USDB
The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.
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About USDB
Analysis of 13 Feb 2026USDB is the native auto-rebasing stablecoin of Blast L2, maintaining 85.58% stablecoin market share on the network with approximately 410 million tokens in circulation. As of February 2026, Blast network shows signs of recovery with bridged TVL rebounding to $339.5 million (up from December 2025 low of $55 million), though still significantly below its June 2024 peak of $2.2 billion.
Full overviewShow less
USDB generates yield through MakerDAO/Sky's on-chain T-Bill protocol, with Blast Mobile's Earn app now offering tiered yields: 79.3% APY for BLAST token holders (requiring BLAST balance equal to 30% of USDB deposits for maximum 6x multiplier), 13.2% enhanced APY, and 4.75% standard APY. The base yield aligns with Sky Savings Rate (4.5%) and DAI Savings Rate (5%), with enhanced yields paid in volatile BLAST tokens distributed every 6 hours.
Users bridge USDC, USDT, or DAI to receive USDB, which rebases automatically for EOAs while smart contracts can opt-out. Blast Mobile's app store expansion to third-party developers in 2026 aims to boost ecosystem activity versus competitors like Base and Arbitrum.