U vs USDF
United Stables and Falcon USD, compared on the things that decide whether you get your dollar back. Live data, updated continuously.
30-day peg gap and U/USDF spread
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United Stables is a dollar-denominated token tracked across 3 chains. No verified issuer disclosure is on file, so its collateral and legal structure score conservatively.
Verdict band: Adequate
Overcollateralised synthetic dollar accepting a broad basket of crypto and tokenised assets as collateral.
Verdict band: Caution
| Safety scoreComposite of collateral, peg, liquidity, issuer and track record. | ●●●●●5 of 5 | 73 | 59 | U |
|---|---|---|---|---|
| Collateral qualityWhat actually backs the token, and how liquid that backing is. | ●●●●●5 of 5 | 55 | 65 | USDF |
| Exit liquidityWhether you can leave at size without moving the price. | ●●●●●5 of 5 | $39.47B | $84.37M | U |
| Issuer & legal standingRegulatory perimeter, disclosure quality and redemption rights. | ●●●●4 of 5 | 48 | 54 | USDF |
| Peg tightness (live)Absolute distance from $1.00 right now — smaller is better. | ●●●●4 of 5 | −0.053% | −0.394% | U |
| 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 | $1.26B | $1.17B | U |
| Chain reachNumber of networks where the token is natively deployed. | ●●●3 of 5 | 3 chains | 2 chains | U |
| Best available yieldUpside — but every extra point above T-bills is paid for with risk. | ●●2 of 5 | 8.00% | 0.00% | U |
"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
U scores higher on safety (73 vs 59), driven mainly by peg stability and track record. U has deeper tracked liquidity ($39.47B), which is what determines whether you can exit at size. U currently earns up to 8.00% — 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: U or USDF?
Capital preservation over everything else.
For park cash safely, U is the better fit over USDF.
- Safety score 73 vs 59, with collateral rated 55/100.
- Current peg deviation -0.053% against -0.394% for USDF.
- No material depeg recorded for U 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
U
- 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: 8.00% is earned outside the token itself.
- Chain concentration: 81% of supply sits on BSC.
USDF
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Attestation cadence: monthly.
- Yield venue risk: 0.00% is earned outside the token itself.
- Chain concentration: 90% of supply sits on Ethereum.
| Metric | U | USDF |
|---|---|---|
| Category | Stablecoin | Stablecoin |
| Issuer | Undisclosed | Falcon Finance |
| Jurisdiction | Not documented | Offshore |
| Collateral | crypto-backed | mixed |
| Peg mechanism | crypto-backed | crypto-backed |
| Attestation | none | monthly |
| Redemption | market-only | gated |
| Price | $0.9995 | $0.9961 |
| Peg deviation | −0.053% | −0.394% |
| Market cap | $1.26B | $1.17B |
| 7d supply change | +3.64% | +0.03% |
| Liquidity | $39.47B | $84.37M |
| Best yield | 8.00% (bitway-earn · BSC) | 0.00% (more-markets · Flow) |
| Chains | 3 | 2 |
| Launched | — | 2025 |
| Worst recorded depeg | None recorded | None recorded |
Spread, peg gap and switching cost
- Price spread (U vs USDF)
- +34.3 bps
- $0.9995 vs $0.9961
- Peg deviation gap
- -0.341 pp
- U −0.053% · USDF −0.394%
- Yield spread
- +8.00%
- U 8.00% · USDF 0.00%
- Liquidity ratio
- 467.79×
- $39.47B vs $84.37M
A round trip between U and USDF costs roughly the market spread plus venue fees. At 34.3 bps of price gap, swapping $1M implies about $3.4K 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 U and USDF have actually behaved since launch, including every stress event we have on record.
- USDF
Falcon USD goes live.
Chain coverage
U is live on 3 chains, USDF on 2. 2 chains carry both, so bridging is only unavoidable for the 1 networks where just one of them is deployed.
| Chain | U | USDF | Both available |
|---|---|---|---|
| $181.50M | $1.06B | Yes | |
| $1.02B | $114.01M | Yes | |
| $54.97M | — | U only |
U vs USDF: frequently asked questions
Is U or USDF safer?
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On our composite safety score U rates 73/100 versus 59/100 for USDF. The score weighs collateral quality (crypto-backed vs mixed), 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 U and USDF?
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United Stables is issued by Undisclosed (Not documented), backed by crypto-backed, with redemption terms: market-only. Falcon USD is issued by Falcon Finance (Offshore), backed by mixed, with redemption terms: gated. Attestation coverage is "none" for U and "monthly" for USDF.
Which has the bigger market cap, U or USDF?
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U is larger at $1.26B in circulating supply, against $1.17B for the other. Over the last 7 days supply moved +3.64% for U and +0.03% for USDF.
Are U and USDF trading at $1.00 right now?
+
U trades at $0.9995 (−0.053% off peg) and USDF at $0.9961 (−0.394% off peg). The gap between the two is about 34.3 basis points, which is the cost you pay when rotating size between them before fees.
Has U or USDF ever depegged?
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U: no material depeg recorded in our incident set. USDF: 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, U or USDF?
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For block size the constraint is exit liquidity and primary redemption, not headline supply. U shows deeper on-chain liquidity at $39.47B versus $84.37M. Combine that with the redemption channel — U: market-only; USDF: gated — and size trades against the primary window rather than the order book where possible.
Can I earn yield on U or USDF?
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U currently shows the higher rate at 8.00% via bitway-earn · BSC, against 0.00% via more-markets · Flow for USDF. 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 U and USDF?
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Both are deployed on 2 shared networks, including BSC, Ethereum. U spans 3 chains in total and USDF 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 U to USDF?
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Budget three components: the current price spread of roughly 34.3 bps, swap or venue fees, and slippage against available depth ($39.47B for U, $84.37M for USDF). For meaningful size, redeeming with the issuer and minting the other side is often cheaper than a secondary-market swap.
Is U or USDF regulated?
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U is issued from Not documented with none; USDF is issued from Offshore 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.