Ethena Staked USDe
Peers · Yield Stablecoins
AVG 4.45% · BENCH 2.00%| TICKER | ISSUER | YIELD | vs SAV | RISK | MIN |
|---|---|---|---|---|---|
| sUSDai | usd.ai | ~6.77% | +477bp | HIGH | None |
| scrvUSD | Curve Finance | ~5.83% | +383bp | MEDIUM | None |
| sfrxUSD | Frax Finance | ~5.3% | +330bp | LOW-MEDIUM | None |
| sUSDe ◂ | Ethena Labs | ~5.0% | +300bp | MEDIUM-HIGH | None |
| USD0++ | Usual | ~4.47% | +247bp | MEDIUM | None |
| YLDS | Figure Markets | ~4% | +200bp | LOW-MEDIUM | None |
| sUSDS | Sky (MakerDAO) | ~3.8% | +180bp | LOW | None |
| sUSDf | Falcon Finance | ~3.66% | +166bp | MEDIUM-HIGH | None |
| sDAI | Sky (MakerDAO) | ~1.25% | -75bp | VERY LOW | None |
| lvlUSD | Level (Peregrine) | PRICE | — | MEDIUM-HIGH | None |
Description
ISSUER DOCSStaked synthetic dollar (USDe). Yield comes from a delta-neutral basis trade — NOT treasury-backed, and highly variable.
Buying · Q&A
3 QUESTIONSHow do I buy sUSDe?+
Stake USDe at app.ethena.fi or buy sUSDe on a DEX/CEX. The token runs on Ethereum (+L2). Minimum: None.
Where can I buy sUSDe?+
sUSDe trades on 22 exchanges and DEXs. By 24-hour volume the largest are Uniswap V4 (Ethereum) (SUSDE/USDT), Curve (Ethereum) (REUSD/SUSDE), Metric (Ethereum) (SUSDE/USDE), Curve (Ethereum) (sUSDe/SUSDE), Curve (Ethereum) (FRXUSD/SUSDE) (CoinGecko, 2026-11-11). Check that the venue serves your country before you sign up.
Do I need KYC to buy sUSDe?+
Not on the secondary market: sUSDe can be bought on a DEX without identity verification.
Where to trade
22 VENUES · 24H VOL| VENUE | PAIR | VOL | SPRD |
|---|---|---|---|
| DEXUniswap V4 (Ethereum) ↗ | SUSDE/USDT | $1.2M | 0.60% |
| DEXCurve (Ethereum) ↗ | REUSD/SUSDE | $953K | 0.60% |
| DEXMetric (Ethereum) | SUSDE/USDE | $908K | 0.60% |
| DEXCurve (Ethereum) ↗ | sUSDe/SUSDE | $457K | 0.60% |
| DEXCurve (Ethereum) ↗ | FRXUSD/SUSDE | $138K | 0.60% |
| DEXFluid (Ethereum) | GHO/SUSDE | $89K | 0.60% |
| DEXCurve (Plasma) | SUSDE/USDT0 | $82K | 0.60% |
| DEXCurve (Ethereum) ↗ | SCRVUSD/SUSDE | $80K | 0.60% |
| DEXCurve (Ethereum) ↗ | CRVUSD/SUSDE | $33K | 0.60% |
| DEXCurve (Ethereum) ↗ | SDAI/SUSDE | $31K | 0.60% |
| DEXFluid (Arbitrum) ↗ | SUSDE/USDT0 | $27K | 0.60% |
| DEXSupernova (CL) ↗ | SUSDE/? | $19K | 0.64% |
CoinGecko tickers · 2026-11-11 · not a recommendation of any venue — check access, fees and whether the venue serves your country.
Issuer · primary market
SUBSCRIBE / REDEEMStake USDe at app.ethena.fi or buy sUSDe on a DEX/CEX
Who may buy is set by the issuer — check their terms. Not investment advice.
Key facts
VERIFIED 2026-11-09- Yield / return
- ~5.0% (variable)
- Risk
- Medium-High
- Minimum
- None
- Liquidity
- 7-day cooldown to unstake; sell instantly on a DEX
- Custody
- Self-custody (collateral held by centralized custodians)
- KYC
- None (on-chain)
- Verified
- 2026-11-09
Details
- Issuer
- Ethena Labs
- Type
- Yield Stablecoins
- Category
- Yield Stablecoins
- Yield source
- Delta-neutral futures basis trade + staking
- Network
- Ethereum (+L2)
- Jurisdiction
- —
- AUM
- —
Questions
ANSWERS- sUSDe or sUSDS — where does each yield come from, and which one is riskier?
- Which tokenized assets can an AI agent buy on its own, without KYC — and which pays the most?
- What is the best stablecoin yield on Ethereum right now?
- Which stablecoins actually pay me a yield, and where does that yield come from?
- Which real-world-asset and yield tokens can I buy without KYC, using only a self-custody wallet?