sUSDe
staked USDe
Ethena's yield-bearing wrapper of [[usde]] — share price grows with funding-rate + LST yield, net of fees.
sUSDe is a top-3 stablecoin by yield-bearing supply. Yield is variable (driven by funding rates) with material drawdowns possible in negative-funding regimes. Subject to a redemption-cool-down on direct unwind; secondary-market exit is via DEX or Pendle PT.
See on StableLens
/stablecoins/sUSDe — live data, risk grade, and methodology citation.
Related terms
- USDeEthena's synthetic dollar — collateralised by LSTs / LRTs hedged with short ETH perps.
- EthenaThe issuer of [[usde]] (Synthetic Dollar) and [[susde]] (staked USDe) — a delta-neutral stablecoin built on perp funding.
- Basis tradeLong spot + short perpetual (or futures) to harvest the funding-rate differential, structurally close to delta-neutral.
- PendleA yield-tokenisation protocol that splits yield-bearing tokens into Principal (PT) and Yield (YT) tokens with a fixed maturity.