HUMA vs USDM
Huma and MegaUSD, compared on the things that decide whether you get your dollar back. Live data, updated continuously.
30-day peg gap and HUMA/USDM spread
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Huma issues dollar-denominated tokenized real-world assets across 4 chains. Value shown is on-chain assets under management.
Verdict band: Adequate
MegaUSD is a dollar-denominated token tracked across 2 chains. No verified issuer disclosure is on file, so its collateral and legal structure score conservatively.
Verdict band: Adequate
| Safety scoreComposite of collateral, peg, liquidity, issuer and track record. | ●●●●●5 of 5 | 64 | 67 | USDM |
|---|---|---|---|---|
| Collateral qualityWhat actually backs the token, and how liquid that backing is. | ●●●●●5 of 5 | 55 | 55 | Tie |
| Exit liquidityWhether you can leave at size without moving the price. | ●●●●●5 of 5 | $0.00 | $18.61M | USDM |
| Issuer & legal standingRegulatory perimeter, disclosure quality and redemption rights. | ●●●●4 of 5 | 48 | 48 | Tie |
| Peg tightness (live)Absolute distance from $1.00 right now — smaller is better. | ●●●●4 of 5 | 0.000% | 0.000% | Tie |
| Worst recorded depegHow badly the token has broken before, as a stress precedent. | ●●●●4 of 5 | None recorded | None recorded | Tie |
| Track recordYears live and behaviour through past stress events. | ●●●●4 of 5 | 53 | 53 | Tie |
| Scale / market capBigger float usually means broader venue support and tighter spreads. | ●●●3 of 5 | $414.07M | $16.80M | HUMA |
| Chain reachNumber of networks where the token is natively deployed. | ●●●3 of 5 | 4 chains | 2 chains | HUMA |
| Best available yieldUpside — but every extra point above T-bills is paid for with risk. | ●●2 of 5 | None | 14.90% | USDM |
"Matters" is our weighting of how much each dimension typically drives a real allocation decision. Sort any column to re-rank the tradeoffs by what matters to you.
The short answer
USDM scores higher on safety (67 vs 64), driven mainly by collateral quality and disclosure. USDM has deeper tracked liquidity ($18.61M), which is what determines whether you can exit at size. USDM currently earns up to 14.90% — remember that any rate above the T-bill yield is payment for a risk.
If both are fiat-reserve tokens, note that holding both is not diversification: they share the same short-dated Treasury and banking exposure. Genuine diversification means mixing collateral structures.
Which one fits your goal: HUMA or USDM?
Capital preservation over everything else.
For park cash safely, USDM edges out HUMA — but it is close enough that either works.
- Safety score 67 vs 64, with collateral rated 55/100.
- Current peg deviation 0.000% against 0.000% for HUMA.
- No material depeg recorded for USDM in our incident log.
Concentrating in one issuer is a single point of failure regardless of score. Split across collateral structures.
Key risks, side by side
HUMA
- Issuer and banking risk: reserves sit with Huma under Not documented rules.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Attestation cadence: monthly.
USDM
- Collateral volatility: a fast drawdown in backing assets can force liquidations.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Limited public attestation of reserves.
- Yield venue risk: 14.90% is earned outside the token itself.
- Chain concentration: 100% of supply sits on MegaETH.
| Metric | HUMA | USDM |
|---|---|---|
| Category | Tokenized Treasury | Stablecoin |
| Issuer | Huma | Undisclosed |
| Jurisdiction | Not documented | Not documented |
| Collateral | treasuries | crypto-backed |
| Peg mechanism | asset-backed | crypto-backed |
| Attestation | monthly | none |
| Redemption | gated | market-only |
| Price | $1.0000 | $1.0000 |
| Peg deviation | 0.000% | 0.000% |
| Market cap | $414.07M | $16.80M |
| 7d supply change | +11.31% | −3.49% |
| Liquidity | $0.00 | $18.61M |
| Best yield | None | 14.90% (liqwid · Cardano) |
| Chains | 4 | 2 |
| Launched | — | — |
| Worst recorded depeg | None recorded | None recorded |
Spread, peg gap and switching cost
- Price spread (HUMA vs USDM)
- +0.0 bps
- $1.0000 vs $1.0000
- Peg deviation gap
- 0.000 pp
- HUMA 0.000% · USDM 0.000%
- Yield spread
- -14.90%
- HUMA — · USDM 14.90%
- Liquidity ratio
- 0.00×
- $0.00 vs $18.61M
A round trip between HUMA and USDM costs roughly the market spread plus venue fees. At 0.0 bps of price gap, swapping $1M implies about $0.00 of price impact before fees — usually only worth it if the peg gap or yield spread is durable, not intraday noise.
