Backed Tokens
0.29%
−0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
24 USDE 24Ethena USDe | $0.9995 | 0.03% | 0.06% | −0.07% | $4.41 B | $4.41 B | $97.59 M | |||
36 PAXG 36PAX Gold | $4,136.28 | −1.03% | 4.34% | −4.11% | $1.87 B | $1.87 B | $32.49 M | |||
195 FRXUSD 195Frax USD | $0.9997 | 0.01% | 0.03% | −0.01% | $112.35 M | $112.35 M | $6.31 M | |||
428 SPYX 428SP500 xStock | $756.29 | 0.54% | 1.42% | 1.80% | $40.34 M | $196.61 M | $3.37 M | |||
466 YUSD 466Aegis YUSD | $0.9987 | 0.36% | 0.03% | 0.13% | $35.94 M | $35.94 M | $63,882.00 | |||
531 MSTRX 531MicroStrategy xStock | $101.76 | −5.00% | 9.96% | −14.99% | $32.28 M | $118.25 M | $4.07 M | |||
1135 KYSOL 1135Kyros Restaked SOL | $105.59 | 0.54% | 10.38% | 29.49% | $8.29 M | $8.29 M | $64.69 | |||
1168 EUROP 1168Schuman EURØP | $1.14 | 0.11% | 0.25% | −0.58% | $7.81 M | $7.81 M | $5,682.38 | |||
1181 AAPLX 1181Apple xStock | $315.20 | 2.64% | 11.71% | 1.97% | $7.55 M | $200.86 M | $11.41 M | |||
1235 MAUSDC 1235Matic Aave Interest Bearing USDC | $1.18 | 0.00% | 0.85% | 6.31% | $6.77 M | $6.77 M | $4.39 | |||
1256 AllBTC 1256Osmosis allBTC | $64,039.00 | 0.83% | 7.09% | 4.05% | $6.53 M | $6.53 M | $1.40 M | |||
1312 VDOGE 1312Venus DOGE | $0.001551 | −1.89% | 5.20% | −8.21% | $5.92 M | $5.92 M | $8.68 | |||
1470 RE7WETH 1470Re7 WETH | $1,880.67 | 0.58% | 12.82% | 13.14% | $4.58 M | $4.58 M | $0.00 | |||
1677 CBAT 1677cBAT | $0.001833 | −0.58% | 8.63% | 5.52% | $3.18 M | $3.18 M | $0.00 | |||
1849 OBTC 1849BoringDAO BTC | $59,686.42 | 0.40% | 12.67% | 15.31% | $2.51 M | $2.51 M | $34.28 | |||
2004 XSUSHI 2004xSUSHI | $0.2614 | 2.42% | 11.20% | −3.28% | $2.04 M | $15.96 M | $1,703.29 | |||
2087 FLRETH 2087Flare Staked Ether | $1,889.71 | 0.83% | 12.68% | 12.46% | $1.84 M | $1.84 M | $5,892.02 | |||
2148 SOL 2148Osmosis allSOL | $80.82 | 1.92% | 8.97% | 26.72% | $1.72 M | $1.72 M | $286.42 | |||
2193 CUNI 2193cUNI | $0.0649 | −0.42% | 10.24% | 18.21% | $1.62 M | $1.62 M | $1.90 | |||
2463 RAI 2463Rai Reflex Index | $2.13 | 0.47% | 17.68% | 6.04% | $1.16 M | $1.16 M | $4,176.86 | |||
2504 FLETH 2504flETH | $1,794.20 | 0.46% | 12.75% | 12.56% | $1.11 M | $1.11 M | $20,059.00 | |||
2725 ETH 2725Osmosis allETH | $1,794.40 | 0.61% | 12.84% | 13.01% | $848,333.25 | $848,333.25 | $76,669.00 | |||
2834 UUSDC 2834Universal USDC | $2.09 | 0.00% | 0.00% | 0.00% | $755,762.80 | $755,762.80 | $0.00 | |||
2917 HWHLP 2917Hyperwave HLP | $1.14 | 0.00% | 0.00% | 0.00% | $685,626.83 | $685,626.83 | $333.98 | |||
3001 USDT 3001Osmosis allUSDT | $0.9997 | 0.14% | 0.09% | −0.50% | $622,871.59 | $622,871.59 | $7,136.32 | |||
3687 CASH 3687Opus CASH | $0.9978 | −0.02% | −0.00% | 0.00% | $308,530.14 | $308,530.14 | $2,320.85 | |||
4019 CZRX 4019c0x | $0.001831 | −0.81% | 11.69% | 5.88% | $225,333.82 | $225,333.82 | $343.78 | |||
4126 OS 4126Origin Sonic | $0.02692 | −0.24% | 10.88% | −10.79% | $202,718.72 | $202,718.72 | $709.82 | |||
