---
title: "Ethena Staked USDe (sUSDe) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/susde-ethena/"
description: "Build-time stablecoin profile for Ethena Staked USDe (sUSDe). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Ethena Staked USDe (sUSDe)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

the yield-bearing wrapper over USDe that capitalizes basis-trade income into a rising share price, with cooldown-gated exits. sUSDe is the {{term:yield-bearing}}yield-bearing{{/term}} wrapper over USDe. It keeps the same core reserve and {{term:custody}}custody{{/term}} stack as USDe, but packages {{term:basis-trade}}basis trade{{/term}} and {{term:funding-rate}}funding rate{{/term}} income from {{term:delta-neutral}}delta-neutral{{/term}} {{term:perpetual}}perpetual{{/term}} hedges into a rising exchange rate instead of leaving the holder in the base token. The important difference is exit shape: unstaking burns sUSDe immediately, but withdrawing USDe still runs through Ethena's cooldown flow and staking-contract restrictions, so exits are not instant cash.

## 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

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x9d39a5de30e57443bff2a8307a4256c8797a3497` | 18 |
| plasma | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| linea | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| fraxtal | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| hyperevm | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| berachain | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| zircuit | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| metis | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| xlayer | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| base | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| bsc | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| morph-l2 | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| scroll | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| kava | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| swellchain | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| mode | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| mantle | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| arbitrum | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| manta | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| blast | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| optimism | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| ton | `EQDQ5UUyPHrLcQJlPAczd_fjxn8SLrlNQwolBznxCdSlfQwr` | 6 |
| solana | `Eh6XEPhSwoLv5wFApukmnaVSHQ6sAnoD9BmgmwQoN2sN` | 9 |
| zksync | `0xad17da2f6ac76746ef261e835c50b2651ce36da8` | 18 |
| avalanche | `0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2` | 18 |
| aptos | `0xb30a694a344edee467d9f82330bbe7c3b89f440a1ecd2da1f3bca266560fce69` | 6 |

## Live Data

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