# USDA > USDA is a decentralized, yield-bearing stablecoin pegged to the U.S. Dollar, developed by Angle Protocol. It is over-collateralized and designed to offer holder... - Canonical URL: https://iq.wiki/wiki/usda - Categories: Cryptoassets - Created: 2025-10-30T12:33:07.010Z - Last updated: 2026-07-15T23:08:16.501Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **USDA** is a decentralized, over-collateralized, and yield-bearing [stablecoin](https://iq.wiki/wiki/stablecoin) pegged to the U.S. Dollar. Developed by [Angle](https://iq.wiki/wiki/angle), it is designed to maintain a 1:1 parity with the USD while providing a native yield to its holders derived from the protocol's reserve assets. [\[1\]](#cite-id-2rQeecTuEL) [\[2\]](#cite-id-zlbMCtS9bh) ## Overview USDA was created to function as a stable, transparent, and capital-efficient on-chain representation of the U.S. Dollar. The [stablecoin](https://iq.wiki/wiki/stablecoin) is a core component of the [Angle](https://iq.wiki/wiki/angle) ecosystem, which aims to build robust infrastructure for [decentralized finance (DeFi)](https://iq.wiki/wiki/defi). A key feature of USDA is its ability to generate a native yield for its holders. This yield is sourced from the returns generated by the portfolio of assets that back the [stablecoin](https://iq.wiki/wiki/stablecoin), combining earnings from both [DeFi](https://iq.wiki/wiki/defi) and traditional finance (TradFi) sources. [\[1\]](#cite-id-2rQeecTuEL) [\[2\]](#cite-id-zlbMCtS9bh) The [stablecoin](https://iq.wiki/wiki/stablecoin) was also designed to work in synergy with [Angle's](https://iq.wiki/wiki/angle) other products, most notably its Euro-pegged [stablecoin](https://iq.wiki/wiki/stablecoin), EURA. By offering both a reliable on-chain dollar and euro, the protocol seeks to create highly liquid and efficient on-chain foreign exchange (forex) markets. This allows users to swap between the two currencies with minimal friction. The project positions itself as a foundational element for various [DeFi](https://iq.wiki/wiki/defi) applications, including trading, lending, borrowing, and payments, by providing a [stable](https://iq.wiki/wiki/stable) unit of account with an embedded savings rate. [\[3\]](#cite-id-1CcRRw3Khe) ## Use Cases * **Stable Store of Value**: Users can hold USDA to avoid the price volatility associated with other cryptocurrencies. * **Earning Yield**: The native savings feature allows holders to earn a passive return on their [stablecoin](https://iq.wiki/wiki/stablecoin) holdings. * **On-Chain Foreign Exchange**: USDA can be swapped efficiently with Angle's EURA [stablecoin](https://iq.wiki/wiki/stablecoin), facilitating on-chain forex trading. * **Payments and Transfers**: Its [stable](https://iq.wiki/wiki/stable) value makes it suitable for paying contributors, settling transactions, and sending money internationally with low fees. * **DeFi Integration**: As a composable ERC-20 token, USDA can be integrated permissionlessly into other DeFi protocols for lending, borrowing, and liquidity provision. [\[1\]](#cite-id-2rQeecTuEL) ### Ecosystem * **Primary Network**: USDA was initially launched on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain), with the official contract address `0x0000206329b97DB379d5E1Bf586BbDB969C63274`. * **Other Networks**: The [stablecoin](https://iq.wiki/wiki/stablecoin) is supported on over 13 chains, including Layer 2 solutions like [Base](https://iq.wiki/wiki/base) and [Optimism](https://iq.wiki/wiki/optimism), as well as other [Layer 1](https://iq.wiki/wiki/layer-1) [blockchains](https://iq.wiki/wiki/blockchain) such as [BNB Smart Chain](https://iq.wiki/wiki/binance-bridged-usdc-bnb-smart-chain) and [Cardano](https://iq.wiki/wiki/cardano-ada). This multi-chain [strategy](https://iq.wiki/wiki/strategy) allows users to interact with USDA in different [DeFi](https://iq.wiki/wiki/defi) ecosystems while taking advantage of lower transaction fees. [\[2\]](#cite-id-zlbMCtS9bh) [\[1\]](#cite-id-2rQeecTuEL) ### Trading and Liquidity * **Uniswap**: The most active market for USDA is on [Uniswap](https://iq.wiki/wiki/uniswap) v3 on the [Ethereum](https://iq.wiki/wiki/ethereum) network, particularly the USDA/EURA trading pair, which accounts for a significant portion of its daily volume. * **Other DEXs**: The [stablecoin](https://iq.wiki/wiki/stablecoin) is also traded on other prominent [DEXs](https://iq.wiki/wiki/decentralized-exchange), including [Aerodrome Finance](https://iq.wiki/wiki/aerodrome-finance) on [Base](https://iq.wiki/wiki/base) (USDA/[USDC](https://iq.wiki/wiki/usdc) pair) and [Velodrome Finance](https://iq.wiki/wiki/velodrome-finance) v2 on [Optimism](https://iq.wiki/wiki/optimism) (USDA/[USDC](https://iq.wiki/wiki/usdc) pair). It is also listed on [PancakeSwap](https://iq.wiki/wiki/pancakeswap) (BSC) and Minswap ([Cardano](https://iq.wiki/wiki/cardano-ada)). * **Centralized Exchanges**: USDA is listed on the [centralized exchange](https://iq.wiki/wiki/cex-centralized-exchange) IndoEx, though its volume on [CEXs](https://iq.wiki/wiki/cex-centralized-exchange) is generally lower than on [DEXs](https://iq.wiki/wiki/decentralized-exchange). [\[2\]](#cite-id-zlbMCtS9bh) ## Tokenomics The tokenomics of USDA are designed to reflect its function as a [stablecoin](https://iq.wiki/wiki/stablecoin), with its supply expanding and contracting based on user demand for [minting](https://iq.wiki/wiki/minting) and redemption. The total and circulating supply of USDA is dynamic. As of late 2025, the total supply was reported to be approximately 30,031,636 USDA, with a corresponding [market capitalization](https://iq.wiki/wiki/market-capitalization) of around $30.05 million. The entire supply is considered to be in circulation. [\[2\]](#cite-id-zlbMCtS9bh) ## Governance The governance and security of the [Angle](https://iq.wiki/wiki/angle) Protocol are managed through a combination of on-chain mechanisms, specialized committees, and external audits. * **Security Audits**: The smart contracts for the [Angle](https://iq.wiki/wiki/angle) Protocol, including those governing USDA, are described as having undergone multiple security audits to identify and mitigate potential vulnerabilities. * **Asset Liability Management Committee**: A key component of the protocol's risk management framework is the Asset Liability Management Committee. This body, stated to be led by experts in [reserve](https://iq.wiki/wiki/reserve) management, is responsible for overseeing the composition of the protocol's reserves, assessing risks, and setting investment strategies for the [collateral](https://iq.wiki/wiki/collateral) backing USDA. This governance structure blends elements of traditional financial risk management with decentralized operations. * **Development Team**: The protocol is developed and maintained by [Angle](https://iq.wiki/wiki/angle) Labs Inc., the core entity responsible for its ongoing research and development. [\[1\]](#cite-id-2rQeecTuEL)