Fair Money Supply Index
money2069.org tracks the supply of fiat-pegged versus non-fiat stable money every day, measured on-chain — no self-reported numbers, no press releases. Receipts, not claims: each figure below is a token contract’s supply read directly from Ethereum mainnet.
The USD-pegged bucket — $164.6B
Combined Ethereum-mainnet supply of USDT + USDC + USDS + DAI + USDe + PYUSD + USD1 + USDf + RLUSD + GHO + USD0 + TUSD + GUSD + BOLD + LUSD + USDGLO. Every one of these targets $1, so their supplies are dollar-denominated and adding them up is an honest dollar total. This is the fiat-referencing side of stable money — the incumbent.
Constituents: USDT, USDC, USDS, DAI, USDe, PYUSD, USD1, USDf, RLUSD, GHO, USD0, TUSD, GUSD, BOLD, LUSD, USDGLO — fiat-backed (USDT, USDC) and crypto-collateralized (DAI, USDS, LUSD, BOLD) and delta-hedged synthetic (USDe) issues that all reference the US dollar.
The non-fiat set — units, not dollars
RAI, FPI, OHM and AMPL are stable-money experiments that do not reference the dollar. Each chart below is a supply count in that token’s own units — these are not dollar amounts, and we never sum them into a “total”: adding RAI units to OHM units would be as meaningless as adding meters to kilograms.
This is the category the Fair Money Fund exists for — money whose value is defined by rules, not by a central bank’s liability.
Supply in RAI units — not dollars. ETH-backed with a floating redemption price — RAI has never targeted $1.
Supply in FPI units — not dollars. Tracks a CPI basket instead of the dollar — a flatcoin.
Supply in OHM units — not dollars. Treasury-backed reserve asset, market-priced — not pegged to anything.
Supply in AMPL units — not dollars. Rebasing money: the unit count itself expands and contracts by design.
Methodology
- Measurement:
- ERC-20 total supply, read on-chain
- Scope:
- Ethereum mainnet contracts only
- Cadence:
- Daily snapshot (M69 engine)
- USD bucket:
- USDT, USDC, USDS, DAI, USDe, PYUSD, USD1, USDf, RLUSD, GHO, USD0, TUSD, GUSD, BOLD, LUSD, USDGLO
- Non-fiat set:
- RAI, FPI, OHM, AMPL
- Latest snapshot:
- 2026-07-25
Measured on-chain daily by the M69 engine · Ethereum mainnet supplies only — supply issued on other chains (e.g. USDT on Tron) is out of scope, so USD-bucket totals will read below the issuers’ global figures. Non-fiat supplies are unit counts, never converted to dollars.