---
title: "swanUSD (swanUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/swanusd-swan/"
description: "Build-time stablecoin profile for swanUSD (swanUSD)."
---



# swanUSD (swanUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** Decentralized (DeFi)

**Status:** pre-launch

## Collateral

wstETH deposited in swanUSD's Monolith Lender (0x4ed5c72816abc1b67ac31ddabe31cff4a8c56a15), which held 44.10 wstETH at Ethereum block 26268775 on October 25 2026 against 213,731.85 swanUSD supply. The issuer site also describes 1:1 swaps with sUSDS; that module and the gap between supply and Lender debt are not yet reconciled.

## Peg Mechanism

Monolith CDP instance: borrowers mint swanUSD against wstETH at 0% or a variable rate under Monolith's dual free and paid debt system, the issuer site says swanUSD is redeemable for wstETH, and stakers deposit it in the sSwanUSD ERC-4626 vault to earn borrower interest.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x9bf2b2f57a2968a0e81546ed50cbbbb7c9d6e05e` | 18 |

## Live Data

This stablecoin has launched, but Pharos has not yet admitted a price and supply source. Missing lane: price. No CoinGecko or DefiLlama stablecoin listing exists, and DefiLlama's contract quote was about two hours old on October 25 2026, outside the 15-minute freshness budget. Supply is readable on-chain. Live API data is unavailable, not zero, until both can be verified.