R vs USD1
R and World Liberty Financial USD, compared on the things that decide whether you get your dollar back. Live data, updated continuously.
30-day peg gap and R/USD1 spread
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R 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
Treasury-backed dollar token with custody at a regulated US institution. Young track record and concentrated holder base.
Verdict band: Adequate
| Safety scoreComposite of collateral, peg, liquidity, issuer and track record. | ●●●●●5 of 5 | 73 | 79 | USD1 |
|---|---|---|---|---|
| Collateral qualityWhat actually backs the token, and how liquid that backing is. | ●●●●●5 of 5 | 55 | 95 | USD1 |
| Exit liquidityWhether you can leave at size without moving the price. | ●●●●●5 of 5 | $2.79B | $265.49M | R |
| Issuer & legal standingRegulatory perimeter, disclosure quality and redemption rights. | ●●●●4 of 5 | 48 | 54 | USD1 |
| Peg tightness (live)Absolute distance from $1.00 right now — smaller is better. | ●●●●4 of 5 | −0.025% | −0.075% | R |
| 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 | $10.72M | $4.01B | USD1 |
| Chain reachNumber of networks where the token is natively deployed. | ●●●3 of 5 | 2 chains | 8 chains | USD1 |
| Best available yieldUpside — but every extra point above T-bills is paid for with risk. | ●●2 of 5 | None | 8.74% | USD1 |
"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
USD1 scores higher on safety (79 vs 73), driven mainly by collateral quality and disclosure. R has deeper tracked liquidity ($2.79B), which is what determines whether you can exit at size. USD1 currently earns up to 8.74% — 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: R or USD1?
Capital preservation over everything else.
For park cash safely, USD1 is the better fit over R.
- Safety score 79 vs 73, with collateral rated 95/100.
- Current peg deviation -0.075% against -0.025% for R.
- No material depeg recorded for USD1 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
R
- 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.
- Chain concentration: 99% of supply sits on Ethereum.
USD1
- Issuer and banking risk: reserves sit with World Liberty Financial under United States rules.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Attestation cadence: monthly.
- Yield venue risk: 8.74% is earned outside the token itself.
| Metric | R | USD1 |
|---|---|---|
| Category | Stablecoin | Stablecoin |
| Issuer | Undisclosed | World Liberty Financial |
| Jurisdiction | Not documented | United States |
| Collateral | crypto-backed | treasuries |
| Peg mechanism | crypto-backed | fiat-backed |
| Attestation | none | monthly |
| Redemption | market-only | gated |
| Price | $0.9998 | $0.9993 |
| Peg deviation | −0.025% | −0.075% |
| Market cap | $10.72M | $4.01B |
| 7d supply change | 0.00% | −0.41% |
| Liquidity | $2.79B | $265.49M |
| Best yield | None | 8.74% (dolomite · Ethereum) |
| Chains | 2 | 8 |
| Launched | — | 2025 |
| Worst recorded depeg | None recorded | None recorded |
Spread, peg gap and switching cost
- Price spread (R vs USD1)
- +5.0 bps
- $0.9998 vs $0.9993
- Peg deviation gap
- -0.050 pp
- R −0.025% · USD1 −0.075%
- Yield spread
- -8.74%
- R — · USD1 8.74%
- Liquidity ratio
- 10.51×
- $2.79B vs $265.49M
A round trip between R and USD1 costs roughly the market spread plus venue fees. At 5.0 bps of price gap, swapping $1M implies about $499.36 of price impact before fees — usually only worth it if the peg gap or yield spread is durable, not intraday noise.
Historical context
Track record is the part of a stablecoin you cannot model — it has to be observed. Here is how R and USD1 have actually behaved since launch, including every stress event we have on record.
- USD1
World Liberty Financial USD goes live.
Chain coverage
R is live on 2 chains, USD1 on 8. 1 chains carry both, so bridging is only unavoidable for the 8 networks where just one of them is deployed.
| Chain | R | USD1 | Both available |
|---|---|---|---|
| $10.66M | $1.52B | Yes | |
| — | $1.40B | USD1 only | |
| — | $1.05B | USD1 only | |
| — | $18.51M | USD1 only | |
| — | $16.06M | USD1 only | |
| — | $10.06M | USD1 only | |
| — | $81.3K | USD1 only | |
| $59.4K | — | R only | |
| — | $1.2K | USD1 only |
R vs USD1: frequently asked questions
Is R or USD1 safer?
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On our composite safety score USD1 rates 79/100 versus 73/100 for R. The score weighs collateral quality (treasuries vs crypto-backed), 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 R and USD1?
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R is issued by Undisclosed (Not documented), backed by crypto-backed, with redemption terms: market-only. World Liberty Financial USD is issued by World Liberty Financial (United States), backed by treasuries, with redemption terms: gated. Attestation coverage is "none" for R and "monthly" for USD1.
Which has the bigger market cap, R or USD1?
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USD1 is larger at $4.01B in circulating supply, against $10.72M for the other. Over the last 7 days supply moved 0.00% for R and −0.41% for USD1.
Are R and USD1 trading at $1.00 right now?
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R trades at $0.9998 (−0.025% off peg) and USD1 at $0.9993 (−0.075% off peg). The gap between the two is about 5.0 basis points, which is the cost you pay when rotating size between them before fees.
Has R or USD1 ever depegged?
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R: no material depeg recorded in our incident set. USD1: 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, R or USD1?
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For block size the constraint is exit liquidity and primary redemption, not headline supply. R shows deeper on-chain liquidity at $2.79B versus $265.49M. Combine that with the redemption channel — R: market-only; USD1: gated — and size trades against the primary window rather than the order book where possible.
Can I earn yield on R or USD1?
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USD1 currently shows the higher rate at 8.74% via dolomite · Ethereum, against no tracked rate for R. 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 R and USD1?
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Both are deployed on 1 shared network, including Ethereum. R spans 2 chains in total and USD1 spans 8. 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 R to USD1?
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Budget three components: the current price spread of roughly 5.0 bps, swap or venue fees, and slippage against available depth ($2.79B for R, $265.49M for USD1). For meaningful size, redeeming with the issuer and minting the other side is often cheaper than a secondary-market swap.
Is R or USD1 regulated?
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R is issued from Not documented with none; USD1 is issued from United States with monthly. 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.