What is Ethena USDe?
Ethena is a DeFi protocol that disrupts the stablecoin scene with its synthetic dollar, USDe. Unlike traditional stablecoins like Tether and USDC that are backed by real dollars or assets held by centralized custodians, Ethena uses a clever combination of crypto asset backing and financial instruments to maintain a peg to the U.S. dollar. The USDe token is created with the help of the Ethena protocol, built on Ethereum.
Ethena USDe goals
The purpose of Ethena USDe is to transform the space, particularly through its approach to hedging against the volatility inherent in cryptocurrency markets. Ethena promises to create a stable, scalable, and censorship-resistant currency, leveraging the Ethereum network and DeFi ecosystems to provide an innovative financial instrument for the crypto space. The protocol enhances the utility and efficiency of digital currencies and contributes to Ethereum's evolution into a stable monetary asset, fostering broader adoption and capital inflow into the crypto ecosystem.
Ethena USDe fondamentals
The total supply of Ethena USDe tokens is 5812675548 USDE. The current circulating supply of USDe tokens is 500,728,124 tokens.
Marketcap
$5.805B
Total number of Ethena USDe
5812675548 USDE
Ethena USDe technology
The Ethena protocol uses a combination of crypto asset backing and financial instruments to maintain a peg to the U.S. dollar. The protocol utilizes onchain transparency and liquid staking derivatives, allowing USDe to offer a stable, scalable, and censorship-resistant currency. The USDe token is built on the Ethereum network.
Ethena USDe competitors
Ethena USDe differentiates itself from competitors through its use of delta hedging strategies and integration of Bitcoin as collateral, representing an innovative leap towards creating a stablecoin. Ethena Labs claims that the USDe stablecoin is the first stablecoin that is censorship-resistant, stable, and scalable. Ethena USDe is the fastest-growing dollar-denominated asset in crypto history.
Ethena USDe price history
Frequently asked questions
Ethena USDe is a synthetic dollar stablecoin created by the Ethena protocol, built on Ethereum.
Ethena USDe uses a combination of crypto asset backing and financial instruments to maintain a peg to the U.S. dollar.
Ethena USDe can be used for minting, redemption, staking, and other operations, similar to a traditional stablecoin. Additionally, USDe enables a 'cash and carry trade' where spot assets are used as collateral to open a short position with a perpetual futures contract.
Yes, Ethena Labs claims that the USDe stablecoin is the first stablecoin that is censorship-resistant, stable, and scalable.
Unlike traditional stablecoins like Tether and USDC that are backed by real dollars or assets held by centralized custodians, Ethena uses a clever combination of crypto asset backing and financial instruments to maintain a peg to the U.S. dollar.
The current circulating supply of USDe tokens is 500,728,124 tokens.
Yes, Ethena USDe is built on the Ethereum network.
Automated strategies for crypto investors
Drakkar-Software - 15 rue des halles, 75001, Paris, France
Drakkar-Software © 2021-2025 Copyright. All rights reserved.