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Metric	USDE Ethena USDe	USDS USDS	YLDS YLDS Proxy score	USDT Tether
Market Cap	$4.45B	$11.11B	$509.3M	$189.44B
Peg Status	STABLE	STABLE	STABLE	STABLE
Peg Deviation	0.106%	0.021%	0.039%	0.094%
Issuer	Ethena Labs	Sky (formerly MakerDAO)	Unknown	Tether
Issuer Type	Algorithmic Protocol	Decentralized DAO	—	Centralized
Jurisdiction	Foreign regulated	Unregulated	Unknown	Foreign 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+56/100	≈D25/100	B71/100
Yield Eligibility	Not eligible	Not eligible	Not eligible	Not eligible
Last Updated	Today	Today	Today	Today
Decision Summary	WatchMethodology classification — not investment advice.Confidence:highExport IC memo	WatchMethodology classification — not investment advice.Confidence:highExport IC memo	AvoidMethodology classification — not investment advice.Confidence:lowExport IC memo	WatchMethodology classification — not investment advice.Confidence:highExport IC memo

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.