↑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-0.17%
All Time HighOct 13, 2025$1,370
All Time LowOct 19, 2017$0.04
Market Cap$74.233b
Fully Diluted Valuation$110.152b
Circ. Supply134.78m BNB
Max Supply200m BNB
Outstanding FDV$74.643b
CEX Volume$345.57m
DEX Volume$381.26m
Nov 12, 2024$10m
How much debt can be issued against BNB as collateral across lending protocols.
Maximum possible exposure to BNB
$859.56m
$834.48m (max additional borrows against BNB) + $25.08m (bad debt if BNB was hacked now)
Venus Core Pool
$839.89m at-risk exposure = $25.01m bad debt if hacked + $814.88m additional borrowable against BNB
Aave V3
$17.55m at-risk exposure = -- bad debt if hacked + $17.55m additional borrowable against BNB
Venus Flux
$1.81m at-risk exposure = $52,832 bad debt if hacked + $1.75m additional borrowable against BNB
Lista Lending
$314,667 at-risk exposure = $14,852 bad debt if hacked + $299,815 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 | $814.88m | $25.01m | ||
BNB0x0000000000000000000000000000000000000000 | $17.55m | — | ||
BNB0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee | $1.75m | $52,832 | ||
BNB0x0000000000000000000000000000000000000000 | $299,815 | $14,852 |
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 137 pools

Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSDT-WBNB0.05% | $3.01m | 40.39% | 40.39% | 87.44% | |||||
| open in new tabSOL-WBNB0.3% | $334,335 | 86.33% | 86.33% | 74.17% | |||||
| open in new tabBNB-USDC | 🪂 | $107,854 | 118% | 118% | 57.67% | ||||
| open in new tabFET-WBNB0.3% | $73,470 | 63.29% | 63.29% | 125% | |||||
| open in new tabNEAR-WBNB0.3% | $57,365 | 31.67% | 31.67% | 135% | |||||
| open in new tabSOL-BNB | $53,417 | 43.23% | 43.23% | 51.01% | |||||
| open in new tabZEC-WBNB1% | $46,594 | 94.90% | 94.90% | 302% | |||||
| open in new tabWBNB-UNI0.3% | $23,496 | 43.51% | 43.51% | 61.39% | |||||
| open in new tabPENDLE-WBNB1% | $22,416 | 42.10% | 42.10% | 70.63% | |||||
| open in new tabBROCCOLI-WBNBPancakeswap | $15,817 | 78.80% | 2907% |
Showing 10 of 144 routes

Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWBNB ➞ SOLVBTC | $151.59m | 0.18% | 0.18% | -0.01% | 70% | $1.51m | $139,894 | ||
| open in new tabWBNB ➞ SOLVBTC | $151.59m | 0.16% | 0.17% | -0.01% | 80% | $314.2m | $87.33m | ||
| open in new tabWBNB ➞ SOLVBTC | $151.59m | 0.16% | 0.17% | -0.01% | 80% | $56.83m | $10.04m | ||
| open in new tabWBNB ➞ UNI | $5.73m | 0.10% | 0.18% | -0.12% | 70% | $1.51m | $139,894 | ||
| open in new tabWBNB ➞ DOGE | $5.65m | 0.18% | 0.18% | 0% | 70% | $1.51m | $139,894 | ||
| open in new tabWBNB ➞ DOGE | $5.65m | 0.17% | 0.17% | 0% | 80% | $314.2m | $87.33m | ||
| open in new tabWBNB ➞ DOGE | $5.65m | 0.17% | 0.17% | 0% | 80% | $56.83m | $10.04m | ||
| open in new tabWBNB ➞ TRX | $773,142 | 0.18% | 0.18% | 0% | 70% | $1.51m | $139,894 | ||
| open in new tabWBNB ➞ TRX | $773,142 | 0.17% | 0.17% | 0% | 80% | $314.2m | $87.33m | ||
| open in new tabWBNB ➞ TRX | $773,142 | 0.17% | 0.17% | 0% | 80% | $56.83m | $10.04m |