USDe USDe
1 · Ethereum Ecosystem · Hyperliquid Ecosystem · Stablecoins · USD Stablecoin
USDe is a synthetic dollar stablecoin issued by Ethena Protocol. It is used as collateral in DeFi applications and for earning yield through staking. The protocol maintains the dollar peg by holding spot crypto assets as collateral while taking offsetting short positions in derivatives markets, creating a market-neutral position that allows USDe to capture funding rate yields without directional price exposure.
0x4c9edd5852cd905f086c759e8383e09bff1e68b3Trading volume and liquidity
24h volume $51.78M · Total token liquidity $6.4M。
Volume / current liquidity 808.39%
Volume is a flow over a period; liquidity is a stock at a point in time.
Supply and valuation
Circulating market cap $4.44B · FDV $4.45B。
The two valuations are not yet comparable; their original values are shown separately.