USDSvsUSX
Sky Dollar vs Solstice USX — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDS — Sky Dollar
USX — Solstice USX
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USDS supply moved -11.1% and USX -2.1% — USX grew faster. USDS held the tighter band: worst deviation 4 bps against 10 bps.
Key differences
- USDS is roughly 13.2× larger than USX by USD circulation value ($6.70B vs $506.6M).
- USDS ranks #3 while USX ranks #20 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- Both are crypto-backed stablecoins, so the mechanism is not what separates them.
- Reserves differ — USDS holds backed by dai/usdc, USX holds overcollateralized cdp.
- USDS is deployed on 7 chains — much broader coverage than USX's 1.
- Primary chain differs — most USDS supply lives on Ethereum, while most USX supply is on Solana.
Full comparison table
| Metric | USDS | USX |
|---|---|---|
| USD circulation value | $6.70B | $506.6M |
| Rank (by USD value) | #3 | #20 |
| Peg | USD | USD |
| Mechanism | crypto-backed | crypto-backed |
| Backing | Backed by DAI/USDC | Overcollateralized CDP |
| Chains deployed | 7 | 1 |
| Primary chain | Ethereum | Solana |
| Issuer | Sky | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDS and USX?
Both track USD, so they compete for the same use cases. USDS holds backed by dai/usdc; USX holds overcollateralized cdp. USDS ranks #3 by USD value and USX ranks #20.
Which is bigger, USDS or USX?
USDS is larger, with $6.70B in circulation vs $506.6M for USX. That's roughly 13.2× the size.
Is USDS safer than USX?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. Both use a crypto-backed model, so the difference sits in the issuer and the reserves rather than the design. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDS and USX?
Yes. USDS and USX both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose USDS or USX?
The right choice depends on your use case. Consider: which chain do you need? USDS is available on 7 chains and USX on 1. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.