Overview
Ethena USDe(USDE)
Token Price$1
24h Change-0.00017%
All Time HighDec 9, 2025$1.03
All Time LowOct 3, 2024$0.93
Key Metrics
$4.802b
$4.802b
4.805b USDE
Volume 24h$9.01m
CEX$8.27m
Spot$8.25m
USD Perp$13,168
COIN Perp$0
DEX$741,937
Spot$11,484
USD Perp$730,453
COIN Perp$0
Open Interest$3.08m
CEX$611,745
USD Perp$611,745
COIN PerpN/A
DEX$2.47m
USD Perp$2.47m
COIN PerpN/A
Token Information
Risks
How much debt can be issued against USDE as collateral across lending protocols.
Maximum possible exposure to USDE
$968.37m
$254.38m (max additional borrows against USDE) + $713.98m (bad debt if USDE was hacked now)
Aave V3
$495.36m at-risk exposure = $315.52m bad debt if hacked + $179.84m additional borrowable against USDE
Morpho V1
$441.38m at-risk exposure = $398.45m bad debt if hacked + $42.92m additional borrowable against USDE
Fluid
$25.86m at-risk exposure = $72.98 bad debt if hacked + $25.86m additional borrowable against USDE
Tydro
$4.47m at-risk exposure = -- bad debt if hacked + $4.47m additional borrowable against USDE
Venus Core Pool
$673,753 at-risk exposure = $105.13 bad debt if hacked + $673,648 additional borrowable against USDE
Euler V2
$611,204 at-risk exposure = $5,860 bad debt if hacked + $605,344 additional borrowable against USDE
Lista Lending
$45.99 at-risk exposure = $0 bad debt if hacked + $45.99 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 75 pools
Borrow
Showing 10 of 72 routes