01 /
Brief
Ethena's staked USDe. Functions like an onchain savings account. Deposit USDe, receive sUSDe, earn yield from basis trades and staking. The token's exchange rate rises over time rather than paying out separately. 7-day cooldown on withdrawals.
02 /
Snapshot
Key terms and identifiers.
- Asset classes
- Treasuries
- Token standards
- erc-20, eip-4626
- Jurisdiction
- Global
- Analytics
- defillama.com/protocol/ethena
03 /
Milestones
How this player got here.
- Mar 2026sUSDe staked supply scaled with USDe market cap; protocol revenue continued accruing to stakers
- 2025Yield distribution scaled alongside USDe market cap growth
- Dec 2024Crossed $2B TVL with 15%+ yield
- Apr 2024sUSDe staking live
04 /
Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
- USDeBuilds onUnderlying stablecoin
- EthenaIntegratesIssuer
- BUIDLIntegratesReserve backing via USDtb
- EthereumBuilds onPrimary chain
- MorphoIntegratesCollateral asset
- AaveIntegratesCollateral asset
- PendleIntegratesLargest yield market source
- BNB ChainBuilds on
- ArbitrumBuilds on
- KaminoIntegratesCollateral on Kamino
- SolanaBuilds on
