new listings within the backed tokens category.