Ethena USDe
USDE Price
Ethena offers USDe, a stable synthetic dollar, and the 'Internet Bond' savings instrument. More
| Fully Diluted Valuation | $5.75B |
|---|---|
| 24H Trading Volume | $134.08M |
| 24H Low / High | $1.00 / $ 1.02 |
| Circulating Supply | 5.74 B |
| Total Supply | 5.74 B |
| Max Supply | 0.00 |
| Categories | Stablecoins 5 more |
|---|---|
| Founder | Guy Young |
| Website | ethena-labs.gitbook.io Whitepaper |
| Socials | |
| Chains | Ethereum Ecosystem 5 more |
| Explorer | Zksync 9 more |
| Contracts |
0x4c9....e68b3
5 more
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| # | Name | Pair | 24h Volume | OG Score |
|---|
Ethena (USDE) - Redefining Money with a Synthetic Dollar Protocol
Ethena, founded in 2023 by Guy Young, is a synthetic dollar protocol built on Ethereum. It aims to revolutionize the concept of money by providing a crypto-native solution independent of traditional banking systems.
USDe: A Censorship-Resistant, Scalable, and Stable Synthetic Dollar
At its core, Ethena offers USDe, a censorship-resistant, scalable, and stable synthetic dollar achieved by delta-hedging staked Ethereum collateral. This approach ensures that USDe is fully backed and transparently on-chain, offering users the freedom to compose throughout decentralized finance (DeFi).
Innovative Stability Mechanisms for USDe's Peg
The key to USDe's peg stability lies in its delta hedging derivatives positions against protocol-held collateral, combined with a mint and redeem arbitrage mechanism. This innovative design ensures that USDe maintains its peg to the US dollar, providing users with a reliable and stable digital currency.
Introducing the 'Internet Bond'
In addition to USDe, Ethena introduces the 'Internet Bond,' a dollar-denominated savings instrument that combines yield derived from staked Ethereum with funding and basis spread from perpetual and futures markets. This unique bond offers users in permitted jurisdictions a new way to save and earn in the crypto economy.
Recent Funding and Investor Interest
Recently, Ethena raised $14 million from notable investors, including Dragonfly, Brevan Howard Digital, Avon Ventures (an affiliate of Fidelity Investment's parent company), Franklin Templeton, PayPal Ventures, Maelstrom (the family office of BitMex founder Arthur Hayes), and major derivative exchanges like Binance, Bybit, OKX, Deribit, Gemini, and Kraken. This funding reflects the growing interest in Ethena's innovative approach to decentralized finance and stablecoins.
Navigating Risks in a Complex Financial Landscape
However, it's important to note that USDe is a complex financial product, not without risks. While Ethena is not exposed to the banking system, USDe is exposed to counterparty risks of partner liquid staking protocols and derivatives exchanges. Additionally, liquidity risks in the futures market during times of crisis could impact USDe's stability.
A Promising Future for Ethena
In conclusion, Ethena's USDe and the 'Internet Bond' represent a significant step forward in creating a crypto-native financial ecosystem that offers stability, scalability, and censorship resistance. As Ethena continues to innovate and expand its offerings, it is poised to play a key role in shaping the future of decentralized finance.
Ethena offers USDe, a censorship-resistant, scalable, and stable synthetic dollar achieved by delta-hedging staked Ethereum collateral, providing a crypto-native solution independent of traditional banking systems.
Ethena was founded in 2023 by Guy Young.
Ethena has raised $14 million from investors including Dragonfly, Brevan Howard Digital, Avon Ventures (an affiliate of Fidelity Investment's parent company), Franklin Templeton, PayPal Ventures, Maelstrom (the family office of BitMex founder Arthur Hayes), and major derivative exchanges like Binance, Bybit, OKX, Deribit, Gemini, and Kraken.
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There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.
This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of Ethena USDe (USDE) is ($5,741,033,966), max supply of Ethena USDe USDE is ($0) and the market cap of Ethena USDe USDE is ($5,748,560,186).
What is the Ethena USDe (USDE) price prediction?
Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!
The current market price of Ethena USDe (USDE) is $1. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.
It is important to do comprehensive research before deciding whether Ethena USDe (USDE) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:
Is this type of digital asset considered legal in your country?
Does Coin (Ethena USDe USDE) solve a good problem or offer the best solution?
Do products and services work effectively, and solutions are scalable?
Does the team have a realistic roadmap and can catch up with it?
Does Ethena USDe (USDE) have reasonable and sustainable revenue income models?
Can the team market their products and services well?
How decentralized is the governance and how strong is the community?
Has it reached its fair market value yet?
Does the coin/token have enough trading pairs and liquidity?
As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether Ethena USDe (USDE) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.
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