4359 MUSD 4359Meta USD | $1.05 | −2.04% | 5.39% | 7.56% | $166,961.32 | $166,961.32 | $25.17 | |||
4482 USDFC 4482USDFC | $1.01 | 0.00% | 1.41% | −0.10% | $150,690.84 | $150,690.84 | $23,160.00 | |||
4693 FXUSDC 4693f(x) Protocol Morpho USDC | $1.08 | 0.00% | 0.09% | 0.09% | $127,188.42 | $127,188.42 | $0.00 | |||
5285 LINK 5285Osmosis allLINK | $8.31 | −0.48% | 11.84% | 9.47% | $79,878.14 | $79,878.14 | $530.32 | |||
5768 MEUSD 5768Morpho eUSD | $1.03 | 0.10% | 0.10% | 0.48% | $54,755.89 | $54,755.89 | $39.01 | |||
6820 CGHS 6820cGHS | $0.08805 | −0.26% | −1.04% | 2.51% | $24,116.77 | $24,116.77 | $12,821.92 | |||
7367 REUSDC 7367Relend USDC | $0.01751 | 0.03% | 0.07% | 0.16% | $15,150.70 | $15,150.70 | $139.40 | |||
7408 WSTETH 7408Bridged Wrapped stETH | $2,189.15 | 0.90% | 13.85% | 14.38% | $14,706.18 | $14,706.18 | $72.99 | |||
7696 BSTR 7696BigStrategy Inc | $0.00001175 | 0.02% | 3.83% | −6.08% | $11,750.00 | $11,750.00 | $4.81 | |||
7697 MMAI 7697Morpho MAI | $1.01 | 0.10% | 0.30% | 0.79% | $11,740.72 | $11,740.72 | $0.00 | |||
9002 RE7USDC 9002Re7 USDC | $1.04 | 0.00% | 0.00% | 0.00% | $3,261.76 | $3,261.76 | $0.00 | |||
9251 PBTC 9251pTokens BTC [OLD] | $127.78 | −99.71% | −99.73% | −99.19% | $1,006.29 | $1,006.29 | $21.75 | |||
9256 RE7FRAX 9256Re7 FRAX | $1.01 | 0.00% | 0.00% | −1.07% | $935.21 | $935.21 | $0.00 | |||
9307 STEAKWBTC 9307Steakhouse WBTC Morpho Vault | $63,956.00 | 0.61% | 7.05% | 4.35% | $63.85 | $63.85 | $0.00 | |||
9414 ADAI 9414Aave DAI | $0.9998 | 0.08% | −0.32% | 0.14% | -- | $5.44 M | $0.00 | |||
9420 ABAT 9420Aave BAT | $0.08898 | −1.59% | 8.59% | 4.14% | -- | $216,718.88 | $0.00 | |||
9421 ASNX 9421Aave SNX | $0.2234 | −3.45% | 6.21% | −7.00% | -- | $155,602.34 | $0.00 | |||
9422 ALINK 9422Aave LINK | $8.02 | −0.25% | 9.56% | 6.23% | -- | $60.80 M | $7.03 | |||
9423 ATUSD 9423Aave TUSD | $0.9975 | −0.21% | −0.35% | 0.27% | -- | $2.46 M | $0.00 | |||
9424 AKNC 9424Aave KNC | $0.1118 | −0.72% | 3.36% | −6.75% | -- | $3,122.74 | $0.00 | |||
9425 AZRX 9425Aave ZRX | $0.08866 | −1.53% | 12.66% | 6.74% | -- | $11,960.67 | $0.00 | |||
9426 AMKR 9426Aave MKR | $1,300.67 | −1.64% | 8.58% | −1.46% | -- | $2.23 M | $0.00 | |||
9427 ASUSD 9427Aave SUSD | $0.2823 | 3.01% | 18.78% | −48.28% | -- | $65,789.48 | $2.33 | |||
9428 AMANA 9428Aave MANA | $0.0702 | −1.51% | 10.89% | 4.99% | -- | $13,917.82 | $0.00 | |||
9429 ABUSD 9429Aave BUSD | $0.9971 | −0.03% | −0.27% | 0.19% | -- | $283,683.92 | $0.00 | |||
9430 AUSDT 9430Aave USDT | $0.9985 | −0.02% | −0.35% | 0.08% | -- | -- | $116.20 | |||
9431 AWBTC 9431Aave WBTC | $63,832.00 | 0.43% | 8.12% | 3.33% | -- | $38.36 M | $2.33 | |||
9432 AUSDC 9432Aave USDC | $0.9999 | 0.07% | −0.31% | 0.17% | -- | $22.54 M | $27,101.00 | |||
9447 RENBTCCURVE 9447LP renBTC Curve | $65,560.00 | 0.63% | 6.81% | 4.08% | -- | $4.63 M | $0.00 | |||
9456 AREN 9456Aave REN | $0.003288 | −0.15% | 0.92% | 11.24% | -- | $500.70 | $0.00 | |||
