USDf is a yield-bearing synthetic stablecoin by Falcon Finance, launched in 2025, with a supply exceeding $2 billion.
Key Data
| Backing | Overcollateralized with stablecoins, BTC, ETH, SOL, and other top cryptocurrencies. |
| Auditor | Harris & Trotter LLP |
| Reserve Reporting | Independent quarterly audit reports and weekly verification via Transparency Page. |
| Redemption | Users can mint USDf by depositing approved collateral, including stablecoins and cryptocurrencies like BTC and ETH. |
| Peg Currency | USD |
| Launched | 2025 |
Supported Networks
Overview
USDf is a synthetic stablecoin introduced by Falcon Finance in early 2025. It has quickly grown to become the 8th largest stablecoin by supply.
How It Works
Users can mint USDf by depositing approved collateral, including stablecoins and cryptocurrencies like BTC and ETH. Staking USDf allows users to mint sUSDf, the yield-generating version of USDf.
Reserve Backing
USDf is overcollateralized, backed by a diversified reserve portfolio including stablecoins, Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other top cryptocurrencies. The reserves are audited by Harris & Trotter LLP.
Supported Networks
USDf is deployed on multiple blockchain networks, including Ethereum, BNB Chain, and XRPL EVM.