Synthetic dollar protocol backed by delta-hedged staked ETH positions. Staked USDe (sUSDe) earns yield from funding rates and staking rewards.
Current APY
12.50%
Total Value Locked
$5.20B
Price
$1
Holders
245.0K
Market Cap
$5.20B
Yield History
Tokenomics Score
Yield vs Peers
Rank #1 of 14 in StablecoinsYield Calculator
| Period | USDe(12.50%) | Bank Savings(4.5%) | Advantage |
|---|---|---|---|
| 30 Days | +$102.74 | +$36.99 | +$65.75 |
| 90 Days | +$308.22 | +$110.96 | +$197.26 |
| 6 Months | +$623.29 | +$224.38 | +$398.9 |
| 1 Year | +$1,250 | +$450 | +$800 |
Projected returns based on current APY. Actual returns may vary. Not financial advice.
Risk Scanner
3/7 checks passedAudited by Code4rena
Moderate counterparty exposure
No KYC — may face future regulatory scrutiny
Deep liquidity — 5.20B TVL
Available on 3 chains — well diversified
Lock period: 7 days (for sUSDe unstaking)
Moderate fluctuation — within 15% of 30d average
Protocol Health
Contract Status
Data Feed
Audit Status
Oracle Health
Holder Activity
Reserve Transparency
Entry & Exit Costs
Break-even Insight
On base, a $1,000 investment at 12.50% APY recovers gas costs (entry + exit) in 1 days.
Key Facts
- Name
- Ethena USDe
- Ticker
- USDe
- Category
- Stablecoins
- Platform
- Ethena Labs
- Inception
- Feb 19, 2024
- Management Fees
- 0%
Investment Details
- Min. Investment
- None
- Lock Period
- 7 days (for sUSDe unstaking)
- KYC Required
- No
- Accredited Only
- No
- Eligible Investors
- All Investors
- Available Chains
- ethereum, arbitrum, base
Market Data
- TVL
- $5.20B
- Price
- $1
- Market Cap
- $5.20B
- Holders
- 245,000
- 7D APY
- 11.80%
- 30D APY
- 13.20%
- Risk Level
- medium risk
- Audit Status
- audited (Code4rena)
Chain Distribution
| Network | TVL | Share | Contract |
|---|---|---|---|
ethereum | $3.12B | 60.0% | 0x4c9E...68B3 |
arbitrum | $1.04B | 20.0% | — |
base | $1.04B | 20.0% | — |
Similar Stablecoins Assets
Frequently Asked Questions
What is Ethena USDe?
Synthetic dollar protocol backed by delta-hedged staked ETH positions. Staked USDe (sUSDe) earns yield from funding rates and staking rewards.
What is the current yield on USDe?
USDe currently offers 12.50% APY. The 7-day average is 11.80% and 30-day average is 13.20%.
Is USDe safe?
USDe has a medium risk rating and a tokenomics score of B. It is audited by Code4rena. Always do your own research before investing.
How do I buy USDe?
USDe is available on ethereum, arbitrum, base. No KYC is required. No minimum investment.
What chains is USDe available on?
USDe is deployed on Ethereum, Arbitrum, Base. Each chain may have different liquidity levels and gas costs.
Last updated: Mar 28, 2026, 9:29 AM