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CRYPTO MARKET / ASSET

Ethena USDe (USDE)


CRYPTO MARKET / ASSET
Ethena USDe (USDE)
Ethena USDe  USDE
$0.9998
0.03%  +$0.00034    LOW: $0.9994  /  HIGH: $1.00  (24H)
0.03%  +$0.00034
LOW: $0.9994  /  HIGH: $1.00  (24H)
Ethena USDe (USDE) Stats / Specs
FULL MARKET CAP
$4.75 B
TOTAL VOLUME 24H ($)
$26.9 M
CIRCULATING SUPPLY
4,754,873,237
TOTAL CURRENT SUPPLY
4,754,873,237
USDE / USD Conversion
swap_horiz
Overview

Ethena USDe (USDE) is a synthetic dollar on Ethereum, backed by staked ETH and designed for stability through delta hedging. It supports the yield-generating 'Internet Bond' and is developed by Ethena Labs.

  • Rough last 24hrs for everyone involved. Firstly want to call out the response from @benbybit and the team. Don't think I've ever seen a team handle crisis communications as well as they did. Stood up to face the music immediately to provide transparent answers to the community. An example for us all to look up to. Ethena handled the largest single day of redemptions and unwound all unrealised exposure to Bybit within an hour of the news breaking. In any event, the unrealised exposure at its peak was always a fraction of the excess reserves behind USDe. At no point was USDe undercollateralised despite Bybit representing >20% of the hedging exposure as the second largest derivative exchange in the world. Even if the unrealised exposure to Bybit had not been reduced to zero within the hour, this exposure could have been lost entirely and USDe would have still been overcollateralised. We hope this event validates some of the design decisions that were made to reduce risk for our users using OES custody solutions. The easy design route was to avoid the costs and the added engineering complexity of custodians within our offchain hedging systems. But we don't make decisions because they are easy, we make decisions we think are right for our users in the long run. It is not good enough to listen to me speak about how we mitigate for these risks in theory, often you need to see it play out in real time with your own eyes to have confidence it actually works at scale. While in the short term this has been painful for many parties involved, I hope we have continued to build confidence and trust from our users on the go forward resilience of the model even in the face of extreme pressure. An event like this was often cited as the single biggest risk to USDe, and we have experienced zero loss to the backing or issues with regards to redemption requests. We are in the process of providing a full write-up on the event to help answer any open questions which we will share via the @ethena_labs account shortly.
    @leptokurtic_ February 22, 2025
  • We are aware of the @Bybit_Official incident and want to reassure our clients that their collateral is whole and protected. Our ClearLoop network ensures all collateral is fully protected in a secure off-exchange environment with MPC-enabled security. ByBit has indeed settled client PnL in accordance with the latest settlement cycle. We’re liaising closely with ByBit and receiving regular updates. We will share relevant updates here.
