Side-by-side institutional comparison — canonical compliance grade, methodology verdict, and IC-memo-ready exports per asset.
| Metric | USDE Ethena USDe | USD0 Usual USD | USDY Ondo US Dollar Yield | APXUSD apxUSD Proxy score |
|---|---|---|---|---|
| Market Cap | $4.45B | $554.3M | $2.14B | $519.0M |
| Peg Status | STABLE | STABLE | UNKNOWN | STABLE |
| Peg Deviation | 0.089% | 0.156% | — | 0.041% |
| Issuer | Ethena Labs | Usual Protocol | Ondo Finance | Unknown |
| Issuer Type | Algorithmic Protocol | Algorithmic Protocol | Centralized | — |
| Jurisdiction | Foreign regulated | EU regulated | Foreign regulated | Unknown |
| Reserve Transparency | On-Chain | On-Chain | Audited Reports | None/Opaque |
| Redemption Rights | 1:1 par · 3-5 Business Days | 1:1 par · ≤2 Business Days | 1:1 par · 3-5 Business Days | — |
| Governance | DAO Governance | DAO Governance | Issuer Controlled | — |
| Compliance Score | C45/100 | B-61/100 | B-64/100 | C40/100 |
| Yield Eligibility | Not eligible | Not eligible | Not eligible | Not 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 | WatchMethodology classification — not investment advice.Confidence:low |
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.