Ethena USDe $USDE is a synthetic decentralized stablecoin leveraging advanced technologies for secure, transparent financial transactions. More
| Fully Diluted Valuation | $14.03B |
|---|---|
| 24H Trading Volume | $3.85B |
| 24H Low / High | $0.96 / $ 1.01 |
| Circulating Supply | 14.03B |
| Total Supply | 14.03B |
| Max Supply | ∞ |
| Categories | Stablecoins 6 more |
|---|---|
| Founder | Guy Young |
| Website | ethena-labs.gitbook.io Whitepaper 1 more |
| Socials | |
| Chains | Ethereum Ecosystem 26 more |
| Explorer | Solscan 9 more |
| Contracts |
0x4c9....e68b3
26 more
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| Name | Pair | OG Score |
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Ethena USDe $USDE traces its inception to the growing demand for a stable, secure, and decentralized financial instrument within the blockchain ecosystem. Founded by a team of blockchain innovators dedicated to reshaping stablecoin protocols, the project began with a clear goal: to deploy a stablecoin that seamlessly integrates advanced decentralization mechanisms while offering unmatched reliability. Although the exact founding year remains debatable, Ethena USDe $USDE gained rapid recognition for establishing itself as a trusted and technologically superior project. Notable milestones include integration on prominent blockchain networks and recognition in major financial publications highlighting its adoption by institutional investors.
Ethena USDe $USDE is distinguished by its robust technical architecture, which incorporates cutting-edge smart contract functionalities and enhanced security protocols. Unlike traditional stablecoins that rely on centralized reserves, Ethena USDe $USDE employs a fully decentralized collateral and reserve protocol, ensuring transparency, trustlessness, and stability.
Collateral and Backing: $USDE is backed 1:1 by a mix of liquid crypto assets held on-chain: stable assets like USDT and USDC for low volatility, and yield-bearing assets such as staked ETH (e.g., stETH). These assets are custodied off-exchange by multiple institutional providers for risk diversification but remain fully on-chain for transparency. Collateral is only temporarily delegated to derivatives exchanges for margin hedging, never fully transferred, minimizing counterparty risk. The system maintains overcollateralization at ~1:1 with no material leverage beyond exchange-required haircuts.
Delta-Neutral Hedging Strategy: To maintain stability, Ethena USDe $USDE employs a delta-neutral hedging approach. When collateral (e.g., staked ETH) is deposited, the protocol opens a short perpetual futures position on centralized exchanges like Binance or Bybit, matching the notional value of the collateral. This ensures that price movements in the collateral are offset by the hedging position, keeping the synthetic USDe stable at ~$1 regardless of crypto market volatility.
Algorithmic Stability: Advanced algorithms dynamically adjust protocol parameters to reduce volatility and maintain the price peg effectively.
Blockchain Interoperability: Ethena USDe $USDE is compatible with multiple blockchain infrastructures, enabling seamless transactions across diverse ecosystems.
Enhanced Security Mechanisms: With smart contracts audited by leading security firms, $USDE offers high security. A cryptographic auditing mechanism allows users to monitor reserve liquidity in real time for transparency.
Energy Efficiency: Eco-friendly consensus mechanisms reduce computational resource usage compared to traditional blockchains, lowering the environmental footprint.
Institutional Finance: $USDE facilitates cross-border remittances without intermediaries, reducing operational costs for financial institutions.
Decentralized Applications (dApps): Used for lending, collateralized borrowing, and yield optimization across DeFi platforms.
Retail Transactions: Preferred by startups and e-commerce platforms for its stable value and minimal transaction fees, supporting efficient high-volume operations.
Utility: Acts as both a medium of exchange and a store of value, enabling transactions across blockchain ecosystems.
Demand Drivers: Reliance on decentralized finance and institutional investments drives adoption, with liquidity pools incentivizing holdings and transactions.
Value Mechanisms: Governance protocols allow stakeholders to participate in decision-making, fostering decentralization and long-term value retention.
Ethena USDe $USDE supports a growing developer ecosystem through grants and resources, fostering innovation. Strategic partnerships span blockchain-native platforms and mainstream firms, bridging decentralized and centralized financial systems.
Multi-layer scaling optimizations improved transaction throughput and minimized latency.
Collaborations with globally recognized hedge funds highlight growing institutional credibility.
Inclusion in regulatory compliance frameworks boosted adoption.
Participation in cross-border CBDC pilot programs represents innovation bridging DeFi and governmental initiatives.
Ethena USDe $USDE has established itself as a leader in the stablecoin sector through innovative collateral systems, delta-neutral hedging, and robust technical infrastructure. Coupled with institutional collaborations and community engagement, $USDE is positioned for sustained relevance and influence in the evolving decentralized economy.
Ethena USDe $USDE employs advanced algorithmic stability mechanisms that dynamically adjust its protocol parameters to reduce market volatility and maintain a stable peg.
Ethena USDe $USDE integrates eco-friendly consensus mechanisms that significantly reduce computational resource usage in comparison to traditional blockchain networks.
Ethena USDe $USDE is utilized in institutional finance for cost-effective cross-border remittances, integrated into decentralized applications for lending and borrowing, and adopted by e-commerce platforms as a low-cost payment alternative
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.
You can buy Ethena USDe (USDE) on Binance, Bitget, MEXC, BybitBitrue cryptocurrency exchanges.
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