    @CopperHQ February 21, 2025
  • Replying to @ethena_labs:
    @ethena_labs February 21, 2025
Key Resources
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# Exchange Open (24H) Volume (24H) Range (24H) Flow Price Change (24H)
1 bybit Bybit
USDT, USDC
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# Exchange Open (24H) Volume (24H) Range (24H) Flow Price Change (24H)
2 BitMart BitMart
USDT
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access_time
access_time
5 bybit Bybit
USDT, USDC
access_time access_time access_time
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access_time
access_time
7 Gateio Gate.io
TRY, USDT
access_time access_time access_time
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access_time
access_time
8 Kucoin KuCoin
USDT
access_time access_time access_time
access_time access_time
access_time
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9 mexc MEXC Global
USDT
access_time access_time access_time
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10 Poloniex Poloniex
USDT
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# Wallet Security Anonymity Validation User Friendly Functionality / Platforms Key Assets Rating
1 Ledger Nano X Ledger Nano X PERSONAL HIGH CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • HIERARCHICAL DETERMINISTIC
  • OPEN SOURCE
  • HARDWARE
  • WINDOWS
  • MAC OS
  • LINUX
  • ANDROID
BTCETHXRPBCHEOSXLMLTCUSDTTRX
2 Trezor Wallet Trezor Wallet PERSONAL HIGH FULL NODE check
  • OPEN SOURCE
  • 2 FACTOR AUTHENTICATION
  • HARDWARE
  • WINDOWS
  • LINUX
  • MAC OS
  • ANDROID
BTCLTCNMCDOGEDASHBCHZECETHETCERC20
3 Enjin Wallet Enjin Wallet PERSONAL HIGH CENTRALIZED check
  • HIERARCHICAL DETERMINISTIC
  • ANDROID
  • IOS
ETHENJERC20BTCLTCBNB
4 Edge Edge PERSONAL HIGH SPV check
  • HIERARCHICAL DETERMINISTIC
  • OPEN SOURCE
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • IOS
BTCETHLTCXMRXRPBCHDASHREPWINGS
5 Waves Wallet Waves Wallet PERSONAL LOW SPV check
  • HIERARCHICAL DETERMINISTIC
  • OPEN SOURCE
  • CHROME EXTENSION
  • WINDOWS
  • MAC OS
  • LINUX
  • ANDROID
  • IOS
WAVESBTCETHLTCBCHBSVDASHXMRZECWEST
6 Blockchain Wallet Blockchain Wallet THIRD PARTY ENCRYPTED LOW CENTRALIZED check
  • MULTI-SIGNATURE
  • OPEN SOURCE
  • HIERARCHICAL DETERMINISTIC
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • IOS
  • WEB
BTCBCHETHXLMUSDDUSDT
7 Bread Wallet Bread Wallet PERSONAL MEDIUM SPV check
  • OPEN SOURCE
  • HIERARCHICAL DETERMINISTIC
  • ANDROID
  • IOS
BTCBCHETHERC20XRPHBARUNIASTBUSD
8 Ledger Nano S Ledger Nano S PERSONAL HIGH CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • HIERARCHICAL DETERMINISTIC
  • OPEN SOURCE
  • HARDWARE
  • WINDOWS
  • MAC OS
  • LINUX
  • ANDROID
BTCETHLTCDOGEZECDASHSTRATBCHKMDETC
9 Coinbase Wallet Coinbase Wallet THIRD PARTY ENCRYPTED LOW CENTRALIZED check
  • MULTI-SIGNATURE
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • IOS
