USDG vaults
About USDG vaults
Global Dollar USDG is used in 38 stablecoin vaults with $1.0B TVLacross 8 protocols. The largest vaults are Steakhouse USDG, syrupUSDG, Gauntlet USDG Premiumand the most popular vault protocols are Morpho, Spark and Lighter. The last 30 days' average yield is 5.6%.
7 vaults are excluded from this ranking due to minimum TVL requirements or risk issues.
About Global Dollar
Global Dollar (USDG) is a USD-backed stablecoin issued by Paxos, regulated by the Monetary Authority of Singapore. It is fully backed by cash and US Treasury bills with monthly attestation reports. USDG shares up to 100% of reserve yield with network partners including Kraken, Robinhood, Galaxy Digital, and Mastercard.
Global Dollar (USDG) is a USD-backed stablecoin issued by Paxos Digital Singapore Pte. Ltd. and governed under the Global Dollar Network — a consortium of major financial and crypto firms including Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood. Mastercard and Fiserv subsequently joined the network. USDG launched in November 2024 and is substantively compliant with the Monetary Authority of Singapore (MAS) stablecoin framework; it is also issued in Europe by Paxos Issuance Europe under MiCA supervision by the Finnish Financial Supervisory Authority (FIN-FSA).
Reserve backing
Every USDG token is backed 1:1 by high-quality liquid assets: US dollar deposits, short- duration US government securities, and equivalent cash instruments. Reserves are held and managed by Paxos Digital Singapore via DBS Bank, with monthly third-party attestation reports published publicly.
Yield-sharing model
The defining feature of USDG is its revenue-sharing design. Approximately 97% of the net interest income generated by the reserve assets is distributed back to Global Dollar Network partners in proportion to their contribution to USDG adoption and liquidity. Partners can earn yield on USDG balances held on their platforms and receive additional revenue for minting and accepting the token — an incentive structure intended to accelerate stablecoin adoption across exchanges, wallets, and payment networks.
Technical details
USDG is an ERC-20 token on Ethereum (contract 0xe343167631d89B6Ffc58B88d6b7fB0228795491D)
and is also available on Arbitrum, Ink, Robinhood Chain, Solana, and X Layer. Paxos publishes
the canonical USDG token addresses in its developer documentation, including the Robinhood
Chain deployment at 0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168.
Robinhood Chain support was announced by Global Dollar Network on 1 July 2026. The announcement describes USDG as the first stablecoin natively issued on Robinhood Chain and the default lending asset for Robinhood's onchain self-custodial Earn product.
The Ethereum contract uses OpenZeppelin's UUPS upgradeable proxy pattern. Source code is published at github.com/paxosglobal/usdg-contract.
Sources
Filters
Display
Hide vaults
Performance and risk
The vaults on the listing are limited to the current category. See all vaults.
| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Arcus HOOD (3x Short) Arcus | >9,999%* | --- | 59.9%* | 3.0 | 167.1% | -34.7% | USDG | $57.60K $249.94K | 0.1 | --- | Capped | Dangerous |  | ||
Lighter Robinhood Liquidity Provider (LLP) Lighter | 420.4% | 868.9% | 120.4% | 9.4 | 24.6% | -8.0% | USDG | $2.24M $2.26M | 0.3 | 0.0%/ 0.0% | Instant | Severe |  | ||
BTC (3x Short) Arcus | 357.4%* | --- | -6.9%* | 0.06 | 97.6% | -33.0% | USDG | $33.18K $64.82K | 0.2 | --- | Capped | Dangerous |  | ||
BTC (1x Short) Arcus | 72.8%* | --- | -0.4%* | 0.06 | 27.9% | -9.8% | USDG | $14.19K $38.58K | 0.2 | --- | Capped | Dangerous |  | ||
NetNet Credit Morpho | 28.2% | --- | 2.6% | 32.2 | 0.6% | 0.0% | USDG | $1.07M $2.01M | 0.1 | 0.0%/ 10.0% | Instant | Negligible |  | ||
ArcadiaV2 Global Dollar Debt Arcadia Finance | 16.8%* | --- | 2.3%* | 38.6 | 0.4% | 0.0% | USDG | $74.88K $100.24K | 0.1 | --- | Unknown | Unknown |  | ||
Senior ArcadiaV2 Global Dollar Arcadia Finance | 13.8%* | --- | 1.8%* | 28.6 | 0.5% | 0.0% | USDG | $87.59K $109.79K | 0.1 | --- | Unknown | Unknown |  | ||
Purinta USDG Morpho | 5.2% | --- | 0.6% | 22.3 | 0.1% | 0.0% | USDG | $69.22K $129.11K | 0.2 | 0.0%/ 5.0% | Instant | Negligible |  | ||
syrupUSDG Unknown vault protocol | 4.9%* | 5.0%* | 1.7%* | 74.9 | 0.1% | 0.0% | USDG | $345.08M $345.08M | 0.4 | --- | Capped | Unknown |  | ||
Steakhouse USDG Morpho | 3.9% | 3.6% | 1.1% | 127.7 | 0.0% | 0.0% | USDG | $541.86M $552.24M | 0.4 | 0.0%/ 0.0% | Instant | Negligible |  | ||
Spark Savings USDG Spark | 3.7%* | 3.6%* | 1.2%* | 79.4 | 0.0% | 0.0% | USDG | $13.65M $43.69M | 0.4 | 0.0%/ 0.0% | Instant | Negligible |  | ||
Wrapped Aave Global Dollar USDG Aave | 3.0% | --- | 0.4% | 13.6 | 0.2% | 0.0% | USDG | $161.31K $401.92K | 0.1 | 0.0%/ 0.0% | Instant | Low |  | ||
Wrapped Aave Core USDG Aave | 2.6% | 2.0% | 0.6% | 10.5 | 0.2% | 0.0% | USDG | $167.52K $405.06K | 0.4 | 0.0%/ 0.0% | Instant | Low |  | ||
Longbow Frontier USDG Morpho | 2.3% | --- | 0.5% | 12.5 | 0.2% | 0.0% | USDG | $62.83K $96.94K | 0.1 | 0.0%/ 10.0% | Instant | Negligible |  | ||
Steakhouse Turbo USDG Morpho | 1.9% | 3.3% | 1.3% | 13.3 | 0.2% | -0.0% | USDG | $50.81K $8.08M | 0.4 | 0.0%/ 0.0% | Instant | Negligible |  | ||
Longbow Core USDG Morpho | 0.0% | --- | 0.0% | 18.7 | 0.0% | 0.0% | USDG | $79.75K $105.15K | 0.1 | 0.0%/ 10.0% | Instant | Negligible |  | ||
GlobalMacro D2 Finance | 0.0% | --- | 0.0% | --- | 0.0% | 0.0% | USDG | $100.00K $100.00K | 0.2 | 0.0%/ 20.0% | 62d 20h | High |  | ||
Grove x Steakhouse USDG Morpho | 0.0% | 0.2% | 0.1% | 3.8 | 0.1% | 0.0% | USDG | $100.00K $2.03M | 0.3 | 0.0%/ 0.0% | Instant | Negligible |  | ||
The Kingfisher Vault T3tris | -9.7% | --- | -0.6% | 2.7 | 0.7% | 0.0% | USDG | $210.82K $210.82K | 0.2 | 0.0%/ 30.0% | Unknown | Low |  | ||
