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Ethena USDe(USDE)

Onchain AUM$4.582b

Onchain AUM by chain

Ethereum$2.453b

Plasma$607.94m

Base$380.05m

Robinhood Chain$367.77m

Solana$318.57m

TON$140.71m

Monad$117.24m

BSC$78.35m

Mantle$78.27m

Avalanche$13.58m

Berachain$11.98m

Hyperliquid L1$7.41m

X Layer$4.76m

Arbitrum$1.9m

Morph$78,389

Zircuit$66,693

MegaETH$61,834

Fraxtal$26,884

OP Mainnet$24,905

Blast$17,147

Ink$7,149

Linea$6,484

ZKsync Era$2,568

Scroll$1,953

Manta$1,749

Mode$974

Movement$904

Metis$372

Kava$140

Tempo$22

Key Metrics

Active AUM$4.582b

Ethereum$2.453b

Plasma$607.94m

Base$380.05m

Robinhood Chain$367.77m

Solana$318.57m

TON$140.71m

Monad$117.24m

BSC$78.35m

Mantle$78.27m

Avalanche$13.58m

Berachain$11.98m

Hyperliquid L1$7.41m

X Layer$4.76m

Arbitrum$1.9m

Morph$78,389

Zircuit$66,693

MegaETH$61,834

Fraxtal$26,884

OP Mainnet$24,905

Blast$17,147

Ink$7,149

Linea$6,484

ZKsync Era$2,568

Scroll$1,953

Manta$1,749

Mode$974

Movement$904

Metis$372

Kava$140

Tempo$22

DeFi Active TVL$3.973b

LayerZero V2$2.131b

Ethereum$2.131b

Aave V3$1.01b

Plasma$607.3m

Ethereum$252.42m

Monad$117.09m

Mantle$32.77m

Avalanche$274,324

X Layer$24,505

MegaETH$24,177

Morpho Blue$443.09m

Base$378.71m

Ethereum$64.32m

Hyperliquid L1$53,756

Arbitrum$41

Jupiter Lend$260.37m

Solana$260.37m

Kamino Lend$51.84m

Solana$51.84m

Aave V4$27.06m

Ethereum$27.06m

Huma$15.31m

Solana$15.31m

Curve DEX$9.02m

Ethereum$8.76m

Plasma$218,031

Hyperliquid L1$36,030

Fraxtal$4,271

Arbitrum$539

Uniswap V4$5.67m

X Layer$4.85m

Ethereum$800,945

BSC$4,480

Base$4,062

Avalanche$3,787

OP Mainnet$1,907

Monad$1,351

Arbitrum$313

MegaETH$299

Ink$80

Kodiak V3$3.41m

Berachain$3.41m

Uniswap V3$3.12m

Ethereum$2.52m

Base$316,195

Avalanche$279,362

BSC$2,554

Arbitrum$318

Pendle V2$2.6m

Ethereum$2.16m

Arbitrum$206,501

BSC$98,401

Monad$58,500

Mantle$51,081

Plasma$27,353

Orca DEX$2.18m

Solana$2.18m

Agni Finance$2.12m

Mantle$2.12m

PumpSwap$1.25m

Solana$1.25m

Ethereal Season Zero$1.23m

Ethereum$1.23m

Compound V3$1.05m

Mantle$1.05m

Ethereum$557

Meteora DLMM$620,615

Solana$620,615

Fluid Lending$439,572

Ethereum$371,270

Plasma$40,851

Arbitrum$27,434

Base$17

Merchant Moe Liquidity Book$415,340

Mantle$415,340

Zircuit Staking$258,899

Ethereum$201,193

Zircuit$57,706

Injective Bridge$208,857

Ethereum$208,857

Derive V3 Options$172,425

Ethereum$172,425

OpenGDP Shared Security$151,745

Ethereum$151,745

Origin ARM$102,093

Ethereum$102,093

Re$75,820

Ethereum$75,820

Qualia$73,528

Hyperliquid L1$73,528

Yearn Finance$64,147

Arbitrum$64,147

HyperLend Pooled$58,389

Hyperliquid L1$58,389

GMX EVM$52,559

Arbitrum$52,559

Wildcat Protocol$47,837

Ethereum$47,837

Parallel Protocol V3$39,314

Hyperliquid L1$39,301

Ethereum$13

INIT Capital$34,138

Mantle$33,139

Blast$999

SYMMIO$32,977

Mantle$32,977

HypurrFi Pooled$26,936

Hyperliquid L1$26,936

Hyperdrive HL Lending$26,303

Hyperliquid L1$26,303

Camelot V3$20,256

Arbitrum$20,256

Venus Core Pool$18,111

BSC$18,034

