USD-pegged · fiat-backed · #61 by USD value
Ondo U.S. Dollar Token (USDon) is a USD-pegged fiat-backed stablecoin, backed by onchain treasury. It currently ranks #61 among tracked stablecoins by circulating supply, and is deployed across 2 blockchains. Data is updated daily at 00:00 UTC from DefiLlama.
| Chain | Share | Supply |
|---|---|---|
| BSC | 57.5% | $41.5M |
| Ethereum | 42.5% | $30.7M |
Ondo U.S. Dollar Token (USDon) is a USD-pegged stablecoin backed by onchain treasury. Its peg mechanism is fiat-backed, and it currently ranks #61 among tracked stablecoins by circulating supply.
USDon has a circulating supply of $72.2M (USD equivalent). Data updates daily at 00:00 UTC from DefiLlama.
USDon is backed by Onchain treasury. This means holders' claims are collateralized in that form, with reserves reported by the issuer.
USDon is deployed across 2 blockchains, with BSC holding the largest share of supply. See the Chain Distribution section on this page for the full breakdown.
USDon shares a USD peg with USDT and USDC — the market's two largest stablecoins — but differs in issuer, backing composition, and typical use cases. USDT and USDC together account for the majority of USD stablecoin supply; USDon ranks #61.
| Full Name | Ondo U.S. Dollar Token |
| Symbol | USDon |
| Peg | USD |
| Peg Mechanism | fiat-backed |
| Backing | Onchain treasury |
| Chains Deployed | 2 |
| CoinGecko | View on CoinGecko → |
| Data Source | DefiLlama → |
| Last Updated | 2026-07-27 · refreshes daily 00:00 UTC |