Ethena USDtb - Protocol Analytics

Explore Ethena USDtb, a Protocol with $454,291,955.13 in total value locked (TVL). Get real-time metrics, charts, and insights. Data from DefiLlama.

Website @ethena

TVL

$454.29M

-7.02% from yesterday

-8.80% from last week

Volume (24h)

0.16% TVL dominance

Fees (24h)

Revenue (24h)

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About Ethena USDtb

USDTβ is Ethena’s synthetic USDT exposure that mirrors Tether’s price but sources collateral from delta‑neutral perps instead of treasury bills. The product offers a higher yield than USDe because it harvests the positive funding differential between USDT and USDC perpetual markets. USDTβ supply is capped at $1 billion until a full audit of reserve accounting completes.