204 stablecoins
Coverage across supported chains, classified by governance, backing, and peg currency.
About Pharos
Most trackers show price. Pharos shows risk.
We monitor 204 stablecoins with honest classification, live reserve feeds, forward-looking depeg warnings, and the only public blacklist tracker covering 35 coins across 9 chains — because knowing what a stablecoin is worth means knowing what could make it fail.
Reference pages
Reference Pages
Funding
Running costs, supporter ledger, and public sustainability path
Methodology
Reference manual for formulas, thresholds, and changelogs
Coverage
Truth surface for what each route can show per coin
API Reference
Auth model, key requirement, and full endpoint reference
Changelog
Weekly release notes and feature updates
Why it exists
Why Pharos?
Stablecoins are the backbone of on-chain finance, yet the data to evaluate them is scattered, inconsistent, or buried behind paywalls. Worse, marketing claims rarely match reality: a "decentralized" stablecoin may rely entirely on centralized collateral. An issuer can freeze balances without warning. A deep liquidity pool on one DEX can evaporate overnight. And when a major stablecoin fails, the collateral chains transmit that stress to dozens of derivatives that looked safe in isolation.
Pharos was built to make these risks visible. It tracks 204 live stablecoins, 11 upcoming launches, and 88 dead ones, then scores the live universe with honest governance classification, transitive dependency scoring, and live reserve composition where available. Real-time depeg detection, freeze monitoring across 35 stablecoins, safety grades that cap scores based on upstream exposure, and a 30-minute ecosystem-wide stability index give you the full picture before a crisis makes the headlines.
Pharos is a public good. The dashboard stays free, the code is open source, and sustainability comes from community support plus future paid API access for heavy programmatic usage. See the funding ledger or get started and make the most of it.
For architecture, methodology, and design references, use the documentation archive.
The team
Who Is Building Pharos?
TokenBrice created Pharos and leads product direction, scoring methodology, and the data pipeline. Ike drives growth and communications, getting Pharos in front of the people who need it. The engineering is AI-native: most of the codebase is written and maintained by Claude and Codex, from the worker pipeline and scoring engine to the frontend and daily digest.
In the wild
Live Walkthrough
TokenBrice walked through Pharos live on Leviathan News, covering the motivation behind the project, how the data pipeline works, and how the main risk signals should be read in practice.
Watch the Leviathan News broadcastCoverage
What Pharos Tracks
The raw monitoring layer — live supply, peg behavior, blacklist activity, liquidity depth, and chain-level flow data pulled from 50+ sources into one operating picture.
11 upcoming stablecoins
Pre-launch projects tracked from announcement to launch, with milestones, timelines, and featured content.
View upcoming88 coins in the Cemetery
Algorithmic failures, rug pulls, regulatory shutdowns, and the quiet abandonments worth remembering.
Open cemeteryBlacklist Tracker
Tracks issuer-intervention events (freeze, unfreeze, pause, block, and wipe) across supported contracts and chains, with chain-specific amount provenance where available.
Open blacklist trackerPeg Tracker
Composite peg scores, depeg event detection, heatmaps, and four years of depeg history on the dedicated tracker.
Open depeg trackerBluechip safety ratings
Independent SMIDGE (Security, Management, Insurance, Decentralization, Governance, Escrow) coverage for rated stablecoins, pulled in as an outside reference signal.
Review sourceDEX liquidity
Pool depth, volume, quality-adjusted TVL, durability, and pair diversity scored 0-100.
Open liquidity trackerChain Analytics
Per-chain stablecoin supply totals, 24h/7d/30d trends, composition breakdowns, and a Chain Health Score across quality, chain environment, concentration, peg stability, and backing diversity.
Open chain leaderboardMint and burn flows
Configured issuance-chain mint and burn monitoring via Alchemy JSON-RPC, including the Bank Run Gauge and flight-to-quality detection.
Open flow trackerPortfolio Audit
Analyze your stablecoin holdings against Pharos safety, liquidity, and peg data to spot concentration risk.
Open routeSignals
What Pharos Computes
The analysis layer — models, scores, and forecasts you cannot find anywhere else: a VIX for stablecoins, dependency-capped safety grades, and forward-looking depeg pressure.
Daily Digest
A daily briefing on stablecoin market conditions covering supply shifts, depeg alerts, and liquidity changes.
Open digestPharos Stability Index (PSI)
A 30-minute ecosystem health score that combines active-depeg severity, market-cap breadth, DEWS stress breadth, and 7-day market-cap trend into a 0-100 signal.
Open stability indexSafety Grades
Composite A+ to F grades built from liquidity, resilience, decentralization, dependency risk, and peg behavior.
Open scorecardsContagion Map
A live dependency graph showing how collateral relationships can transmit stress through the ecosystem.
Open dependency mapSystemic Risk Scoreboard
The highest-impact single-coin failure scenarios (part of Safety Scores), surfaced inside the scorecard stress panel before a crisis makes them obvious.