  • WEB
  • CHROME EXTENSION
BTCETHLTCETCBCHERC20
10 Coinjar Wallet Coinjar Wallet THIRD PARTY LOW CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • IOS
BTCETHLTCXRPXLMUSDCLINK
11 Luno Wallet Luno Wallet THIRD PARTY LOW CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • IOS
  • WEB
BTCETHXRPLTCBCH
12 Bitgo Wallet Bitgo Wallet THIRD PARTY ENCRYPTED MEDIUM CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • HIERARCHICAL DETERMINISTIC
  • MULTI-SIGNATURE
  • WEB
  • IOS
  • ANDROID
BTCBCHBTGXRPLTCETHERC20DASHXLM
13 Circle Invest Circle Invest THIRD PARTY ENCRYPTED LOW CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • IOS
BTCBCHETHETCLTCXMRZECXLMZRXQTUM
14 Ethereum Mist Wallet ÐApp Ethereum Mist Wallet ÐApp PERSONAL MEDIUM FULL NODE check
  • MULTI-SIGNATURE
  • OPEN SOURCE
  • LINUX
  • WINDOWS
  • MAC OS
ETH
15 KeepKey Wallet KeepKey Wallet PERSONAL MEDIUM SPV check
  • HIERARCHICAL DETERMINISTIC
  • HARDWARE
  • WINDOWS
  • LINUX
  • MAC OS
  • ANDROID
BTCLTCNMCDOGEDASHETHBCHERC20
16 SpectroCoin SpectroCoin THIRD PARTY ENCRYPTED LOW CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • WEB
  • IOS
  • WINDOWS PHONE
BTCETHNEMDASH
17 Coin Wallet Coin Wallet PERSONAL HIGH SPV check
  • HIERARCHICAL DETERMINISTIC
  • OPEN SOURCE
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • IOS
  • WEB
  • WINDOWS
  • MAC OS
BTCLTCETHBCHERC20XRPXLMDOGEDASHXRM
18 CoolWallet CoolWallet PERSONAL MEDIUM SPV check
  • HIERARCHICAL DETERMINISTIC
  • 2 FACTOR AUTHENTICATION
  • OPEN SOURCE
  • HARDWARE
  • IOS
  • ANDROID
BTCETHLTCXRPBCHERC20
19 Jaxx Wallet Jaxx Wallet PERSONAL HIGH CENTRALIZED check
  • HIERARCHICAL DETERMINISTIC
  • ANDROID
  • IOS
  • CHROME EXTENSION
  • WINDOWS
  • MAC OS
  • LINUX
BTCETHETCDASHDAOLTCREPZEC1ST
20 Zebpay Zebpay THIRD PARTY ENCRYPTED MEDIUM CENTRALIZED check
  • MULTI-SIGNATURE
  • IOS
  • ANDROID
BTCETHLTCXRPBCHTRXEOS
21 CoinCorner CoinCorner THIRD PARTY LOW CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • WINDOWS PHONE
  • IOS
  • WEB
BTCETHLTC
22 EtherLi Wallet EtherLi Wallet PERSONAL MEDIUM SPV check
  • 2 FACTOR AUTHENTICATION
  • MULTI-SIGNATURE
  • WEB
ETH
23 MyEtherWallet MyEtherWallet PERSONAL HIGH CENTRALIZED check
  • OPEN SOURCE
  • WEB
  • CHROME EXTENSION
  • IOS
ETHERC20
24 Ethereum Freewallet Ethereum Freewallet THIRD PARTY ENCRYPTED HIGH CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • MULTI-SIGNATURE
  • HIERARCHICAL DETERMINISTIC
  • ANDROID
  • IOS
  • WINDOWS
ETH
25 SingularDTV Light Wallet SingularDTV Light Wallet PERSONAL HIGH CENTRALIZED check
  • HIERARCHICAL DETERMINISTIC
  • WEB
ETHSNGLS
26 Etherwall Etherwall PERSONAL HIGH CENTRALIZED check
  • OPEN SOURCE
  • MAC OS
  • WINDOWS
  • LINUX
ETHERC20
27 MetaMask MetaMask PERSONAL HIGH CENTRALIZED check
  • HIERARCHICAL DETERMINISTIC
  • OPEN SOURCE
  • CHROME EXTENSION
  • ANDROID
ETHERC20
