Abracadabra (MIM)

Aave

Largest DeFi lending protocol

Aave is the largest decentralized money market, where users supply and borrow assets across multiple chains. Stablecoins (USDC, USDT, USDS, DAI) dominate its borrow markets, and Aave also issues its own overcollateralized stablecoin GHO. Aave V3 holds roughly $19B+ TVL as of 2026, making it the deepest source of onchain stablecoin liquidity. Its V4 architecture and Horizon RWA markets extend lending to institutional and tokenized assets.

Acala (aUSD)

Polkadot-native overcollateralized stablecoin aUSD

Acala is the DeFi hub of Polkadot and issues aUSD, a decentralized overcollateralized stablecoin backed by crypto collateral via a CDP system. aUSD suffered a misconfiguration exploit in 2022 that was largely remediated.

Aegis

Bitcoin-backed yield-bearing dollar (YUSD)

Aegis issues YUSD, a decentralized, Bitcoin-backed yield-bearing stablecoin pegged 1:1 to the US dollar. BTC collateral is held with institutional custodians (Fireblocks, Copper, CEFFU) and kept off centralized exchanges, while a delta-neutral hedging strategy using BTC-margined perpetuals keeps the peg stable. YUSD earns yield from perpetual funding-rate capture and basis trading, distributed to holders without staking or lockups, with full proof-of-reserves transparency. Aegis also offers a Yield-as-a-Service product for wallets and exchanges.

Alchemix

Self-repaying loans with alUSD

Alchemix issues alUSD, a synthetic stablecoin minted against yield-bearing collateral, where the yield generated automatically repays the user's debt over time (self-repaying loans, 0% interest). It also offers alETH.

Ampleforth

Elastic-supply rebasing currency (AMPL) and SPOT stable asset

Ampleforth issues AMPL, an elastic-supply token whose balances rebase daily to push price toward a target (the 2019 CPI-adjusted dollar) rather than holding a fixed peg. The protocol also issues SPOT, a flatcoin-style inflation-resistant store of value collateralized by AMPL derivatives via the Buttonwood/Tranche system. It is governed by the FORTH token.

Angle Protocol

Decentralized over-collateralized USD and EUR stablecoins

Angle Protocol is a decentralized, capital-efficient, over-collateralized stablecoin protocol running on multiple chains. Its main products are USDA, a dollar stablecoin, and EURA (formerly agEUR, rebranded in March 2024), one of the most liquid euro stablecoins in DeFi, along with savings products. Every USDA and EURA is fully collateralized and redeemable 1:1. The protocol is built by Angle Labs and focuses on on-chain forex efficiency.