---
title: "USDB Blast (USDB) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdb-blast/"
description: "Build-time stablecoin profile for USDB Blast (USDB). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# USDB Blast (USDB)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

USDB's reserve is quality stablecoin collateral routed through MakerDAO DSR, but supply is bleeding on a chain the market stopped caring about post-airdrop. USDB's reserve is better than its reputation: 60% DAI/sDAI earning Maker's DSR yield, 25% USDC, 15% USDT — quality stablecoin collateral that can support a boring, functional dollar token. Instead, 1,346 depeg events and a worst deviation of -1030 bps tell the story of a rebasing stablecoin on a chain the market stopped caring about after the airdrop ended. Supply continues its slow bleed to $23.5M, down from $24.3M last month, while 1.3% APY from governance-set yield barely registers against a backdrop where money market rates are multiples higher. The C- safety grade at 53 is dragged down by Blast-only deployment with no {{term:redemption}}redemption{{/term}} backstop and fallback-class DEX coverage, even though the underlying collateral would score well in any other wrapper. USDB is a technically competent product stranded on an island of diminishing relevance.

## Collateral

USDC and USDT bridged to Blast L2; yield from Maker DSR and T-bills

## Peg Mechanism

Automatic rebasing with yield from underlying centralized stablecoin strategies

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| blast | `0x4300000000000000000000000000000000000003` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdb-blast.