Staked USDe (sUSDe) is a yield-bearing stablecoin by Ethena, offering returns from staking rewards and funding rates.

Which blockchain networks support sUSDe?

See the supported networks section above.

What is the sUSDe market cap?

The sUSDe market capitalization is approximately $3.4B as of 13 April 2026.

Staked USDe (sUSDe) by Ethena

Key Data

Backing

Delta-neutral hedging strategy with cryptocurrencies and perpetual futures contracts.

Auditor

HT Digital, Chaos Labs, LlamaRisk, Chainlink

Reserve Reporting

Weekly PoR attestations

Redemption

Users can redeem USDe for its underlying assets, subject to protocol terms and conditions.

Peg Currency

USD

Yield-Bearing

Yes

Launched

2024

Use Cases

Yield

Overview

Staked USDe (sUSDe) is a yield-bearing version of Ethena's USDe stablecoin, designed to provide users with returns generated from staking rewards and funding rates.

How It Works

sUSDe maintains its peg through a delta-neutral hedging strategy, involving long positions in cryptocurrencies and short positions in perpetual futures contracts.

Reserve Backing

Ethena employs multiple independent verifiers for its Proof of Reserves (PoR) attestations, ensuring transparency and trust.

Supported Networks

sUSDe is available across multiple blockchain networks, enhancing its accessibility and utility within the DeFi ecosystem.