Ethereum$77

RateX DEX$17,364

Solana$17,364

Balancer (Treasury)$12,513

Ethereum$12,513

Mantle Treasury (Treasury)$12,501

Ethereum$12,501

Swell L2 Farm$12,111

Ethereum$12,111

Manifest Trade$10,288

Solana$10,288

Hyperbeat Earn$9,531

Hyperliquid L1$9,531

Ekubo$7,717

Ethereum$7,717

HyperSwap V3$6,860

Hyperliquid L1$6,860

PancakeSwap AMM V3$6,691

BSC$5,446

Arbitrum$1,231

Ethereum$14

Tydro$6,488

Ink$6,488

Radpie$6,094

Arbitrum$6,094

Chamber (Treasury)$5,734

Ethereum$5,734

Thruster V3$5,500

Blast$5,500

KTX Perps$5,204

Mantle$5,204

Lendle Pooled Markets$5,196

Mantle$5,196

Teller$5,000

Ethereum$5,000

HX Finance$4,588

Hyperliquid L1$4,588

Ramses CL V2$4,053

Hyperliquid L1$4,053

Project X$3,623

Hyperliquid L1$3,623

HyperWave$2,926

Ethereum$2,600

Hyperliquid L1$285

Base$41

Beefy$2,909

Arbitrum$2,762

Hyperliquid L1$147

Euler V2$2,876

Ethereum$2,752

Plasma$67

Arbitrum$57

Metric V1$2,304

Ethereum$2,304

Kittenswap CL$1,924

Hyperliquid L1$1,924

Mezo Bridge$1,873

Ethereum$1,873

Apex Omni$1,658

Ethereum$979

Mantle$679

Orbit Protocol$1,234

Blast$1,234

Kumbaya$973

MegaETH$973

Gliquid$946

Hyperliquid L1$946

Fuel Bridge$893

Ethereum$893

Folks Finance (Treasury)$783

Avalanche$783

Corn Kernels$775

Ethereum$775

Maverick V2$691

ZKsync Era$691

Balancer V2$687

Fraxtal$533

Arbitrum$154

zkLink Nova$653

Ethereum$653

Latch$617

Ethereum$617

Contango V2$603

Ethereum$396

Arbitrum$207

Splice Finance$531

Mode$531

Uniswap V2$515

BSC$515

Lendle Isolated Markets$491

Mantle$491

Curve LlamaLend$414

Ethereum$414

Rumpel Labs$338

Ethereum$338

Omega$299

Mantle$299

Fraxlend$278

Ethereum$278

SushiSwap V3$277

Arbitrum$248

BSC$29

Meteora DAMM V1$263

Solana$263

Meteora vaults$263

Solana$263

Aurelius$250

Mantle$250

Velodrome V2$226

Fraxtal$215

Mode$11

Lista DEX$211

Ethereum$211

Stargate Finance (Treasury)$205

Ethereum$205

Fraxtal$178

Ethereum$178

PancakeSwap Infinity$175

BSC$175

Cypher V4$170

Ethereum$170

PulseChain Bridge$147

Ethereum$147

Folks Finance xChain$146

Avalanche$146

Native Credit Pool$145

Ethereum$145

Ambient$137

Scroll$137

Ultrasolid V3$120

Hyperliquid L1$120

SpringX$116

Plasma$116

Aero Slipstream$113

Base$77

Ethereum$36

BEX$89

Berachain$89

Ring Few$84

Blast$84

Cega V2$75

Ethereum$75

Timeswap V2$73

Hyperliquid L1$73

Radiant V2$70

Ethereum$70

Laminar$62

Hyperliquid L1$62

Royco V1$61

Ethereum$61

Hybra V3$55

Hyperliquid L1$55

SuperHedge$54

Ethereum$54

Supernova CL$50

Ethereum$50

Velkonix$50

MegaETH$50

Poolshark$50

Mode$50

Lista Lending$42

BSC$42

Ocelex V2$41

Zircuit$41

Nile CL$40

Linea$40

LayerBank$30

Scroll$30

deBridge$29

Ethereum$15

Arbitrum$14

Ionex$26

Plasma$26

Velodrome V3$26

Ink$26

edgeX (Treasury)$23

Ethereum$23

Tokenlon AMM$22

Ethereum$22

NEAR Intents$18

Ethereum$18

ShapeShift (Treasury)$14

Ethereum$14

Kittenswap Algebra$14

Hyperliquid L1$14

Aerodrome V1$12

Base$12

Railgun$10

Ethereum$10

Net Flows 7d

Net Flows 30d

USDE Price$1

Chains27

Native Yield4.94%

Ethena USDe(USDE)

