Overview
Ethena USDe(USDE)
Token Price$1
24h Change-0.00077%
All Time HighDec 9, 2025$1.03
All Time LowOct 3, 2024$0.93
Key Metrics
$4.905b
$4.904b
4.906b USDE
Volume 24h$1.43m
CEX$1.33m
Spot$1.33m
USD Perp$5,827
COIN Perp$0
DEX$91,186
Spot$89,187
USD Perp$1,999
COIN Perp$0
Open Interest$3.16m
CEX$623,895
USD Perp$623,895
COIN PerpN/A
DEX$2.54m
USD Perp$2.54m
COIN PerpN/A
Token Information
Risks
How much debt can be issued against USDE as collateral across lending protocols.
Maximum possible exposure to USDE
$1.087b
$204.32m (max additional borrows against USDE) + $882.97m (bad debt if USDE was hacked now)
Aave V3
$635.05m at-risk exposure = $501.8m bad debt if hacked + $133.25m additional borrowable against USDE
Morpho V1
$423.17m at-risk exposure = $381.15m bad debt if hacked + $42.03m additional borrowable against USDE
Fluid
$23.27m at-risk exposure = $917.06 bad debt if hacked + $23.27m additional borrowable against USDE
Tydro
$4.48m at-risk exposure = -- bad debt if hacked + $4.48m additional borrowable against USDE
Venus Core Pool
$673,993 at-risk exposure = $113.63 bad debt if hacked + $673,880 additional borrowable against USDE
Euler V2
$640,587 at-risk exposure = $20,487 bad debt if hacked + $620,100 additional borrowable against USDE
Lista Lending
$46 at-risk exposure = $0 bad debt if hacked + $46 additional borrowable against USDE
Methodology and limitations
Showing collateral exposure for USDE on onchain. 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.
- 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.
Markets
Token Usage
An is required to view token usage.
Yields
Showing 10 of 74 pools
Borrow
Showing 10 of 72 routes