Ethena Staked USDe
SUSDEUm token de staking líquido de Ethena USDe.
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Sobre Ethena Staked USDe
Análise de 2 de nov. de 2026Em inglês Tradução pendente: esta análise é apresentada em inglês.
Ethena Staked USDe is the yield-accruing ERC-4626 vault token for the Ethena synthetic dollar protocol. Users deposit USDe into the staking contract and receive sUSDe, which rises in exchange value rather than rebasing wallet balances.
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Yield comes from delta-neutral short perpetual futures funding rates combined with Ethereum staking rewards and liquid stablecoin reserves (USDT, USDC, PYUSD, and USDtb). Following an $8 billion redemption wave after the October 2025 depeg event, protocol total value locked stabilized near $6.5 billion, with roughly 65% of backing shifted into liquid stablecoins.
Off-exchange settlement custody runs across Kraken, Anchorage Digital, and Zodia with monthly attestations and weekly Proof of Reserves reports. Cumulative protocol revenue has surpassed $1.2 billion, including $79 million over a 90-day window.