Backed Tokens
0.24%
−0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
22 USDE 22Ethena USDe | $0.9999 | 0.01% | 0.05% | 0.00% | $4.90 B | $4.90 B | $54.23 M | |||
47 PAXG 47PAX Gold | $4,299.36 | 1.14% | −1.76% | −7.47% | $1.87 B | $1.87 B | $79.93 M | |||
244 MSTRX 244MicroStrategy xStock | $163.48 | 2.70% | 18.65% | 33.13% | $101.38 M | $249.47 M | $2.20 M | |||
329 SPYX 329SP500 xStock | $774.31 | 0.86% | 0.67% | 0.38% | $67.25 M | $208.33 M | $16.75 M | |||
478 YUSD 478Aegis YUSD | $0.9997 | 0.16% | −0.66% | 0.01% | $40.65 M | $40.65 M | $827.93 | |||
904 EUROP 904Schuman EURØP | $1.14 | 0.00% | −0.87% | −2.29% | $16.30 M | $9.06 M | $56,591.00 | |||
999 KYSOL 999Kyros Restaked SOL | $155.49 | 5.08% | 12.16% | 18.99% | $13.41 M | $13.41 M | $7,962.17 | |||
1014 AAPLX 1014Apple xStock | $337.03 | −0.20% | −0.41% | 8.26% | $13.14 M | $214.90 M | $3.36 M | |||
1266 AllBTC 1266Osmosis allBTC | $74,108.00 | 2.24% | −5.39% | −6.74% | $8.37 M | $8.37 M | $139,806.00 | |||
1308 MAUSDC 1308Matic Aave Interest Bearing USDC | $1.35 | −0.74% | 9.76% | 1.50% | $7.74 M | $7.74 M | $98.32 | |||
1354 VDOGE 1354Venus DOGE | $0.001975 | 4.60% | 12.51% | 6.54% | $7.11 M | $7.74 M | $0.00 | |||
1377 RE7WETH 1377Re7 WETH | $2,844.79 | 2.71% | 8.00% | 9.01% | $6.92 M | $6.92 M | $0.00 | |||
1748 OBTC 1748BoringDAO BTC | $89,317.59 | 1.67% | 6.40% | 10.80% | $3.75 M | $3.75 M | $13.55 | |||
1836 XSUSHI 1836xSUSHI | $0.4066 | 5.66% | 3.26% | 28.65% | $3.17 M | $24.83 M | $5,227.11 | |||
1943 CBAT 1943cBAT | $0.001893 | 3.70% | 20.02% | 32.56% | $2.73 M | $112.67 M | $0.00 | |||
1948 FLRETH 1948Flare Staked Ether | $2,868.98 | 3.32% | 6.98% | 8.17% | $2.70 M | $2.70 M | $7,516.15 | |||
1999 SOL 1999Osmosis allSOL | $119.26 | 5.01% | 12.00% | 18.84% | $2.54 M | $2.54 M | $776.20 | |||
2200 FLETH 2200flETH | $2,718.26 | 2.88% | 8.09% | 8.90% | $1.94 M | $1.94 M | $29,392.00 | |||
2239 CUNI 2239cUNI | $0.1915 | 5.24% | 4.71% | 113.61% | $1.85 M | $1.85 M | $0.00 | |||
2425 RAI 2425Rai Reflex Index | $2.95 | −4.23% | −4.85% | 3.70% | $1.48 M | $1.48 M | $7,228.83 | |||
2637 ETH 2637Osmosis allETH | $2,715.11 | 2.59% | 8.09% | 8.87% | $1.14 M | $1.14 M | $149,402.00 | |||
3013 UUSDC 3013Universal USDC | $2.09 | 0.00% | 0.00% | 0.00% | $755,762.80 | $755,762.80 | $0.00 | |||
3256 USDT 3256Osmosis allUSDT | $0.9998 | 0.01% | 0.06% | −0.00% | $589,632.09 | $589,632.09 | $6,954.06 | |||
3542 HWHLP 3542Hyperwave HLP | $1.14 | 0.00% | 0.00% | 2.70% | $435,437.07 | $435,434.08 | $22.75 | |||
3917 CZRX 3917c0x | $0.00257 | 6.28% | 7.31% | 25.61% | $308,643.77 | $308,643.77 | $0.00 | |||
3927 CASH 3927Opus CASH | $0.994 | 0.63% | 1.12% | 1.34% | $307,355.14 | $124.96 M | $7,287.43 | |||
4065 BOLD 4065Liquity BOLD | $0.8181 | 3.74% | 0.79% | −8.08% | $274,339.62 | $274,339.62 | $0.73 | |||
4574 USDFC 4574USDFC | $1.01 | 0.00% | −6.62% | −0.49% | $185,296.89 | $185,296.89 | $27,598.00 | |||
