USDYvsUSX
Ondo US Dollar Yield vs Solstice USX — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDY — Ondo US Dollar Yield
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 USDY supply moved -0.9% and USX -2.1% — USDY grew faster. USX held the tighter band: worst deviation 10 bps against 1422 bps.
Key differences
- USDY is roughly 4.2× larger than USX by USD circulation value ($2.14B vs $506.6M).
- USDY ranks #11 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.
- USDY is a fiat-backed stablecoin; USX is crypto-backed. Different mechanism, different failure modes.
- Reserves differ — USDY holds tokenized us treasuries (ondo), USX holds overcollateralized cdp.
- USDY is deployed on 15 chains — much broader coverage than USX's 1.
- Primary chain differs — most USDY supply lives on Ethereum, while most USX supply is on Solana.
Full comparison table
| Metric | USDY | USX |
|---|---|---|
| USD circulation value | $2.14B | $506.6M |
| Rank (by USD value) | #11 | #20 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Tokenized US Treasuries (Ondo) | Overcollateralized CDP |
| Chains deployed | 15 | 1 |
| Primary chain | Ethereum | Solana |
| Issuer | Ondo Finance | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDY and USX?
Both track USD, so they compete for the same use cases. USDY holds tokenized us treasuries (ondo); USX holds overcollateralized cdp. USDY ranks #11 by USD value and USX ranks #20.
Which is bigger, USDY or USX?
USDY is larger, with $2.14B in circulation vs $506.6M for USX. That's roughly 4.2× the size.
Is USDY 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. USDY uses a fiat-backed model; USX uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDY and USX?
Yes. USDY 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 USDY or USX?
The right choice depends on your use case. Consider: which chain do you need? USDY is available on 15 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.