InformationTVLYieldsFees and Revenue

Ethena USDe (ENA)

Total Value Locked$6.526b

TVL by Chain

Ethereum$6.526b

Key Metrics

Fees (Annualized)$268.87m

Fees 30d$22.04m

Fees 7d$4.99m

Fees 24h$28

Cumulative Fees$631.04m

Revenue (Annualized)$606,059

Revenue 30d$49,677

Revenue 7d$13,379

Revenue 24h$28

Cumulative Revenue$98.47m

$ENA Liquidity$20.46m

Uniswap V3$20.2m

Aerodrome Slipstream$260,794

Protocol Information

Ethena is a synthetic dollar protocol built on Ethereum

Category:Basis Trading

Audits:

WebsiteTwitter

Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Staking rewards + yield distribution + mint fees + extra feesView code on GitHubRevenue: Mint Fees and staking rewards portion to Reserve FundView code on GitHub

Yields

Pools Tracked1

Average APY4.47%

View all Yields

Competitors

Falcon Finance ($2.107b)BounceBit CeDeFi Yield ($423.2m)Resolv ($407.35m)Superstate USCC ($336.03m)BitFi Basis ($311.86m)Solv Basis Trading ($252.97m)ZEROBASE CeDeFi ($73.73m)Aegis ($41.49m)Stables Labs USDX ($33.33m)BounceBit Prime ($12.87m)

Income Statement for Ethena USDe

Q4 2025*Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023
Fees$85.73m$151.08m$45.86m$95.67m$145.54m$27.68m$55.11m$24.28m$84,309
Revenue$444,672$10.18m$1.15m$7.92m$26.96m$1.05m$26.39m$24.28m$84,309
Earnings$444,672$10.18m$1.15m$7.92m$26.96m$1.05m$26.39m$24.28m$84,309