Staked USDe (sUSDe) is a yield-bearing stablecoin by Ethena, offering returns from staking rewards and funding rates.
| Symbol | sUSDe |
| Peg | USD |
| Backing | Crypto backed |
| Status | Active |
| Launched | 2024 |
| Networks | L1 EVM Ethereum unverified |
| Specifications | 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. |
| Use cases | Yield |
| Mint and redeem | sUSDe is created by staking USDe in Ethena's StakedUSDe ERC-4626 smart contract. A permitted user transfers USDe to the contract and receives sUSDe at the prevailing USDe-per-sUSDe exchange rate; protocol rewards are subsequently added to the staking contract in USDe, causing each sUSDe token's claim on USDe to increase over time. To exit through the protocol, a holder unstakes sUSDe, the sUSDe is burned, and after the current documented seven-day cooldown the holder withdraws the corresponding amount of USDe at the applicable contract exchange rate. Ethena states there is no minimum staking period; the cited staking documentation does not specify a minimum token amount. This is redemption into USDe, not direct fiat redemption. Ethena restricts staking to permitted jurisdictions, and acquisition of sUSDe through Ethena is not offered to persons habitually resident or registered in the EU/EEA; the staking contract also contains address-restriction controls for specified restricted or sanctioned users. unverified |
| Chain | Address |
|---|---|
| Aptos | 0xb30a694a344edee467d9f82330bbe7c3b89f440a1ecd2da1f3bca266560fce69 |
| Arbitrum One | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Avalanche | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Base | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Berachain | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Binance Smart Chain | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Blast | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Ethereum | 0x9d39a5de30e57443bff2a8307a4256c8797a3497 |
| Fraxtal | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| HyperEVM | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Kava | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Linea | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Manta Pacific | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Mantle | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Metis Andromeda | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Mode | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Monad | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Morph L2 | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Optimistic Ethereum | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Plasma | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Scroll | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Solana | Eh6XEPhSwoLv5wFApukmnaVSHQ6sAnoD9BmgmwQoN2sN |
| Swellchain | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| The Open Network | EQDQ5UUyPHrLcQJlPAczd_fjxn8SLrlNQwolBznxCdSlfQwr |
| X Layer | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| Zircuit | 0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2 |
| zkSync | 0xad17da2f6ac76746ef261e835c50b2651ce36da8 |
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. sUSDe maintains its peg through a delta-neutral hedging strategy, involving long positions in cryptocurrencies and short positions in perpetual futures contracts. Ethena employs multiple independent verifiers for its Proof of Reserves (PoR) attestations, ensuring transparency and trust.