⌘KTry LlamaAI

Falcon USD(USDf)

Token Price$1

24h Change+0.071%

All Time HighMay 8, 2025$1.08

All Time LowJul 8, 2025$0.94

Key Metrics

Market Cap$1.579b

Fully Diluted Valuation$1.579b

Circ. Supply1.586b USDf

Volume 24h$1.99m

CEX Volume$1.78m

DEX Volume$231,846

Risks

How much debt can be issued against USDf as collateral across lending protocols.

Maximum possible exposure to USDf

$51,877

$50,836 (max additional borrows against USDf) + $1,040 (bad debt if USDf was hacked now)

Euler V2

$51,761 at-risk exposure = $995.07 bad debt if hacked + $50,766 additional borrowable against USDf

Lista Lending

$115.54 at-risk exposure = $45.42 bad debt if hacked + $70.12 additional borrowable against USDf

Morpho V1

$0.021 at-risk exposure = < $0.0001 bad debt if hacked + $0.021 additional borrowable against USDf

Methodology and limitations

Showing collateral exposure for USDf on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.

These metrics describe lending exposure only and are not a full protocol risk rating.
This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.

Show exposure details

Each row is one protocol-chain exposure for USDf as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.

Protocol	Chain
Euler V2	Ethereum	USDf0xfa2b947eec368f42195f24f36d2af29f7c24cec2	$50,766	$995.07
Lista Lending	BSC	USDF0x5a110fc00474038f6c02e89c707d638602ea44b5	$70.12	$45.42
Morpho V1	Ethereum	USDf0xfa2b947eec368f42195f24f36d2af29f7c24cec2	$0.021	< $0.0001

Risk Timeline

Risk-management actions published about USDf by tracked risk managers and governance contributors, newest first.

1 action

risk managerLlama Riskllamarisk.com

4 months ago

→Falcon USDf Asset Risk Assessment

USDf shows strong adoption with circulating supply reaching 2.1B and 1.1% market share among Ethereum stablecoins, supported by overcollateralized minting from stables like USDT/USDC and RWAs. Peg stability is generally resilient with deviations under 1%, though downward breaks reached 0.85% and recovery averaged 22 hours during 155 stress events; supply is highly centralized at 99.82% in top 100 holders, and liquidity totals ~60M across key DEX pools.

Markets

Token Usage

An is required to view token usage.

Yields

Tracking 10 pools, average APY 2.66%

Pool	Project
open in new tab USDT-USDF0.01%	Uniswap V3	$10.06m	0.06%	0.06%		0.05%
open in new tab USDC-USDF	Curve DEX	$3.37m	3.58%	0.67%	2.91%	3.72%
open in new tab USDC-USDF	Convex Finance	$1.68m	6.85%	0.67%	6.18%	7.35%
open in new tab USDF-USDCConvex	Beefy	$1.24m	6.50%			7.05%
open in new tab USDT-USDF0.01%	PancakeSwap AMM V3	$1.01m	0%	0%		0%
open in new tab USDFUSD Flow on Flow EVM	🪂MORE Markets	$709,147	0%	0%		0%
open in new tab USDFFor buying PT-USDf-18JUN2026	Pendle	$148,931	2.20%	2.20%		2.14%
open in new tab USDFFor LP \| Maturity 18JUN2026	Pendle	$148,931	0.17%	0.17%		0.17%
open in new tab USDC-USDFCurve	Stake DAO	$80,622	6.76%	0.69%	6.07%	7.25%
open in new tab USDFEVK Vault eUSDf-1	Euler V2	$13,548	0.43%	0.43%		1.32%

Borrow

Tracking 5 routes

Pool	Project
open in new tabUSDF ➞ ANKRFLOWEVM	🪂MORE Markets	$1.58m	0%	0%	0%	75%	$719,570	$10,423
open in new tabUSDF ➞ WFLOW	🪂MORE Markets	$456,785	-1.89%	0%	-2.53%	75%	$719,570	$10,423
open in new tabUSDF ➞ STGUSDC	🪂MORE Markets	$307,781	-2.22%	0%	-2.96%	75%	$719,570	$10,423
open in new tabUSDF ➞ PYUSD0	🪂MORE Markets	$154,296	-7.34%	0%	-9.79%	75%	$719,570	$10,423
open in new tabUSDF ➞ WETH	🪂MORE Markets	$117,963	0%	0%	0%	75%	$719,570	$10,423

Overview