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ProtocolsEthena USDe

Information

TVL

Yields

Fees and Revenue

Ethena USDe (ENA)

Total Value Locked

$8.467b

Chain Breakdown
Ethereum	$8.467b

	$20.46m
	$333.67m
	$774,712

Protocol Information

Ethena is a synthetic dollar protocol built on Ethereum

Category:Basis Trading

Audits

:

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Development Activity

(updated at 12/06/25)

Weekly commits: 22
Monthly commits: 22
Weekly developers: 5
Monthly developers: 5

Last commit: 5 months ago (2025-06-12)

Token Information

Address:0x57e114...1e6061

View on Etherscan View on Blockscout

Methodology

Fees: Staking rewards + yield distribution + mint fees + extra fees

Revenue: Mint Fees and staking rewards portion to Reserve Fund

TVL code Fees and Revenue code

Competitors

Falcon Finance ($2.002b)BounceBit CeDeFi Yield ($482.54m)Superstate USCC ($481.6m)BitFi Basis ($357.74m)Resolv ($330.45m)Solv Basis Trading ($294.52m)Solstice USX ($275.21m)ZEROBASE CeDeFi ($219.8m)Aster USDF ($165.82m)Avant avUSD ($77.49m)