9457 AENJ 9457Aave ENJ | $0.03001 | 2.05% | 3.04% | −0.06% | -- | $4,459.69 | $0.00 | |||
9471 3CRV 9471LP 3pool Curve | $1.02 | −1.41% | −1.41% | −0.84% | -- | $178.77 M | $154,524.65 | |||
9478 WZEC 9478Wrapped Zcash | $311.09 | −6.33% | 1.97% | −27.05% | -- | $168,884.38 | $9.66 | |||
9525 AUSDC 9525Aave USDC v1 | $0.9989 | −0.03% | −0.41% | 0.17% | -- | -- | $2.56 | |||
9526 ATUSD 9526Aave TUSD v1 | $0.9975 | −0.00% | −0.35% | 0.05% | -- | -- | $37.74 | |||
9527 ALINK 9527Aave LINK v1 | $8.02 | −0.25% | 9.56% | 6.36% | -- | $1.92 M | $1.65 | |||
9528 AMKR 9528Aave MKR v1 | $1,301.11 | −1.61% | 8.69% | −0.99% | -- | $74,727.39 | $0.00 | |||
9529 ASNX 9529Aave SNX v1 | $0.2232 | −3.53% | 6.14% | −7.00% | -- | $11,857.10 | $0.00 | |||
9530 ASUSD 9530Aave SUSD v1 | $0.2823 | 2.94% | 18.70% | −48.52% | -- | $32,241.61 | $10.93 | |||
9531 AMANA 9531Aave MANA v1 | $0.07009 | −1.62% | 10.73% | 4.77% | -- | $5,025.99 | $0.00 | |||
9532 AZRX 9532Aave ZRX v1 | $0.08866 | −1.59% | 12.73% | 6.51% | -- | $6,445.09 | $0.00 | |||
9533 AKNC 9533Aave KNC v1 | $0.1118 | −0.66% | 3.52% | −6.95% | -- | $5,647.25 | $0.00 | |||
9534 AETH 9534Aave ETH v1 | $2,138.63 | 2.54% | 20.44% | 36.51% | -- | $6.56 M | $4.34 | |||
9535 ABUSD 9535Aave BUSD v1 | $0.9971 | 0.14% | −0.27% | 0.20% | -- | $297,141.78 | $0.00 | |||
9632 CVXCRV 9632Convex CRV | $0.08752 | 1.46% | 16.29% | 16.61% | -- | $2.78 M | $9,735.19 | |||
10009 OGS 10009Ouro Governance Share | $0.0₉801 | −97.40% | −97.24% | −98.61% | -- | $0.0801 | $2.39 | |||
10736 USDT 10736Bridged USDT | $1.00 | 0.18% | 0.18% | −0.26% | -- | -- | $3.74 M | |||
10756 USDC.E 10756USDC Bridged | $1.00 | 0.32% | 0.10% | 0.03% | -- | -- | $2.26 M | |||
11069 GUSDC 11069Gains Network USDC | $1.15 | 0.00% | −10.85% | −10.85% | -- | $6.12 M | $100.07 | |||
11224 BTC.B 11224Avalanche Bridged BTC (Arbitrum One) | $63,299.23 | 0.34% | 6.60% | 2.86% | -- | $467,133.23 | $33.04 | |||
11265 STEAKUSDT 11265Steakhouse USDT Morpho Vault | $1.12 | 0.00% | 0.00% | 0.00% | -- | $12.07 M | $0.00 | |||
11276 RE7TBTC 11276Re7 tBTC | $63,764.00 | 0.30% | 6.65% | 3.98% | -- | -- | $0.00 | |||
11319 SSUI 11319sSUI | $0.8005 | −2.93% | 4.39% | 2.03% | -- | $4.89 M | $6.99 | |||
11331 lrtsSOL 11331Adrastea lrtsSOL | $91.64 | −2.08% | 4.42% | 30.01% | -- | -- | $527.81 | |||
11332 sonicSOL 11332Sonic Restaked SOL | $92.98 | −1.51% | 10.29% | 28.77% | -- | -- | $0.9126 | |||
11398 ABASUSDBC 11398Aave v3 aBasUSDbC | $0.9998 | −0.00% | 0.02% | 0.01% | -- | $172,205.98 | $1.97 | |||
11457 aEthUSDC 11457Aave Ethereum USDC | $0.9865 | −1.39% | −1.13% | −3.52% | -- | -- | $338.52 | |||
11619 BIGOD 11619Bingold | $55,174.87 | −0.42% | 2.32% | −2.24% | -- | $137.94 B | $99.50 | |||
11635 JPGC 11635JP Gold Coin | $131.15 | 0.51% | 0.51% | −8.80% | -- | $1.39 B | $65.57 | |||
XAUt Tether Gold | $4,134.49 | −0.93% | 4.27% | −3.91% | $2.53 B | $2.93 B | $56.67 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.