Onchain AUM$4.582b

Onchain AUM by chain

Ethereum$2.453b

Plasma$607.94m

Base$380.05m

Robinhood Chain$367.77m

Solana$318.57m

TON$140.71m

Monad$117.24m

BSC$78.35m

Mantle$78.27m

Avalanche$13.58m

Berachain$11.98m

Hyperliquid L1$7.41m

X Layer$4.76m

Arbitrum$1.9m

Morph$78,389

Zircuit$66,693

MegaETH$61,834

Fraxtal$26,884

OP Mainnet$24,905

Blast$17,147

Ink$7,149

Linea$6,484

ZKsync Era$2,568

Scroll$1,953

Manta$1,749

Mode$974

Movement$904

Metis$372

Kava$140

Tempo$22

Market dataNet FlowsFlow vs price

Key Metrics

Active AUM$4.582b

Ethereum$2.453b

Plasma$607.94m

Base$380.05m

Robinhood Chain$367.77m

Solana$318.57m

TON$140.71m

Monad$117.24m

BSC$78.35m

Mantle$78.27m

Avalanche$13.58m

Berachain$11.98m

Hyperliquid L1$7.41m

X Layer$4.76m

Arbitrum$1.9m

Morph$78,389

Zircuit$66,693

MegaETH$61,834

Fraxtal$26,884

OP Mainnet$24,905

Blast$17,147

Ink$7,149

Linea$6,484

ZKsync Era$2,568

Scroll$1,953

Manta$1,749

Mode$974

Movement$904

Metis$372

Kava$140

Tempo$22

DeFi Active TVL$3.973b

LayerZero V2$2.131b

Ethereum$2.131b

Aave V3$1.01b

Plasma$607.3m

Ethereum$252.42m

Monad$117.09m

Mantle$32.77m

Avalanche$274,324

X Layer$24,505

MegaETH$24,177

Morpho Blue$443.09m

Base$378.71m

Ethereum$64.32m

Hyperliquid L1$53,756

Arbitrum$41

Jupiter Lend$260.37m

Solana$260.37m

Kamino Lend$51.84m

Solana$51.84m

Aave V4$27.06m

Ethereum$27.06m

Huma$15.31m

Solana$15.31m

Curve DEX$9.02m

Ethereum$8.76m

Plasma$218,031

Hyperliquid L1$36,030

Fraxtal$4,271

Arbitrum$539

Uniswap V4$5.67m

X Layer$4.85m

Ethereum$800,945

BSC$4,480

Base$4,062

Avalanche$3,787

OP Mainnet$1,907

Monad$1,351

Arbitrum$313

MegaETH$299

Ink$80

Kodiak V3$3.41m

Berachain$3.41m

Uniswap V3$3.12m

Ethereum$2.52m

Base$316,195

Avalanche$279,362

BSC$2,554

Arbitrum$318

Pendle V2$2.6m

Ethereum$2.16m

Arbitrum$206,501

BSC$98,401

Monad$58,500

Mantle$51,081

Plasma$27,353

Orca DEX$2.18m

Solana$2.18m

Agni Finance$2.12m

Mantle$2.12m

PumpSwap$1.25m

Solana$1.25m

Ethereal Season Zero$1.23m

Ethereum$1.23m

Compound V3$1.05m

Mantle$1.05m

Ethereum$557

Meteora DLMM$620,615

Solana$620,615

Fluid Lending$439,572

Ethereum$371,270

Plasma$40,851

Arbitrum$27,434

Base$17

Merchant Moe Liquidity Book$415,340

Mantle$415,340

Zircuit Staking$258,899

Ethereum$201,193

Zircuit$57,706

Injective Bridge$208,857

Ethereum$208,857

Derive V3 Options$172,425

Ethereum$172,425

OpenGDP Shared Security$151,745

Ethereum$151,745

Origin ARM$102,093

Ethereum$102,093

Re$75,820

Ethereum$75,820

Qualia$73,528

Hyperliquid L1$73,528

Yearn Finance$64,147

Arbitrum$64,147

HyperLend Pooled$58,389

Hyperliquid L1$58,389

GMX EVM$52,559

Arbitrum$52,559

Wildcat Protocol$47,837

Ethereum$47,837

Parallel Protocol V3$39,314

Hyperliquid L1$39,301

Ethereum$13

INIT Capital$34,138

Mantle$33,139

Blast$999

SYMMIO$32,977

Mantle$32,977

HypurrFi Pooled$26,936

