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Stablecoin · Ethereum
Ethena USDe (USDe)
Ethena USDe (USDe) is a stablecoin token on Ethereum. Synthetic dollar from Ethena backed by delta-neutral ETH and BTC hedges.
Last reviewed June 2026
Synthetic dollar from Ethena backed by delta-neutral ETH and BTC hedges.
Read full Ethena USDe protocol guide →
USDe: frequently asked questions
What is USDe?
Ethena USDe (USDe) is a stablecoin token on Ethereum. Synthetic dollar from Ethena backed by delta-neutral ETH and BTC hedges.
What type of token is USDe?
USDe is classified as a Stablecoin token primarily used on Ethereum. Synthetic dollar from Ethena backed by delta-neutral ETH and BTC hedges.
Where can I research Ethena USDe further?
Read our full protocol guide at decentralized-finance.io/article/ethena-usde/ for mechanics, risks, and use cases.