Stablecoin · ENA
Ethena Labs issues USDe, a crypto-native synthetic dollar, and related products including sUSDe (yield), USDtb (Treasury-backed), and the ENA governance token.
Digital dollars for the internet economy.
ENA price
$0.0856
-2.0% 24h
Latest data · 15 min delay
Collateral and funding-rate risk: negative or volatile funding can compress carry and stress the hedging book.
Depeg risk on USDe if hedges fail or venues become impaired (see SSRN delta-hedged stablecoin studies).
Counterparty and venue risk on CEX/DEX hedging and custody partners.
Smart-contract risk across mint, stake, and payout modules.
Regulatory risk: sUSDe is not offered in EU/EEA per protocol disclosures.
Governance concentration via operational multisigs controlling parameters.