Open stress panelDepeg Early Warning (DEWS)
A per-coin stress score refreshed every 30 minutes from supply velocity, pool balance drift, liquidity erosion, price confidence, source divergence, blacklist activity, mint and burn flow, and yield anomalies.
Open routeStablecoin Comparison
Side-by-side analysis of any tracked stablecoins across safety, liquidity, peg stability, and yield metrics.
Open routeRisk-Adjusted Yield
Yield opportunities scored against stablecoin safety, benchmark context, source freshness, and APY consistency.
Open routeTelegram alerts cover DEWS state changes, depeg events, and safety grade changes.
Open @PharosWatchBotGovernance lens
Classification
Pharos classifies stablecoins into three governance tiers: CeFi (fully centralized), CeFi-Dependent (decentralized infrastructure but reliant on centralized collateral or peg mechanisms), and DeFi (fully on-chain, no centralized custody dependency). The classification reflects actual infrastructure dependency, not marketing claims.
Source flow
Data Pipeline
All data is fetched server-side by a Cloudflare Worker and cached in D1. The browser never calls external APIs directly.
Source groups
- Supply & Price
- DefiLlama, CoinGecko, GeckoTerminal, CoinMarketCap, DexScreener, Jupiter Price API, Pyth Network, Binance, Kraken, Bitstamp, Coinbase, RedStone, Curve on-chain, Fluid, Balancer, Raydium, Orca, Meteora, PancakeSwap, Aerodrome Slipstream, Velodrome Slipstream, and direct protocol redemption quotes for selected redeemable assets such as Cap cUSD and infiniFi iUSD; CoinGecko also repairs total supply for tracked DefiLlama-backed assets when known deployments are missing from DefiLlama chain coverage
- Reserve Transparency
- Issuer and protocol reserve APIs, dashboards, proof-of-reserve portals, and direct on-chain vault/accounting reads (including live reserve composition feeds from providers such as Anzen, Ethena, Falcon, Frankencoin, Hashnote, infiniFi, M0, Mento Reserve / analytics API, OpenEden, Re, USDD, USD.AI, USD1 Chainlink bundle oracle, Accountable, Tether, Frax, Circle, First Digital Labs, SG-FORGE, Paxos, Sky/MakerDAO, Chainlink PoR/NAV oracles, Aave GHO, f(x), Asymmetry, JupUSD, USDGO, Solstice, River, Alloy, and Curve/Yield Basis reserve reads where available)
- On-chain Reads & Events
- Etherscan v2 (freeze events), TronGrid, Alchemy, dRPC, selected public chain RPCs (including EVM RPCs for configured mint/burn flows, direct Liquity/B.Protocol branch debt reads, and Frankencoin's ZCHF -> VCHF StablecoinBridge balance probe, plus Solana mainnet RPC reads for tracked mint-supply validation), and reconciled freeze-ledger bootstrap rows from kyc.rip / stables.rip for major ETH and TRON blacklist coverage
- Ratings & Reference
- Bluechip, Chainlink Data Feeds, ECB via Frankfurter, Open Exchange Rates (real-time FX cross-validation), fawazahmed0/currency-api (CNH and non-ECB FX), ExchangeRate-API (tertiary full-set FX fallback), gold-api.com, FRED DGS3MO, Treasury.gov yield curve XML fallback, the ECB Data API for 3M compounded €STR, and SIX delayed SARON compound-rate downloads via public guest access
- DEX Data
- DeFiLlama Yields & Protocols, protocol-native yield APIs and deterministic on-chain yield readers (Hashnote, Ondo, Morpho, Pendle, Yearn Kong, Beefy, Aave V3, Compound V3, BIMA Earn, Curve scrvUSD current-rate, B.Protocol LQTY-only), Curve Finance API, The Graph, Fluid API + DexReservesResolver, Balancer API, Raydium API, Orca API, Meteora API, PancakeSwap subgraphs, Aerodrome and Velodrome Sugar view contracts, GeckoTerminal, DexScreener; dead or deprecated DEX slugs such as Bunni are blocked from runtime pricing and liquidity inputs rather than treated as live venues
- AI Generation
- Anthropic Claude (daily digest and Monday weekly recap)
Processing path
Sources
Market, on-chain, ratings, FX, commodity, and digest inputs are collected on a fixed schedule.
Cloudflare Worker + D1
Staggered 5-minute, 15-minute, 30-minute, hourly, multi-hour, daily, and monthly lanes normalize the data and cache the results for the public API.
Static dashboard
Next.js pages on Cloudflare Pages consume the worker outputs and render the stablecoin view without direct third-party calls.
Scoring details
Methodology
Pharos grades every stablecoin across four weighted base dimensions, with peg stability acting as a multiplier on top. The methodology page covers the full grading formula, peg score computation, DEX liquidity scoring, and contagion stress-test design.
Read the full methodologyReach out
Get in Touch
Pharos is MIT-licensed open source. If you spot a bad data point, want a stablecoin added, or want to understand how something is computed, open the code or reach out directly.