24h Change+0.01%
All Time HighJun 2, 2026$11.1
All Time LowFeb 26, 2025$10.29
Market Cap$914.58m
Fully Diluted Valuation$916.28m
Circ. Supply82.4m USTB
CEX Volume$0
DEX Volume$0
How much debt can be issued against USTB as collateral across lending protocols.
Maximum possible exposure to USTB
$31.03m
$19.53m (max additional borrows against USTB) + $11.5m (bad debt if USTB was hacked now)
Aave V3
$19.53m at-risk exposure = -- bad debt if hacked + $19.53m additional borrowable against USTB
Maple
$11.5m at-risk exposure = $11.5m bad debt if hacked + $0 additional borrowable against USTB
Showing collateral exposure for USTB on Ethereum. 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.
Each row is one protocol-chain exposure for USTB as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
USTB0x43415eb6ff9db7e26a15b704e7a3edce97d31c4e | $19.53m | — | ||
USTB0x43415eb6ff9db7e26a15b704e7a3edce97d31c4e | $0 | $11.5m |
Risk-management actions published about USTB by tracked risk managers and governance contributors, newest first.
Superstate's USTB selected for up to $300M allocation in the Spark Tokenization Grand Prix, aiming to onboard tokenized RWAs into Sky's collateral composition if governance approves.
USTB features daily mints and burns with next-day settlement maximums, supported by a reputable team and high AUM for fast redemptions. Its leading risk-adjusted yield, lower fees than BUIDL, and strong structure position it well for spreading reserve exposure away from concentrated holdings.
USTB provides tokenized exposure to short-duration U.S. Treasury securities via a highly regulated private fund under Section 3(c)(7), targeting returns aligned with the federal funds rate through investments managed by Federated Hermes and custodied at UMB Bank. Its daily NAV-based liquidity and annual EY audits support low-risk integration, though Aave DAO should establish an SPV to address U.S. regulatory and jurisdictional risks.
Superstate’s USTB, a tokenized U.S. Treasury Bill product, is proposed for a 50:50 allocation in the GHO GSM to diversify reserves and yield sources. It offers transparency via Chainlink oracles, bankruptcy-remote structure with UMB Bank as custodian and Ernst & Young as auditor, and competitive yields with waived fees under $200M AUM.
LlamaRisk details risk assessment criteria for tokenized securities like USTB, focusing on AUM, product maturity, legal/regulatory compliance, decentralization assurances, secondary market liquidity, redemption processing times, and investor onboarding requirements to inform Aave governance evaluations.
An is required to view token usage.
An is required to view token liquidations.
Tracking 4 pools, average APY 3.41%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSTB | 🪂 | $730.13m | 3.41% | 3.41% | 3.30% | ||||
| open in new tabUSTBAave Horizon Market | $66.59m | 0% | 0% | 0% | |||||
| open in new tabUSTB | 🪂 | $9.2m | 3.41% | 3.41% | 3.30% | ||||
| open in new tabUSTB | 🪂 | $2.06m | 3.41% | 3.41% | 3.30% |
Showing 10 of 25 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSTB ➞ WBTC | $1.996b | -0.31% | 0% | -0.35% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ CBBTC | $1.095b | -0.27% | 0% | -0.30% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ WETH | $759.43m | -1.83% | 0% | -2.09% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ USDE | $142.25m | -2.31% | 0% | -2.63% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ TBTC | $129.87m | -0.24% | 0% | -0.27% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ LINK | $78.84m | -0.73% | 0% | -0.83% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ WETH | $4.77m | -1.77% | 0% | -2.01% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ LUSD | $1.33m | -1.85% | 0% | -2.10% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ CRVUSD | $133,443 | -2.25% | 0% | -2.56% | 88% | $66.59m | $0 | ||
| open in new tabUSTB ➞ GHO | $8,045 | -2.42% | 0% | -2.75% | 88% | $66.59m | $0 |