4889 MUSD 4889Meta USD | $0.9987 | 0.35% | 0.59% | 0.03% | $145,319.77 | $145,319.77 | $5,150.94 | |||
5002 OS 5002Origin Sonic | $0.04112 | 6.71% | 35.86% | 42.50% | $133,336.73 | $133,336.73 | $3,341.28 | |||
5080 LINK 5080Osmosis allLINK | $13.90 | 13.76% | 16.82% | 21.45% | $125,729.57 | $125,729.57 | $15,246.92 | |||
6503 MEUSD 6503Morpho eUSD | $1.03 | 0.00% | 0.29% | 0.00% | $46,440.23 | $46,440.23 | $0.00 | |||
7478 CGHS 7478cGHS | $0.08645 | 1.08% | −0.31% | −3.80% | $23,888.00 | $23,888.00 | $395.20 | |||
8424 REUSDC 8424Relend USDC | $0.01782 | 0.06% | 0.38% | 1.06% | $12,505.64 | $12,505.64 | $0.00 | |||
8582 BSTR 8582BigStrategy Inc | $0.00001132 | 1.14% | −3.91% | −3.95% | $11,320.00 | $11,320.00 | $22.53 | |||
9794 FXUSDC 9794f(x) Protocol Morpho USDC | $1.08 | 0.00% | 0.09% | 0.00% | $3,636.59 | $3,636.59 | $0.00 | |||
9835 RE7USDC 9835Re7 USDC | $1.04 | 0.00% | −0.10% | −0.10% | $3,261.76 | $3,261.76 | $0.00 | |||
10004 PBTC 10004pTokens BTC [OLD] | $126.39 | −99.82% | −99.81% | 6.28% | $995.34 | $995.34 | $5.74 | |||
10009 RE7FRAX 10009Re7 FRAX | $1.02 | 0.20% | 0.79% | 0.10% | $937.96 | $937.96 | $0.00 | |||
10053 MMAI 10053Morpho MAI | $1.04 | 0.10% | 4.72% | 2.36% | $324.06 | $324.06 | $0.00 | |||
10073 STEAKWBTC 10073Steakhouse WBTC Morpho Vault | $84,780.00 | 1.74% | 8.37% | 6.78% | $84.64 | $84.64 | $0.00 | |||
10171 ADAI 10171Aave DAI | $1.00 | −0.30% | 0.11% | −0.23% | -- | $5.45 M | $0.00 | |||
10177 ABAT 10177Aave BAT | $0.09266 | 4.76% | 22.23% | 33.32% | -- | $225,681.86 | $0.00 | |||
10178 ASNX 10178Aave SNX | $0.2584 | 11.25% | 15.50% | 11.35% | -- | $179,980.50 | $0.00 | |||
10179 ALINK 10179Aave LINK | $13.22 | 5.64% | 14.06% | 15.62% | -- | $100.23 M | $0.37 | |||
10180 ATUSD 10180Aave TUSD | $1.00 | −0.33% | 0.21% | −0.18% | -- | $2.47 M | $0.00 | |||
10181 AKNC 10181Aave KNC | $0.1466 | 4.61% | 7.76% | 25.96% | -- | $4,145.08 | $0.00 | |||
10182 AZRX 10182Aave ZRX | $0.1229 | 4.65% | 7.51% | 23.98% | -- | $15,353.56 | $0.00 | |||
10183 AMKR 10183Aave MKR | $1,696.00 | 5.64% | 14.91% | 4.57% | -- | $2.91 M | $0.00 | |||
10184 ASUSD 10184Aave SUSD | $0.4285 | 2.54% | 7.91% | 8.71% | -- | $99,861.19 | $0.00 | |||
10185 AMANA 10185Aave MANA | $0.09236 | 11.10% | 18.44% | 22.01% | -- | $18,315.87 | $0.00 | |||
10186 ABUSD 10186Aave BUSD | $1.00 | −0.31% | 0.19% | −0.23% | -- | $284,793.50 | $0.00 | |||
10187 AUSDT 10187Aave USDT | $1.00 | 0.02% | 0.15% | −0.21% | -- | $11.64 M | $0.00 | |||
10188 AWBTC 10188Aave WBTC | $84,807.00 | 1.49% | 7.99% | 6.83% | -- | -- | $0.00 | |||
10189 AUSDC 10189Aave USDC | $0.9432 | −6.04% | −11.39% | −5.99% | -- | $19.24 M | $163,853.65 | |||
10203 RENBTCCURVE 10203LP renBTC Curve | $87,000.00 | 1.65% | 8.31% | 6.73% | -- | $5.91 M | $0.00 | |||
10209 AREN 10209Aave REN | $0.002854 | 1.30% | −9.60% | −19.88% | -- | $179.89 | $0.00 | |||