28 Gatehub Gatehub THIRD PARTY ENCRYPTED LOW CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • OPEN SOURCE
  • WEB
BTCXRPETHETCREP
29 Bitpanda Bitpanda THIRD PARTY LOW CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • HIERARCHICAL DETERMINISTIC
  • OPEN SOURCE
  • MULTI-SIGNATURE
  • WEB
  • MAC OS
BTCETHLTCDASHXRPBCHKMDMIOTAEOS
30 Bitinka Bitinka THIRD PARTY MEDIUM CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • WEB
BTCETHLTCXRP
31 CoinSpot CoinSpot THIRD PARTY MEDIUM CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • WEB
BTCLTCDOGEDASHETHBCHXRPNEOXEMXMR
32 Carbon Wallet Carbon Wallet PERSONAL MEDIUM CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • HIERARCHICAL DETERMINISTIC
  • MULTI-SIGNATURE
  • IOS
  • ANDROID
BTCZCLBCHZECLTCDASHBTCPETHCIXERC20
33 vSlice Wallet vSlice Wallet PERSONAL HIGH CENTRALIZED check
  • OPEN SOURCE
  • WEB
  • ANDROID
  • MAC OS
  • IOS
VSLETHETC
34 Mobi Mobi THIRD PARTY LOW CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • ANDROID
  • IOS
BTCLTCETHEOSBCHXRPDASHBTGXMR
35 Nuri Nuri PERSONAL MEDIUM CENTRALIZED check
  • 2 FACTOR AUTHENTICATION
  • MULTI-SIGNATURE
  • HIERARCHICAL DETERMINISTIC
  • OPEN SOURCE
  • WEB
  • IOS
  • ANDROID
BTCETH
36 Blockchains.my Blockchains.my THIRD PARTY ENCRYPTED MEDIUM CENTRALIZED check
  • ANDROID
BTCETHZECDNCGSC
37 Ethereum Wallet Ethereum Wallet PERSONAL HIGH CENTRALIZED check
  • OPEN SOURCE
  • WEB
ETH
Time Ranges
1 HOUR +0.01%
24 HOURS +0.03%
7 DAYS +0.09%
30 DAYS -0.01%
UPDATED: 25/04/2025 16:06
24h USD Activity
SPOT MOVING CHANGE $0.0001920914
+0.02%
SPOT MOVING QUOTE VOLUME $37,200,073.49
CIRCULATING MARKET CAP $4,754,271,712.79
TOTAL MARKET CAP $4,754,271,712.79
UPDATED: 25/04/2025 00:59
Supply & Distribution
SUPPLY
ISSUED 4,755,509,000 (100%)
TOTAL CURRENT 4,755,509,000
DISTRIBUTION
  CIRCULATING 4,755,509,000
  LOCKED 0
  BURNT 0
Specification
LAUNCHED 20/11/2023
TEAM
GUY YOUNG (FOUNDER)
CIRCULATING SUPPLY 4,755,509,000
TOTAL CURRENT SUPPLY 4,755,509,000
TYPE
TOKEN
PARENT ASSET
USD
SECTOR
STABLECOIN
BRIDGES / PLATFORMS
ETH
SOL
Publications & Reports
AUDIT
system_update_alt Ethena - Zellic Audit Report Draft
AUDIT
system_update_alt Quantstamp Audit on v1 of contracts
AUDIT
system_update_alt Spearbit Audit on v1 of contracts
AUDIT
system_update_alt Independent Audit by Pashov on v1 of contracts
AUDIT
system_update_alt Public Code4rena Audit on v1 of contracts
AUDIT
system_update_alt Independent Audit by Pashov on V2 of contracts
AUDIT
system_update_alt Chaos Labs - Ethena LST Market Risk Analysis
AUDIT
system_update_alt Chaos Labs - Ethena Perpetual Assessment Report Final.pdf
AUDIT
system_update_alt Chaos Labs - USDe On Chain Liquidity Assessment
ESG REPORT
system_update_alt Governance - Uploaded 03/10/2024
UPDATED: 25/04/2025 16:06
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# Chain / Bridge Asset Issuer Inherited Decimals Start / End Token Standard Trading As
1
check check 18 20/11/2023
