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.
0x4c9edd5852cd905f086c759e8383e09bff1e68b34.44B USDe
Current global circulating supply
Current total supply 4.46B USDe
The supply fields have different or unconfirmed scopes; original values are shown separately.
47.45K Holder address count
Top-10 holder share 87.91% · Other 12.09%
Labels on some samples cannot be generalized to all holders.
Reported launch information
Developer holding percentage uses the original field; missing values are not filled with zero.
Launch completion and liquidity migration use their respective reported flags; no near-completion stage is inferred.
Supply & current valuation
Holder structure
Address count, not unique users
Public safety status
Scam · Unknown
Honeypot · Unknown
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