Chain coverage
HUMA is live on 4 chains, USDM on 2. 1 chains carry both, so bridging is only unavoidable for the 4 networks where just one of them is deployed.
| Chain | HUMA | USDM | Both available |
|---|---|---|---|
| $259.14M | — | HUMA only | |
| $150.11M | $31.4K | Yes | |
| — | $16.76M | USDM only | |
| $2.73M | — | HUMA only | |
| $2.09M | — | HUMA only |
HUMA vs USDM: frequently asked questions
Is HUMA or USDM safer?
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On our composite safety score USDM rates 67/100 versus 64/100 for HUMA. The score weighs collateral quality (crypto-backed vs treasuries), redemption rights, attestation quality, peg history and liquidity depth. A higher score is not a guarantee: both remain issuer-credit and smart-contract exposures, not insured bank deposits.
What is the difference between HUMA and USDM?
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Huma is issued by Huma (Not documented), backed by treasuries, with redemption terms: gated. MegaUSD is issued by Undisclosed (Not documented), backed by crypto-backed, with redemption terms: market-only. Attestation coverage is "monthly" for HUMA and "none" for USDM.
Which has the bigger market cap, HUMA or USDM?
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HUMA is larger at $414.07M in circulating supply, against $16.80M for the other. Over the last 7 days supply moved +11.31% for HUMA and −3.49% for USDM.
Are HUMA and USDM trading at $1.00 right now?
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HUMA trades at $1.0000 (0.000% off peg) and USDM at $1.0000 (0.000% off peg). The gap between the two is about 0.0 basis points, which is the cost you pay when rotating size between them before fees.
Has HUMA or USDM ever depegged?
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HUMA: no material depeg recorded in our incident set. USDM: no material depeg recorded in our incident set. Past peg behaviour under stress is the single best available proxy for how a token trades in the next crisis.
Which is better for large institutional size, HUMA or USDM?
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For block size the constraint is exit liquidity and primary redemption, not headline supply. USDM shows deeper on-chain liquidity at $18.61M versus $0.00. Combine that with the redemption channel — HUMA: gated; USDM: market-only — and size trades against the primary window rather than the order book where possible.
Can I earn yield on HUMA or USDM?
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USDM currently shows the higher rate at 14.90% via liqwid · Cardano, against no tracked rate for HUMA. Neither token pays interest by holding it in a wallet: the yield comes from lending, liquidity provision or a wrapped yield-bearing version, each with its own counterparty and contract risk.
Which chains support both HUMA and USDM?
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Both are deployed on 1 shared network, including Ethereum. HUMA spans 4 chains in total and USDM spans 2. Bridged supply on a chain is not the same as natively issued supply, and it usually carries the bridge's risk rather than the issuer's.
What does it cost to switch from HUMA to USDM?
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Budget three components: the current price spread of roughly 0.0 bps, swap or venue fees, and slippage against available depth ($0.00 for HUMA, $18.61M for USDM). For meaningful size, redeeming with the issuer and minting the other side is often cheaper than a secondary-market swap.
Is HUMA or USDM regulated?
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HUMA is issued from Not documented with monthly; USDM is issued from Not documented with none. Regulatory status varies by your own jurisdiction and by whether the token is offered under a specific stablecoin regime, so treat this as a starting point for diligence, not legal advice.