Ember Earn (eEARN) stablecoin analytics
Answer First
What is Ember Earn (eEARN)?
eEARN is Ember's yield-bearing USDC vault token on Ethereum, with Royco Dawn tranche markets wrapping its vault shares. The static profile records its USDC-denominated NAV accounting mechanism as: ERC-4626-style shares redeem against the vault's USDC asset at the current share price; the token is a NAV wrapper over USDC rather than a fiat-issuer stablecoin
Is eEARN safe?
eEARN holds a C- Safety Score grade (51/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Ember Earn uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Ember Earn (eEARN) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg USDC-denominated NAV.
Variant Relationship
Ember Earn (eEARN) is modeled as a strategy vault variant of USD Coin (USDC). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Sep 7, 2026
eEARN is Ember's yield-bearing USDC vault share on Ethereum, an ERC-4626-style token whose value follows the vault's USDC share price rather than a flat par claim; Royco Dawn wraps the same token into senior and junior tranche vaults. The card behind the N/A overall grade splits sharply. Backing and economic control lead the card: on-chain reads confirm the vault's only asset is USDC, the pause flags are off, and withdrawal fees are zero. The exit pillar is the weakest of the three by a wide margin, because...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- USDC deposited into Ember Earn's Ethereum vault token; Royco Dawn wraps eEARN into senior and junior tranche vaults for structured yield exposure
- Peg Mechanism
- ERC-4626-style shares redeem against the vault's USDC asset at the current share price; the token is a NAV wrapper over USDC rather than a fiat-issuer stablecoin
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety eearn-ember
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
eEARN quick answers
What is Ember Earn (eEARN)?
eEARN is Ember's yield-bearing USDC vault token on Ethereum, with Royco Dawn tranche markets wrapping its vault shares. The static profile records its USDC-denominated NAV accounting mechanism as: ERC-4626-style shares redeem against the vault's USDC asset at the current share price; the token is a NAV wrapper over USDC rather than a fiat-issuer stablecoin
Is eEARN safe?
eEARN holds a C- Safety Score grade (51/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Ember Earn uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs eEARN?
Pharos classifies eEARN backing as Crypto-Collateralized. Collateral, per the static profile: USDC deposited into Ember Earn's Ethereum vault token; Royco Dawn wraps eEARN into senior and junior tranche vaults for structured yield exposure Reserve evidence: live reserve feed configured.
Can eEARN be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for eEARN, when applicable, appear in the dossier below.