ERC20
USDE | Ethena USDe USDE   
2
check check 9 26/07/2024
SPL
USDE | Ethena USDe USDE   
3
check check 18 14/11/2023
ERC20
SUSDE | Ethena Staked USDe SUSDE   
Top Cryptos: Gainers (24H)
  • Alpaca Finance (ALPACA)
    Alpaca Finance  ALPACA
    $0.1588
    76.81%  +$0.069  (24H)
  • Biswap (BSW)
    Biswap  BSW
    $0.03448
    64.95%  +$0.014  (24H)
  • LeverFi (LEVER)
    LeverFi  LEVER
    $0.0007616
    52.28%  +$0.00026  (24H)
  • Flamingo (FLM)
    Flamingo  FLM
    $0.03115
    51.04%  +$0.011  (24H)
  • Pudgy Penguins (PENGU)
    Pudgy Penguins  PENGU
    $0.009346
    40.42%  +$0.0027  (24H)
  • Bitcoin SV (BSV)
    Bitcoin SV  BSV
    $41.26
    34.33%  +$10.54  (24H)
  • ai16z (AI16Z)
    ai16z  AI16Z
    $0.2420
    32.60%  +$0.059  (24H)
  • Ardor (ARDR)
    Ardor  ARDR
    $0.1376
    28.77%  +$0.031  (24H)
Top Cryptos: Losers (24H)
  • Zerebro (ZEREBRO)
    Zerebro  ZEREBRO
    $0.07012
    -6.94%  -$0.0052  (24H)
  • AERGO (AERGO)
    AERGO  AERGO
    $0.2141
    -1.72%  -$0.0038  (24H)
  • PAX Gold (PAXG)
    PAX Gold  PAXG
    $3,284.09
    -1.79%  -$59.94  (24H)
  • Render Network (RENDER)
    Render Network  RENDER
    $4.53
    -1.46%  -$0.067  (24H)
  • Polygon Ecosystem Token (POL)
    Polygon Ecosystem Token  POL
    $0.2474
    -1.36%  -$0.0034  (24H)
  • TRON (TRX)
    TRON  TRX
    $0.2441
    -1.17%  -$0.0029  (24H)
  • Maker (MKR)
    Maker  MKR
    $1,478.76
    -0.53%  -$7.95  (24H)
  • Ondo (ONDO)
    Ondo  ONDO
    $1.01
    -0.19%  -$0.0019  (24H)
Top Cryptos: Gainers (24H)
  • Alpaca Finance (ALPACA)
    Alpaca Finance  ALPACA
    $0.1588
    76.81%  +$0.069  (24H)
    Biswap (BSW)
    Biswap  BSW
    $0.03448
    64.95%  +$0.014  (24H)
    LeverFi (LEVER)
    LeverFi  LEVER
    $0.0007616
    52.28%  +$0.00026  (24H)
    Flamingo (FLM)
    Flamingo  FLM
    $0.03115
    51.04%  +$0.011  (24H)
  • Pudgy Penguins (PENGU)
    Pudgy Penguins  PENGU
    $0.009346
    40.42%  +$0.0027  (24H)
    Bitcoin SV (BSV)
    Bitcoin SV  BSV
    $41.26
    34.33%  +$10.54  (24H)
    ai16z (AI16Z)
    ai16z  AI16Z
    $0.2420
    32.60%  +$0.059  (24H)
    Ardor (ARDR)
    Ardor  ARDR
    $0.1376
    28.77%  +$0.031  (24H)
Top Cryptos: Losers (24H)
  • Zerebro (ZEREBRO)
    Zerebro  ZEREBRO
    $0.07012
    -6.94%  -$0.0052  (24H)
    AERGO (AERGO)
    AERGO  AERGO
    $0.2141
    -1.72%  -$0.0038  (24H)
    PAX Gold (PAXG)
    PAX Gold  PAXG
    $3,284.09
    -1.79%  -$59.94  (24H)
    Render Network (RENDER)
    Render Network  RENDER
    $4.53
    -1.46%  -$0.067  (24H)
  • Polygon Ecosystem Token (POL)
    Polygon Ecosystem Token  POL
    $0.2474
    -1.36%  -$0.0034  (24H)
    TRON (TRX)
    TRON  TRX
    $0.2441
    -1.17%  -$0.0029  (24H)
    Maker (MKR)
    Maker  MKR
    $1,478.76
    -0.53%  -$7.95  (24H)
    Ondo (ONDO)
    Ondo  ONDO
    $1.01
    -0.19%  -$0.0019  (24H)
account_balance_wallet
close star brightness_4 $