↑Ethena August 2025 Governance Update
BNB approved as an eligible backing asset under the new Risk Committee framework, meeting thresholds for open interest, liquidity, funding rates, and maturity to support USDe's perp hedging collateral.
24h Change+0.26%
All Time HighOct 13, 2025$1,370
All Time LowOct 19, 2017$0.04
Market Cap$77.9b
Fully Diluted Valuation$115.591b
Circ. Supply134.78m BNB
Max Supply200m BNB
Outstanding FDV$78.322b
CEX Volume$574.84m
DEX Volume$492.34m
Nov 12, 2024$10m
How much debt can be issued against BNB as collateral across lending protocols.
Maximum possible exposure to BNB
$855.23m
$831.88m (max additional borrows against BNB) + $23.35m (bad debt if BNB was hacked now)
Venus Core Pool
$831.9m at-risk exposure = $22.95m bad debt if hacked + $808.95m additional borrowable against BNB
Aave V3
$18.58m at-risk exposure = -- bad debt if hacked + $18.58m additional borrowable against BNB
Lista Lending
$2.91m at-risk exposure = $370,170 bad debt if hacked + $2.54m additional borrowable against BNB
Venus Flux
$1.84m at-risk exposure = $33,893 bad debt if hacked + $1.8m additional borrowable against BNB
Showing collateral exposure for BNB on BSC. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for BNB as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.

Protocol | Chain | |||
|---|---|---|---|---|
BNB0x0000000000000000000000000000000000000000 | $808.95m | $22.95m | ||
BNB0x0000000000000000000000000000000000000000 | $18.58m | — | ||
BNB0x0000000000000000000000000000000000000000 | $2.54m | $370,170 | ||
BNB0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee | $1.8m | $33,893 |
Risk-management actions published about BNB by tracked risk managers and governance contributors, newest first.
BNB approved as an eligible backing asset under the new Risk Committee framework, meeting thresholds for open interest, liquidity, funding rates, and maturity to support USDe's perp hedging collateral.
Risk analysis provides initial parameter recommendations for BNB, supporting its integration into Aave V3 BNB with conservative settings to enable collateral and borrowing.
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Showing 10 of 144 pools

Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSDT-WBNB0.05% | $1.93m | 103% | 103% | 70.99% | |||||
| open in new tabMBOX-WBNB | $593,147 | 252% | 252% | 33.53% | |||||
| open in new tabASTER-WBNB0.05% | $121,975 | 200% | 200% | 74.05% | |||||
| open in new tabADA-WBNB0.3% | $103,050 | 226% | 226% | 71.35% | |||||
| open in new tabBNB-WETH1% | $81,162 | 151% | 151% | 56.22% | |||||
| open in new tabBNB-BPEG1.00% | $66,823 | 185% | 185% | 308% | |||||
| open in new tabNEAR-WBNB0.3% | $58,130 | 114% | 114% | 176% | |||||
| open in new tabPENDLE-WBNB1% | $25,786 | 110% | 110% | 92.70% | |||||
| open in new tabZEC-WBNB1% | $23,201 | 295% | 295% | 233% | |||||
| open in new tabASTER-WBNBUniswap | $14,694 | 162% | 54.76% |
Showing 10 of 190 routes

Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWBNB ➞ SOLVBTC | $156.63m | 1.41% | 1.44% | -0.03% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ WBETH | $15.34m | 1.33% | 1.44% | -0.13% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ DOGE | $5.97m | 1.44% | 1.44% | 0% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ UNI | $4.82m | 1.34% | 1.44% | -0.12% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ BTCB | $1.13m | 1.14% | 1.44% | -0.37% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ TRX | $772,833 | 1.44% | 1.44% | 0% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ AAVE | $355,759 | 0.79% | 1.44% | -0.81% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ CAKE | $66,374 | 1.23% | 1.44% | -0.26% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ SLISBNB | $32,303 | 0.71% | 1.44% | -0.91% | 80% | $14,155 | $4,580 | ||
| open in new tabWBNB ➞ USDC | $18,663 | 1.22% | 1.44% | -0.27% | 80% | $14,155 | $4,580 |