---
title: "Ebisu ebUSD (ebUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/ebusd-ebisu/"
description: "Build-time stablecoin profile for Ebisu ebUSD (ebUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Ebisu ebUSD (ebUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Ebisu's ebUSD is a Liquity V2-style {{term:cdp}}CDP{{/term}} with one of the most eclectic collateral baskets on the dashboard: roughly 44% sUSDe (Ethena's {{term:yield-bearing}}yield-bearing{{/term}} synthetic dollar), 24% WBTC, 24% LBTC, 6% stcUSD, and 3% weETH, mixing {{term:basis-trade}}basis-trade{{/term}} derivatives, wrapped and restaked Bitcoin, and ETH LSTs into a single {{term:overcollateralization}}overcollateralized{{/term}} position. The architecture is sound and earns a respectable resilience grade, but at micro-cap scale ebUSD is too small to attract meaningful arbitrage, so the redemption backstop is the only structural floor and the thin secondary market can't close gaps efficiently. That shows up in the record: hundreds of brief below-peg blips and an overall C grade, with the asset sitting toward the watchful end of Pharos's stress scale despite the exotic backing. Deployed natively on both Ethereum and Plasma with user-set interest rates, ebUSD is an experiment in mixed alt-LST-and-bridged-collateral CDP design, interesting plumbing on a scale too small to truly stress-test.

## Collateral

Overcollateralized CDP markets on Ethereum and Plasma using weETH, sUSDe, WBTC, LBTC, and stcUSD; the live adapter reports current per-branch shares, with WETH and XPL configured as additional dormant branches

## Peg Mechanism

Overcollateralized CDP with Liquity v2-style user-set interest rates and redemptions; production deployments mint natively on both Ethereum and Plasma

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x09fd37d9aa613789c517e76df1c53aece2b60df4` | 18 |
| plasma | `0xef7b1a03e0897c33b63159e38d779e3970c0e2fc` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/ebusd-ebisu.