USDe
Ethena USDe
- Non-yield-bearing design
- 29 tracked chain deployments
- Chaos Labs / Chainlink / Harris & Trotter / LlamaRisk reserve attestations
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Ethena USDe and Ethena Staked USDe are two widely followed stablecoins. Both target the US Dollar. They share a cefi-dependent governance model. Both use crypto-backed designs. USDe is not yield-bearing, while sUSDe is yield-bearing. This static comparison highlights structural differences before you open the live Pharos compare tool.
Comparison Brief
USDe has 29 tracked deployments, while sUSDe has 24. Both sit in the crypto cohort. Use the rows below to separate headline market share from the mechanics that matter during stress: redemption path, reserve signal, blacklistability, and venue depth.
USDe
sUSDe
Static structural differences between the two stablecoins before you switch to the live comparison tool.
| Metric | USDe | sUSDe |
|---|---|---|
| Governance | CeFi-Dependent | CeFi-Dependent |
| Backing | Crypto | Crypto |
| Peg target | US Dollar | US Dollar |
| Yield-bearing | No | Yes |
| Governance + backing lens | CeFi-Dependent / Crypto | CeFi-Dependent / Crypto |
| Blacklist controls | Admin can dilute holders via unbounded mint | Issuer blacklist controls |
| Reserve signal | Real-time reserve reporting | USDe staking vault shares |
| Tracked chains | 29 deployments | 24 deployments |
Source: checked-in StablecoinMeta profile fields in the current Pharos build. Static deployment counts and reserve-provider labels are structural context; open the live detail and compare tools for current market, peg, liquidity, and reserve freshness.
Ethena USDe (USDe) and Ethena Staked USDe (sUSDe) share the same broad governance and backing labels in Pharos, so the useful comparison is in the live details: peg history, liquidity depth, reserve signal, issuer controls, chain deployments, and dependency exposure.
Safety is not decided by ticker alone. Use this static page for the structural comparison, then open the live USDe vs sUSDe compare tool and Safety Scores page for current peg behavior, liquidity / exit capacity, dependency risk, resilience, and decentralization scoring.
This page gives crawlers and readers a stable overview of the USDe vs sUSDe question while the live dashboard keeps volatile metrics fresh. It intentionally covers a capped set of high-intent comparisons instead of generating every possible stablecoin pair.