Rebasing stablecoin
A stablecoin whose balance changes algorithmically in each holder's wallet to maintain a target price or yield.
Examples: Ampleforth (price-elastic), stETH (yield-rebase), USDS (USDS itself doesn't rebase but sUSDS share-price grows). Rebases create headaches for DeFi integrations — non-rebasing wrappers (wstETH, sUSDS) are the typical work-around.
Related terms
- stETHLido's rebasing liquid-staking token — accrues ETH staking yield via daily balance rebases.
- wstETHA non-rebasing wrapper of Lido stETH — share-price grows with staking yield.
- Algorithmic stablecoinA stablecoin that maintains its peg through programmatic supply expansions and contractions rather than 1:1 reserves.