USDe

• Ethereum

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• Asset Type: ERC-20

• Market Cap: $2.6B
• Fully Diluted Valluation: $2.6B
• FDV / MC: 1
• Ranking inside Exponential (among stables): #4
• Circulating Supply: 2,592,592,462
• Total Supply: 2,592,592,462
• Volume (24H): $53M
• ATH: $1.03 (12/20/2023)
• ATL: $0.97 (04/13/2024)

USDe is a mid-cap, fully collateralized asset. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of Ethena, a protocol rated as Watch out.

USDe is a stablecoin that trades within 50bps of its peg to USD, which makes it a less volatile store of value.

Ethena

USDe does not have a supply schedule. USDe is exposed to death spiral risk as its price depends on another asset, thus creating negative feedback loops. USDe on Ethereum is collateralized with stETH deposits held with custodians.