Ethena USDe
Synthetic dollar backed by delta-neutral derivatives positions across BTC and ETH.
Deployments
0x4c9EDD5852cd905f086C759E8383e09bff1E68B3
0x5d3a1Ff2b6BAb83b63cd9AD0787074081a52ef34
USDe — not yet scored
USDe is registered in the OCB pipeline. Scoring data has not yet been published for this instrument.
Read the methodology →What closes the gap — and who closes it
gap:liquidity
No redemption liquidity data available at time of scoring run.
Contract address verified on Ethereum: (primary deployment)
Score impact: Confirms onchain existence; feeds custody_verification sub-signal
Contract address verified on Arbitrum: (Arbitrum deployment)
Score impact: Confirms onchain existence; feeds custody_verification sub-signal
Top-10 holders control 10.04% of supply (after excluding protocol-controlled addresses). Concentration track: retail_facing.
Score impact: Top-10 at 10.04% feeds holder_concentration sub-signal
Resolved anomalies
Jun 18, 2026
→ Jun 19, 2026
Total trust score dropped 6pts (53 → 47, band: Elevated Risk)
USDe is scored across the same four dimensions as every other rated instrument — Disclosure Quality, Redemption Liquidity, Structural Trust, and Holder Concentration. Each dimension contributes up to 25 points. The dimension breakdown above shows where the score comes from; the diligence trail shows every verified fact behind it.
Read the full methodology →