Ethena USDe token
Overview
USDe is a synthetic dollar stablecoin issued by the Ethena protocol. It maintains its peg via a delta-neutral hedging strategy that combines staked ETH collateral with short ETH perpetual futures positions. It is used as a stable asset in DeFi.
Within the DeFi Intel graph, Ethena USDe connects to 44 tracked entities, most strongly to Ethereum, Solana, Arbitrum.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 10 of 44 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | Ethereum | 95% |
deployed_on | Solana | 95% |
deployed_on | Arbitrum | 95% |
deployed_on | Base | 95% |
deployed_on | BSC | 95% |
lists_market_for | Pendle | 95% |
deployed_on | zkSync Era | 95% |
deployed_on | Linea | 95% |
deployed_on | Scroll | 95% |
deployed_on | Mantle | 95% |
In-depth guides on Ethena USDe
Frequently asked questions
What is Ethena USDe?
USDe is a synthetic dollar stablecoin backed by a delta-neutral position of staked ETH and short ETH perpetual futures, designed to maintain a stable value.
How does USDe maintain its peg?
It uses a delta-neutral strategy: collateral is held in staked ETH while short ETH perpetual futures are opened to offset ETH price movements, keeping the net value stable.
What are the risks of USDe?
Key risks include counterparty risk from centralized exchanges used for futures positions, smart contract vulnerabilities, and basis risk from volatile funding rates.
What is Ethena USDe connected to?
In the DeFi Intel knowledge graph, Ethena USDe is linked to 44 other tracked entities, most strongly to Ethereum, Solana, Arbitrum.
More on Ethena USDe
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