10210 AENJ 10210Aave ENJ | $0.02852 | 4.62% | 7.65% | 2.98% | -- | $3,976.82 | $0.00 | |||
10225 3CRV 10225LP 3pool Curve | $1.01 | 1.27% | 6.98% | −4.29% | -- | $177.38 M | $4,989.04 | |||
10233 WZEC 10233Wrapped Zcash | $411.77 | 1.43% | 7.58% | 4.27% | -- | $223,541.49 | $53.57 | |||
10284 AUSDC 10284Aave USDC v1 | $1.00 | −0.30% | 0.11% | −0.21% | -- | -- | $0.00 | |||
10285 ATUSD 10285Aave TUSD v1 | $1.00 | −0.33% | 0.21% | −0.18% | -- | -- | $0.00 | |||
10286 ALINK 10286Aave LINK v1 | $13.90 | 13.69% | 16.46% | 21.20% | -- | $3.32 M | $0.00 | |||
10287 AMKR 10287Aave MKR v1 | $1,696.00 | 5.61% | 14.62% | 4.70% | -- | $62,051.85 | $0.00 | |||
10288 ASNX 10288Aave SNX v1 | $0.2584 | 11.25% | 15.50% | 11.35% | -- | $13,678.08 | $0.00 | |||
10289 ASUSD 10289Aave SUSD v1 | $0.4285 | 2.54% | 7.91% | 8.71% | -- | $48,940.27 | $0.00 | |||
10290 AMANA 10290Aave MANA v1 | $0.09236 | 11.10% | 18.44% | 21.85% | -- | $6,479.13 | $0.00 | |||
10291 AZRX 10291Aave ZRX v1 | $0.1227 | 4.79% | 7.51% | 23.71% | -- | $8,867.20 | $0.00 | |||
10292 AKNC 10292Aave KNC v1 | $0.1466 | 4.61% | 7.76% | 25.82% | -- | $7,365.25 | $0.00 | |||
10293 AETH 10293Aave ETH v1 | $2,653.70 | 0.73% | 10.82% | 18.04% | -- | $8.14 M | $53.55 | |||
10294 ABUSD 10294Aave BUSD v1 | $1.00 | −0.31% | 0.19% | −0.23% | -- | $298,304.00 | $0.00 | |||
10326 MADAI 10326Matic Aave Interest Bearing DAI | $1.14 | 98.99% | 98.99% | 1.81% | -- | $350,800.80 | $1.09 | |||
10401 CVXCRV 10401Convex CRV | $0.1444 | 2.35% | 6.40% | 0.37% | -- | $4.58 M | $13,173.65 | |||
11605 USDT 11605Bridged USDT | $0.9998 | 0.01% | 0.06% | −0.00% | -- | -- | $8.72 M | |||
11629 USDC.E 11629USDC Bridged | $0.9999 | 0.01% | 0.03% | −0.01% | -- | -- | $821,343.00 | |||
11960 GUSDC 11960Gains Network USDC | $1.13 | −3.42% | −10.32% | −12.40% | -- | $3.99 M | $138.01 | |||
12083 BTC.B 12083Avalanche Bridged BTC (Arbitrum One) | $85,282.36 | 2.46% | 8.61% | 6.79% | -- | $595,646.20 | $6,109.85 | |||
12105 STEAKUSDT 12105Steakhouse USDT Morpho Vault | $1.13 | 0.00% | 0.00% | 0.00% | -- | $12.17 M | $0.00 | |||
12113 RE7TBTC 12113Re7 tBTC | $84,784.00 | 1.63% | 8.32% | 6.61% | -- | -- | $0.00 | |||
12146 SSUI 12146sSUI | $1.17 | 11.43% | 32.62% | 27.32% | -- | $7.15 M | $1,496.21 | |||
12157 lrtsSOL 12157Adrastea lrtsSOL | $137.56 | 3.95% | 11.04% | 18.72% | -- | -- | $636.88 | |||
12158 sonicSOL 12158Sonic Restaked SOL | $136.05 | 2.71% | 10.04% | 17.96% | -- | -- | $4,796.07 | |||
12212 ABASUSDBC 12212Aave v3 aBasUSDbC | $0.9999 | 0.01% | 0.01% | −0.01% | -- | $154,155.95 | $0.00 | |||
12250 aEthUSDC 12250Aave Ethereum USDC | $1.00 | 1.45% | 0.12% | 0.52% | -- | -- | $79,683.26 | |||
12373 BIGOD 12373Bingold | $61,221.00 | 0.78% | 5.14% | 3.62% | -- | $153.05 B | $17.57 | |||
XAUt Tether Gold | $4,302.60 | 0.94% | −1.81% | −7.21% | $2.68 B | $3.05 B | $91.08 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.