Synthetic dollar · #24 by market cap (snapshot)
Ethena USDe
—
24h loading…
Ethena USDe (USDE) — USDe from Ethena is a 'synthetic dollar'. It isn't backed by bank deposits but by crypto collateral hedged with short perpetual futures.
🧩 What it is
USDe from Ethena is a 'synthetic dollar'. It isn't backed by bank deposits but by crypto collateral hedged with short perpetual futures.
⚡ Why it's interesting
Staked USDe (sUSDe) can earn yield from staking rewards and funding rates, which has attracted a lot of capital.
⚠️ Key risks
It's not a classic stablecoin. If funding rates turn negative for long, yields fall and the structure is tested. It relies on exchanges and custodians, and the peg could slip in a crisis.
👀 What to watch
funding rates, Ethena's reserve fund and how fast supply grows or shrinks. High yields usually mean higher risk.
Written by the Hodlia.fi editorial team. Education only — not financial advice, no price predictions. Contains a TradingView affiliate link.
Last 30 days
Open USDE chart in TradingView Affiliate: if you subscribe via our TradingView link, Hodlia may earn a commission at no extra cost to you.
❓ Ethena USDe FAQ
What is Ethena USDe (USDE)?
USDe from Ethena is a 'synthetic dollar'. It isn't backed by bank deposits but by crypto collateral hedged with short perpetual futures.
Why do people follow Ethena USDe?
Staked USDe (sUSDe) can earn yield from staking rewards and funding rates, which has attracted a lot of capital.
What are the main risks of Ethena USDe?
It's not a classic stablecoin. If funding rates turn negative for long, yields fall and the structure is tested. It relies on exchanges and custodians, and the peg could slip in a crisis.
What should I watch with Ethena USDe?
funding rates, Ethena's reserve fund and how fast supply grows or shrinks. High yields usually mean higher risk.
Is Ethena USDe a good investment?
Hodlia не надає інвестиційних порад. Чи підходить вам Ethena USDe, залежить від ваших цілей, горизонту та того, яку втрату ви можете витримати. Ціни крипти можуть падати різко й швидко. Прочитайте ризики вище, порівняйте з диверсифікованою альтернативою та зверніться по незалежну пораду.