Digital Dollar Dominance measures how much of the broader dollar system is represented by stablecoins and other pegged assets tracked by the current DDD data stack.

In practice, DDD asks a benchmark question: what share of broad US dollar money is currently represented onchain by the tracked stablecoin market?

The site is designed to be citable by journalists, analysts, builders, and policy readers. It is a market-context benchmark, not a discretionary score.

Digital Dollar Dominance equals stablecoin supply divided by the selected dollar base, expressed as a percentage.

The site also presents the same result as a 1 in X dollars framing. That figure is the nearest whole-number interpretation of the DDD percentage, so a DDD reading of roughly 1.41% is displayed as roughly 1 in 71 dollars.

The current site uses two primary benchmark inputs:

The DDD endpoint computes the benchmark from these two sources directly. The site also exposes currency, issuer, and chain structure through repo-backed endpoints: /api/currencies-supply for the on-chain fiat mix, /api/issuers for issuer share, and /api/chains for chain distribution.

The numerator is sourced from DeFi Llama's pegged-asset dataset. That dataset is overwhelmingly USD stablecoins, but it can include a small amount of non-USD-pegged supply. That means DDD is best understood as a benchmark for the tracked stablecoin and pegged-asset market relative to broad US dollar money.

The current site fetches live DDD values from /api/ddd. That endpoint is cached for approximately five minutes on the published site, with stale-while-revalidate behavior, so the benchmark is updated frequently without requiring every page load to recompute upstream data.

Stablecoin supply moves near real-time upstream. US M2 does not. The M2 denominator updates only when the Federal Reserve publishes a new monthly M2SL observation. Between releases, DDD continues to update against the latest available M2 value.

Issuer dominance on DDD is calculated from the issuer market-structure dataset exposed through /api/issuers. Each issuer's share is its tracked stablecoin supply divided by the total tracked supply in that issuer dataset.

In other words, issuer share answers a structure question: how much of the tracked stablecoin market is controlled by a given issuer right now?

Chain-level stablecoin distribution is calculated from the chain dataset exposed through /api/chains. The current endpoint aggregates chain-level stablecoin supply from DeFi Llama's chain-circulating data and sums that supply across tracked assets.

Each chain's distribution share is therefore its tracked stablecoin supply divided by total tracked chain-level supply. This is a supply-distribution measure, not a transaction-activity or payment-utility measure.

Tether Circle Dominance (TCD) is the combined market share of the two largest stablecoin issuers in the current DDD issuer stack: Tether and Circle.

Practically, TCD is calculated as the sum of Tether share and Circle share from the issuer-share dataset. It is a compact way to express how much of the market is controlled by the two dominant issuers together.

DDD already includes issuer concentration metrics in the project's oracle and intelligence layer. The primary concentration score is issuer HHI, the Herfindahl-Hirschman Index.

Using issuer shares expressed in percent, the project defines issuer HHI as:

Higher HHI means a more concentrated issuer market. The project also derives an effective issuer count from HHI using 10,000 / HHI, which gives a more intuitive sense of how many equally sized issuers the market currently resembles.

• DDD is a benchmark and market-context layer. It is not financial advice.
• DDD is not a risk rating, solvency rating, backing audit, or endorsement of any issuer, chain, token, or product.
• DDD does not provide a complete view of payment utility, transaction quality, or real-world usage by itself.
• The numerator and denominator update on different cadences. Stablecoin supply can change far faster than M2, so the ratio is structurally timelier on the numerator side than on the denominator side.
• The stablecoin numerator depends on third-party upstream data and classifications. Delays, omissions, and methodology changes at the source level can affect the benchmark.
• The numerator is derived from DeFi Llama's pegged-asset dataset, so a small amount of non-USD-pegged supply can enter the tracked total.
• Changes in DDD can come from stablecoin growth, changes in US M2, or both.

DDD provides market context. Are You Stable turns that context into user level decisions.

That is the intended division of labor: DDD publishes the benchmark and the market structure around it; Are You Stable uses that context to help people and businesses decide whether stablecoins are useful for a specific situation.

Stablecoin

A cryptocurrency designed to maintain a stable value, usually by being pegged one-to-one to a fiat currency such as the US dollar.

Pegged asset

Any digital token whose value is tied to an external reference, such as a national currency, commodity, or basket of assets.

Market cap

The total value of all units of an asset in circulation, calculated as supply multiplied by the current price per unit.

M2 money supply

A broad measure of money that includes cash, checking deposits, savings deposits, and small time deposits, published monthly by the Federal Reserve.

M1 money supply

A narrow measure of money that includes only physical currency in circulation plus demand deposits and other instantly spendable balances.

Mint

The creation of new stablecoin units, increasing the total supply in circulation.

Burn

The permanent removal of stablecoin units from circulation, reducing the total supply.

On-chain

Activity recorded directly on a public blockchain, where it can be independently verified by anyone.