Overview
Ethena USDe(USDe)
Token Price$1
24h Change+0.017%
All Time HighDec 9, 2025$1.03
All Time LowOct 4, 2024$0.93
Key Metrics
$3.858b
$3.858b
3.859b USDe
Volume 24h$33.06m
CEX Volume$5.21m
DEX Volume$25.62m
Income Statement for Ethena USDe
| Q3 2026* | |
|---|---|
Gross Protocol Revenue | $0.11 |
Cost of Revenue | $0 |
Gross Profit | $0 |
Earnings | $0 |
Risks
How much debt can be issued against USDe as collateral across lending protocols.
Maximum possible exposure to USDe
$1.125b
$184.76m (max additional borrows against USDe) + $940.09m (bad debt if USDe was hacked now)
Aave V3
$802.13m at-risk exposure = $694.27m bad debt if hacked + $107.86m additional borrowable against USDe
Morpho V1
$273.06m at-risk exposure = $245.82m bad debt if hacked + $27.24m additional borrowable against USDe
Fluid
$24.44m at-risk exposure = $72.16 bad debt if hacked + $24.44m additional borrowable against USDe
Euler V2
$14.02m at-risk exposure = $5,754.35 bad debt if hacked + $14.01m additional borrowable against USDe
Tydro
$9.73m at-risk exposure = -- bad debt if hacked + $9.73m additional borrowable against USDe
Venus Core Pool
$1.47m at-risk exposure = $80.66 bad debt if hacked + $1.47m additional borrowable against USDe
Lista Lending
$65.04 at-risk exposure = $0 bad debt if hacked + $65.04 additional borrowable against USDe
Methodology and limitations
Showing collateral exposure for USDe on onchain. Max Borrowableuses 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.
- These metrics describe lending exposure only and are not a full protocol risk rating.
- This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
- Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.
- Bad debt at $0 is a lower bound when some contributing markets return null for zero-price bad debt; null rows are excluded instead of being treated as zero.
Show exposure details
Each row is one protocol-chain exposure for USDe as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Token Usage
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Liquidations
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Yields
Showing 10 of 30 pools
Borrow
Showing 10 of 69 routes