About this Chart

• Spot DEXs: total stablecoins held as liquidity in spot decentralized exchanges
• Perp DEXs: total stablecoins held as collateral in perp decentralized exchanges
• Lending Protocols: total stablecoins available as liquidity in a lending protocol (deposits - borrows)
• CeFi: total stablecoins held at centralized exchanges, casinos, governments
• Privacy: total amount of stablecoins held in privacy-related pools
• Payments: stablecoins held as collateral for payment cards
• Staking: stablecoins staked in a contract to receive rewards or as a backstop
• Unknown