Ethena USDe - Protocol Analytics

Explore Ethena USDe, a leading protocol with $14,320,839,565.18 in total value locked. Get real-time metrics, charts, and insights.

Ethena USDe
protocol

TVL

$14.321B
-0.00% from yesterday
+1.75% from last week

Volume (24h)

-
3.28% TVL dominance

Fees (24h)

$1.3K
$12.93M 7d fees
$52.4M 30d fees

Revenue (24h)

$1.3K
$533.6K 7d revenue
$2.52M 30d revenue
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About Ethena USDe
USDe is Ethena’s synthetic dollar backed by delta‑neutral ETH perpetual hedge positions rather than off‑chain treasuries. The collateral basket auto‑rebalances between spot ETH, LSTs and short perps so the net delta remains near zero, turning staking rewards and funding rates into protocol revenue. USDe launched on Ethereum in January 2024 and surpassed $2 billion supply within five months, with deep secondary liquidity on Curve and Bybit.

Blockchains supporting Ethena USDe

BlockchainTVL24h7d
ET

Ethereum

$85,857,250,097-0.39%-10.31%