Side-by-side institutional comparison — canonical compliance grade, methodology verdict, and IC-memo-ready exports per asset.
| Metric | USDE Ethena USDe | GHO GHO | APXUSD apxUSD Proxy score | USDC USD Coin |
|---|---|---|---|---|
| Market Cap | $4.45B | $583.4M | $519.0M | $76.40B |
| Peg Status | STABLE | STABLE | STABLE | STABLE |
| Peg Deviation | 0.086% | 0.102% | 0.039% | 0.023% |
| Issuer | Ethena Labs | Aave DAO | Unknown | Circle |
| Issuer Type | Algorithmic Protocol | Decentralized DAO | — | Centralized |
| Jurisdiction | Foreign regulated | Unregulated | Unknown | US regulated |
| Reserve Transparency | On-Chain | On-Chain | None/Opaque | Audited Reports |
| Redemption Rights | 1:1 par · 3-5 Business Days | 1:1 par · Instant (On-Chain) | — | 1:1 par · ≤2 Business Days |
| Governance | DAO Governance | DAO Governance | — | Issuer Controlled |
| Compliance Score | C45/100 | C+58/100 | C40/100 | A92/100 |
| Yield Eligibility | Not eligible | Not eligible | Not eligible | Eligible |
| Last Updated | Today | Today | Today | Today |
| Decision Summary | WatchMethodology classification — not investment advice.Confidence:high | WatchMethodology classification — not investment advice.Confidence:high | WatchMethodology classification — not investment advice.Confidence:low | ApprovedMethodology classification — not investment advice.Confidence:high |
Verdicts are StableLens methodology classifications — Approved / Watch / Avoid / Insufficient — not investment advice. Compliance score is the canonical 6-dimension regulatory rubric (when a profile exists) or capped fallback (when not). See methodology.