DeFi · Category ranking
Best Stablecoin Wrappers in 2026
9 Stablecoin Wrappers ranked by DappsAtlas score and total value locked. Open any row for the full review.
- Listed
- 9
- Reviewed
- 9
- Page
- 1/1
Stablecoin wrappers are tokens that sit on top of a stablecoin and add a function, usually a way to earn yield while still holding a dollar-pegged asset. You deposit a stablecoin into a smart contract and receive a wrapped token in return. Redeeming that token gets you the original stablecoin back, plus any yield that has built up.
These dApps work by routing deposits into a savings mechanism or yield source and reflecting the gains in the wrapper's value. sDAI is a clear example: it is a yield-bearing Savings DAI token that passes the MakerDAO savings rate on to holders. The protocol's income comes from the underlying system, such as borrowing demand behind DAI, and the holder receives a share through the token. Some wrappers also charge fees, so check how each one is funded.
When comparing wrappers, look at where the yield comes from and how stable that source is, the track record of the underlying stablecoin, and the audits and age of the contracts. Also compare the chain it runs on, how easy it is to redeem, and how much liquidity is available if you want to exit. At the moment our list has one entry, sDAI on Gnosis Chain, with about $38.0M in TVL at the time of writing. Yields are variable and not guaranteed, and this is general information rather than financial advice.
Stablecoin Wrappers at a glance
- Tracked
- 9
- Reviewed
- 9
- Total TVL
- $38.6M
- Avg. score
- 6.0/10
Largest by TVL
- 1
sDAI$37.8M
- 2
USX.Capital$464K
- 3
Metastable$325K
- 4
StakeSteak$21.4K
Highest rated
- 1
- 2Syrup Usdg5.5
| Chains | |||||
|---|---|---|---|---|---|
| 1 | sDAIReviewed | xDai | $37.8M | −2.3% | 6.5 |
| 2 | Syrup UsdgReviewed | Ethereum, Robinhood Chain | — | — | 5.5 |
| 3 | USX.CapitalReviewed | Scroll | $464K | −39.3% | — |
| 4 | MetastableReviewed | Sui | $325K | −2.7% | — |
| 5 | StakeSteakReviewed | Fantom | $21.4K | −1.3% | — |
| 6 | Oceans FinanceReviewed | — | — | — | — |
| 7 | SusdaiReviewed | Arbitrum | — | — | — |
| 8 | MstableReviewed | Ethereum | — | — | — |
| 9 | WbtcReviewed | Ethereum | — | — | — |
Ranked by DappsAtlas score, then total value locked. Click a column to re-sort this page. TVL data via DefiLlama.
Where they run
Stablecoin Wrappers by chain
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Frequently asked questions
What is a stablecoin wrapper?
A stablecoin wrapper is a token that holds a stablecoin inside a smart contract and represents it in a different form. The wrapped token usually adds a feature, most often yield. You can swap back to the original stablecoin by redeeming the wrapper.
What is sDAI?
sDAI is a yield-bearing version of Savings DAI that passes the MakerDAO savings rate to holders. On our site it is listed on Gnosis Chain. Holders earn through the token's value rising against DAI, rather than through a separate reward payout.
Where does sDAI yield come from?
The yield comes from the savings rate set by MakerDAO governance, not from a fixed promise. That rate can change, so the return is variable. Check the current rate before depositing and expect it to move over time.
Is a stablecoin wrapper risk-free?
No. A wrapper adds smart contract risk, and the underlying stablecoin can also lose its peg. Governance decisions can change the rate, and bridges or a specific chain add further exposure. Only use money you can afford to put at risk.
How much value is locked in sDAI?
On our list, sDAI shows about $38.0M in TVL at the time of writing, on Gnosis Chain. TVL changes daily, so treat it as a rough size indicator and not a safety guarantee.
Is a stablecoin wrapper the same as lending?
Not exactly. Both can be ways to earn on stablecoins, but a wrapper like sDAI turns the deposit into a token you can hold or use elsewhere. A lending market usually tracks your deposit in its own system and pays a rate set by borrowing demand.
What is the largest stablecoin wrapper by TVL?
sDAI is the largest stablecoin wrapper by total value locked, with $37.8M. It is followed by USX.Capital ($464K) and Metastable ($325K). TVL figures come from DefiLlama and change daily.
Which stablecoin wrapper has the highest DappsAtlas score?
sDAI has the highest score at 6.5/10, ahead of Syrup Usdg (5.5). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.
How many stablecoin wrappers does DappsAtlas track?
DappsAtlas tracks 9 stablecoin wrappers. Of these, 9 have a full review and 4 report value locked, $38.6M in total.
What chains do most stablecoin wrappers run on?
Ethereum is the most common, with 3 of 9 stablecoin wrappers, followed by xDai (1) and Robinhood Chain (1). 13% are deployed on more than one chain.
Which stablecoin wrappers grew the most this week?
Among stablecoin wrappers with at least $1M locked, . Combined TVL moved −3.0% over the same seven days.