USDSvsUSYC
Sky Dollar vs Circle USYC — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDS — Sky Dollar
USYC — Circle USYC
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 USYC -3.6% — USYC grew faster. USDS held the tighter band: worst deviation 4 bps against 1328 bps.
Key differences
- USDS is roughly 2.2× larger than USYC by USD circulation value ($6.70B vs $3.00B).
- USDS ranks #3 while USYC ranks #8 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- USDS is a crypto-backed stablecoin; USYC is fiat-backed. Different mechanism, different failure modes.
- Reserves differ — USDS holds backed by dai/usdc, USYC holds tokenized us treasuries.
- USDS is deployed on 7 chains — much broader coverage than USYC's 2.
- Primary chain differs — most USDS supply lives on Ethereum, while most USYC supply is on BSC.
Full comparison table
| Metric | USDS | USYC |
|---|---|---|
| USD circulation value | $6.70B | $3.00B |
| Rank (by USD value) | #3 | #8 |
| Peg | USD | USD |
| Mechanism | crypto-backed | fiat-backed |
| Backing | Backed by DAI/USDC | Tokenized US Treasuries |
| Chains deployed | 7 | 2 |
| Primary chain | Ethereum | BSC |
| Issuer | Sky | Circle |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDS and USYC?
Both track USD, so they compete for the same use cases. USDS holds backed by dai/usdc; USYC holds tokenized us treasuries. USDS ranks #3 by USD value and USYC ranks #8.
Which is bigger, USDS or USYC?
USDS is larger, with $6.70B in circulation vs $3.00B for USYC. That's roughly 2.2× the size.
Is USDS safer than USYC?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. USDS uses a crypto-backed model; USYC uses a fiat-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDS and USYC?
Yes. USDS and USYC 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 USYC?
The right choice depends on your use case. Consider: which chain do you need? USDS is available on 7 chains and USYC on 2. 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.