Hyperliquid L1$26,936

Hyperdrive HL Lending$26,303

Hyperliquid L1$26,303

Camelot V3$20,256

Arbitrum$20,256

Venus Core Pool$18,111

BSC$18,034

Ethereum$77

RateX DEX$17,364

Solana$17,364

Balancer (Treasury)$12,513

Ethereum$12,513

Mantle Treasury (Treasury)$12,501

Ethereum$12,501

Swell L2 Farm$12,111

Ethereum$12,111

Manifest Trade$10,288

Solana$10,288

Hyperbeat Earn$9,531

Hyperliquid L1$9,531

Ekubo$7,717

Ethereum$7,717

HyperSwap V3$6,860

Hyperliquid L1$6,860

PancakeSwap AMM V3$6,691

BSC$5,446

Arbitrum$1,231

Ethereum$14

Tydro$6,488

Ink$6,488

Radpie$6,094

Arbitrum$6,094

Chamber (Treasury)$5,734

Ethereum$5,734

Thruster V3$5,500

Blast$5,500

KTX Perps$5,204

Mantle$5,204

Lendle Pooled Markets$5,196

Mantle$5,196

Teller$5,000

Ethereum$5,000

HX Finance$4,588

Hyperliquid L1$4,588

Ramses CL V2$4,053

Hyperliquid L1$4,053

Project X$3,623

Hyperliquid L1$3,623

HyperWave$2,926

Ethereum$2,600

Hyperliquid L1$285

Base$41

Beefy$2,909

Arbitrum$2,762

Hyperliquid L1$147

Euler V2$2,876

Ethereum$2,752

Plasma$67

Arbitrum$57

Metric V1$2,304

Ethereum$2,304

Kittenswap CL$1,924

Hyperliquid L1$1,924

Mezo Bridge$1,873

Ethereum$1,873

Apex Omni$1,658

Ethereum$979

Mantle$679

Orbit Protocol$1,234

Blast$1,234

Kumbaya$973

MegaETH$973

Gliquid$946

Hyperliquid L1$946

Fuel Bridge$893

Ethereum$893

Folks Finance (Treasury)$783

Avalanche$783

Corn Kernels$775

Ethereum$775

Maverick V2$691

ZKsync Era$691

Balancer V2$687

Fraxtal$533

Arbitrum$154

zkLink Nova$653

Ethereum$653

Latch$617

Ethereum$617

Contango V2$603

Ethereum$396

Arbitrum$207

Splice Finance$531

Mode$531

Uniswap V2$515

BSC$515

Lendle Isolated Markets$491

Mantle$491

Curve LlamaLend$414

Ethereum$414

Rumpel Labs$338

Ethereum$338

Omega$299

Mantle$299

Fraxlend$278

Ethereum$278

SushiSwap V3$277

Arbitrum$248

BSC$29

Meteora DAMM V1$263

Solana$263

Meteora vaults$263

Solana$263

Aurelius$250

Mantle$250

Velodrome V2$226

Fraxtal$215

Mode$11

Lista DEX$211

Ethereum$211

Stargate Finance (Treasury)$205

Ethereum$205

Fraxtal$178

Ethereum$178

PancakeSwap Infinity$175

BSC$175

Cypher V4$170

Ethereum$170

PulseChain Bridge$147

Ethereum$147

Folks Finance xChain$146

Avalanche$146

Native Credit Pool$145

Ethereum$145

Ambient$137

Scroll$137

Ultrasolid V3$120

Hyperliquid L1$120

SpringX$116

Plasma$116

Aero Slipstream$113

Base$77

Ethereum$36

BEX$89

Berachain$89

Ring Few$84

Blast$84

Cega V2$75

Ethereum$75

Timeswap V2$73

Hyperliquid L1$73

Radiant V2$70

Ethereum$70

Laminar$62

Hyperliquid L1$62

Royco V1$61

Ethereum$61

Hybra V3$55

Hyperliquid L1$55

SuperHedge$54

Ethereum$54

Supernova CL$50

Ethereum$50

Velkonix$50

MegaETH$50

Poolshark$50

Mode$50

Lista Lending$42

BSC$42

Ocelex V2$41

Zircuit$41

Nile CL$40

Linea$40

LayerBank$30

Scroll$30

deBridge$29

Ethereum$15

Arbitrum$14

Ionex$26

Plasma$26

