Ethena Staked USDe (sUSDe) stablecoin analytics
sUSDe is the yield-bearing wrapper of USDe; its value versus USDe rises as basis-trade yield accrues, with USDe-tier delta-neutral risk.
Static Profile
Static stablecoin profile
Ethena Staked USDe (sUSDe) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
Variant Relationship
Ethena Staked USDe (sUSDe) is modeled as a savings variant of Ethena USDe (USDe). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Jun 12, 2026
sUSDe is the yield wrapper over USDe, converting Ethena staking rewards into a rising exchange rate rather than a separate payout. Economically it inherits the same USDe reserve and custody stack: liquid stablecoin backing, delta-neutral BTC and ETH/LST hedges, off-exchange...
AI summary · drafted by gpt-5-codex · reviewed by Codex data review on Jun 12, 2026 · facts as of Jun 12, 2026
- Collateral
- USDe deposited into Ethena's ERC-4626 staking contract; the wrapper remains fully backed by USDe while additional USDe rewards accrue inside the vault
- Peg Mechanism
- Stake USDe to receive sUSDe; the exchange rate versus USDe rises as rewards are transferred into the staking contract, while unstaking burns sUSDe immediately and releases USDe after Ethena's documented 7-day cooldown
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Snippet Answer
Is sUSDe safe?
Pharos does not mark sUSDe as absolutely safe. Static metadata says Ethena Staked USDe 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.
Next Actions
Exact bot target: /subscribe dews,depeg,safety susde-ethena
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 Jun 12, 2026.
sUSDe quick answers
What is Ethena Staked USDe (sUSDe)?
sUSDe is the yield-bearing wrapper of USDe; its value versus USDe rises as basis-trade yield accrues, with USDe-tier delta-neutral risk. The static profile records its US Dollar peg mechanism as: Stake USDe to receive sUSDe; the exchange rate versus USDe rises as rewards are transferred into the staking contract, while unstaking burns sUSDe immediately and releases USDe after Ethena's documented 7-day cooldown
Is sUSDe safe?
Pharos does not mark sUSDe as absolutely safe. Static metadata says Ethena Staked USDe 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 sUSDe?
Pharos classifies sUSDe backing as Crypto-Collateralized. Collateral, per the static profile: USDe deposited into Ethena's ERC-4626 staking contract; the wrapper remains fully backed by USDe while additional USDe rewards accrue inside the vault Reserve evidence: live reserve feed configured.
Can sUSDe 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 sUSDe, when applicable, appear in the dossier below.