BTC (1x Long) Arcus | -31.7%* | --- | 2.5%* | 0.6 | 28.3% | -5.1% | USDG | $35.47K $79.95K | 0.2 | --- | Capped | Dangerous |  | ||
Arcus SPCX (3x Long) Arcus | -71.0%* | --- | -10.3%* | 0.1 | 175.5% | -43.9% | USDG | $13.59K $155.74K | 0.09 | --- | Capped | Dangerous |  | ||
BTC (3x Long) Arcus | -92.9%* | --- | 64.1%* | 1.9 | 186.8% | -25.4% | USDG | $74.05K $117.73K | 0.2 | ---/ 0.0% | Capped | Dangerous |  | ||
Arcus GME (5x Short) Arcus | -99.6%* | --- | -45.9%* | -0.9 | 279.9% | -74.6% | USDG | $10.53K $97.24K | 0.09 | --- | Capped | Dangerous |  | ||
HOOD (3x Long) Arcus | -100.0%* | --- | -27.2%* | 0.4 | 232.8% | -66.9% | USDG | $152.08K $771.19K | 0.2 | ---/ 0.0% | Capped | Dangerous |  | ||
Gauntlet USDG Premium Morpho | --- | --- | 0.1% | 45.4 | 0.1% | 0.0% | USDG | $94.05M $94.05M | 0.06 | 0.0%/ 10.0% | Instant | Negligible |  | ||
Steakhouse USDG Pro Morpho | --- | --- | 0.1% | 72.6 | 0.0% | 0.0% | USDG | $43.57M $44.80M | 0.05 | 0.0%/ 10.0% | Instant | Negligible |  | ||
Robinhood Borrowable Supply Unknown vault protocol | --- | --- | 0.0%* | 1,480.2 | 0.0% | 0.0% | USDG | $300.10K $300.10K | 0.06 | --- | Unknown | Unknown |  | ||
Robinhood Borrowable Supply Unknown vault protocol | --- | --- | 0.0%* | 1,480.2 | 0.0% | 0.0% | USDG | $300.10K $300.10K | 0.06 | --- | Unknown | Unknown |  | ||
Robinhood Borrowable Supply Unknown vault protocol | --- | --- | 0.0%* | 57.3 | 0.0% | 0.0% | USDG | $300.11K $300.11K | 0.06 | --- | Unknown | Unknown |  | ||
Yuno USDG Passive Credit Vault Unknown vault protocol | --- | --- | 0.1%* | 10.4 | 0.1% | 0.0% | USDG | $16.09K $87.35K | 0.05 | --- | Unknown | Unknown |  | ||
Robinhood Borrowable Supply Unknown vault protocol | --- | --- | 0.0%* | 1,480.2 | 0.0% | 0.0% | USDG | $300.10K $300.10K | 0.06 | --- | Unknown | Unknown |  | ||
GlobalMacro_sub D2 Finance | --- | --- | 0.0% | --- | 0.0% | 0.0% | USDG | $100.00K $100.00K | 0.07 | 0.0%/ 20.0% | 17m | High |  | ||
Yearn Stonk USDG Morpho | --- | --- | 0.0% | --- | 0.1% | 0.0% | USDG | $201.75K $201.75K | 0.03 | 0.0%/ 10.0% | Instant | Negligible |  | ||
Robinhood Borrowable Supply Unknown vault protocol | --- | --- | 0.0%* | 1,480.2 | 0.0% | 0.0% | USDG | $300.10K $300.10K | 0.06 | --- | Unknown | Unknown |  | ||
Purinta USDG Mock Morpho | --- | --- | 0.0% | --- | 0.0% | 0.0% | USDG | $53.76K $53.76K | 0.07 | 0.0%/ 5.0% | Instant | Negligible |  | ||
Galaxy USDG Stock Tokens Morpho | --- | --- | 0.1% | 13.1 | 0.1% | -0.0% | USDG | $2.00M $2.14M | 0.04 | 0.0%/ 0.0% | Instant | Negligible |  | ||
Sirius Guard Morpho | --- | --- | 0.0% | --- | 0.0% | 0.0% | USDG | $79.43K $79.43K | 0.008 | 0.0%/ 5.0% | Instant | Negligible |  | ||
Borro USDG Morpho | --- | --- | 0.0% | 5.7 | 0.0% | 0.0% | USDG | $24.38K $27.57K | 0.05 | 0.0%/ 10.0% | Instant | Negligible |  |
Stay ahead with the best new vaults and essential DeFi updates.
Subscribe to Trading Strategy newsletter