About Ethena USDe (USDE)

Ethena USDe is a delta-neutral synthetic dollar stablecoin on Ethereum. It aims to track ~$1 by holding spot crypto collateral (plus some liquid stables) while running offsetting short futures/perps hedges, with minting and redemption managed by the protocol.

Ethena USDe currently has a price of $0.999806, which is 0.0194% away from its peg to USD. It has a market capitalization of $5.92B, which has changed by -6.53% over the past 30 days.

Ethena USDe is issued by Ethena Labs. Ethena Labs created USDe, a delta-neutral stablecoin using a hedging strategy. Founded in 2023, it quickly grew to become one of the largest DeFi stablecoins.