Ethena's USDe Reserves Primarily Committed to Lending Activities

Community Trust Score Verified 88 % Real Verified 17 votes Updated 9 minutes ago The risk assessor known as LlamaRisk reported on October 12 that 51.2% of the backing for Ethena’s USDe is currently allocated toward institutional lending and DeFi. This synthetic dollar, which maintains a target peg of $1, relies upon these specific assets to form its reserve structure. At the time the assessment was conducted, the total backing stood at $4.76 billion, which matched the 4.76 billion USDe that were outstanding.

Source: The Currency Analytics