USYCvsUSDf
Circle USYC vs Falcon USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USYC — Circle USYC
USDf — Falcon USD
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USYC supply moved -3.6% and USDf -0.3% — USDf grew faster. USDf held the tighter band: worst deviation 54 bps against 1328 bps.
Key differences
- USYC is roughly 2.4× larger than USDf by USD circulation value ($3.00B vs $1.26B).
- USYC ranks #8 while USDf ranks #14 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- USYC is a fiat-backed stablecoin; USDf is crypto-backed. Different mechanism, different failure modes.
- USYC reports tokenized us treasuries in reserve. We do not track a published reserve breakdown for USDf.
- Chain coverage is comparable: USYC on 2 chains, USDf on 2.
- Primary chain differs — most USYC supply lives on BSC, while most USDf supply is on Ethereum.
Full comparison table
| Metric | USYC | USDf |
|---|---|---|
| USD circulation value | $3.00B | $1.26B |
| Rank (by USD value) | #8 | #14 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Tokenized US Treasuries | Delta-neutral (Falcon) |
| Chains deployed | 2 | 2 |
| Primary chain | BSC | Ethereum |
| Issuer | Circle | Falcon Finance |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USYC and USDf?
Both track USD, so they compete for the same use cases. USYC holds tokenized us treasuries. We track no published reserve breakdown for USDf. USYC ranks #8 by USD value and USDf ranks #14.
Which is bigger, USYC or USDf?
USYC is larger, with $3.00B in circulation vs $1.26B for USDf. That's roughly 2.4× the size.
Is USYC safer than USDf?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. USYC uses a fiat-backed model; USDf uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USYC and USDf?
Yes. USYC and USDf 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 USYC or USDf?
The right choice depends on your use case. Consider: which chain do you need? USYC is available on 2 chains and USDf 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.