Velodrome V3$26

Ink$26

edgeX (Treasury)$23

Ethereum$23

Tokenlon AMM$22

Ethereum$22

NEAR Intents$18

Ethereum$18

ShapeShift (Treasury)$14

Ethereum$14

Kittenswap Algebra$14

Hyperliquid L1$14

Aerodrome V1$12

Base$12

Railgun$10

Ethereum$10

Net Flows 7d

Net Flows 30d

USDE Price$1

Chains27

Native Yield4.94%

Token properties

CategoryNon-RWA Stablecoins

Asset ClassSynthetic Stable

TypeAsset

RWA ClassificationRWA

Access ModelPermissionless

Parent PlatformEthena

Classification

KYC to Mint or RedeemIndicates whether minting or redeeming the token through the issuer or primary market requires KYC/AML verification (KYC/KYB/onboarding)

TransferableIndicates whether the token can be transferred freely between on chain addresses

Self CustodyIndicates whether the token can be held in a user controlled wallet

AttestationsIndicates whether the issuer provides periodic attestations or assurance reports regarding reserves or backing

Asset information

IssuerEthena Labs, S.A.

Registry InformationEthena Labs, S.A. – Portuguese company limited by shares (sociedade anónima), legal address Rua Presidente Arriaga nº 54, 4º, 1200-773 Lisboa, Portugal, registration authority entity ID 517591111, Legal Entity Identifier (LEI) 894500K29XZNTAWSC539.

Sourcehttps://www.lei-lookup.com/record/894500K29XZNTAWSC539/

Website X/Twitter Ethena USDe Binance CEX OKX Bybit MEXC KuCoin Bitget Gate Bitfinex Bitmex Crypto-com Deribit Gemini HTX BingX Phemex Ourbit BitMart LinkedIn Docs GitHub Telegram

Attestations

Date of Last Attestation:2025-10-26

Attestation Frequency:Monthly (custodian attestations); Weekly (PoR from Jan 2026)

Notes

USDe is a synthetic dollar asset designed to target price stability through collateral plus hedged positioning in derivatives markets. Its stability and yield dynamics are tied to hedge performance and the costs and returns available in perpetual and futures markets, creating a return profile that can differ meaningfully from reserve-backed cash-management products.

Native Yield

4.94%

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Historical APY from Ethena Labs, S.A.

DeFi Yield Opportunities (71)

Pool	Reference	Protocol
1 aPlaUSDeAave Plasma USDe	USDe	Aave V3	$637.32m	0.28%	Stable 88
2 reUSDRe Protocol Deposit Token	reUSD	Re	$339.1m	6.88%	Stable 98	894
3 aEthUSDeAave Ethereum USDe	USDe	Aave V3	$264.32m	0.24%	Stable 78	1,721
4 aMonUSDeAave Monad USDe	USDe	Aave V3	$117.25m	1.02%0.02%+1.00%	Stable 97	69
5 USDeEthena Market	USDe	Kamino Lend	$51.74m	0.00%	Stable 100
6 FRAXUSDeFRAXUSDe	FRAX-USDe	Curve DEX	$34.04m	2.90%<0.01%+2.89%	Stable 93	77
7 FRAXUSDeFRAXUSDe	FRAX-USDe	Convex Finance	$33.93m	4.17%0.01%+4.16%	Stable 93	77
8 aManUSDeAave Mantle USDe	USDe	Aave V3	$32.77m	<0.01%	Mixed 50
9 reUSDeRe Protocol reUSDe	reUSDe	Re	$30.06m	11.83%	Stable 99	552
10 USDePlus	USDe	Aave V4	$27.06m	4.80%<0.01%+4.80%	Stable 73	0