sUSDe (sUSDe)Price Live Chart, Prediction, Market Cap, Token Unlocks, sUSDe Concept Stocks CoinMeta

BTC

$68,754.87

+4.82%

/sUSDe Price

sUSDe

No.39

$1.217

+0.01%

≈$1.22

Market Cap

$3.75B

Cir. Cap

$3.75B

Cir. Supply

3.08B

Cir. Rate

100%

Total Supply

3.08B

Max Supply

24h Volume

$5.89M

24h Vol (BTC)

7.17M

24h Turnover

0.00191275%

Market Share

Performance

Low

Range

+0%

High

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$1.01

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-3.56%

ATL (2025-06-04)

$0.9742

+24.96%

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1 Day

TradingView

-0.01%

24H

+0.01%

+0.13%

30D

+0.23%

+0.36%

All

+20.06%

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#	Exchange	Pairs	Price	+2%Depth	-2%Depth	Volume (24h)
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Community

DeFi Saver

01-29 06:31

Attention! DFS has launched two brand new @Morpho trading pairs: - $sUSDe / $USDTb - $USDe / $USDTb Both pairs offer a LTV of 91.5% and leverage up to 11x. These @ethena_labs pairs also support single-trade loops using our Boost and Repay options. ⚡️ Screenshot from our Discover page, where you can compare lending and borrowing terms across hundreds of asset portfolios and instantly estimate the net annualized return (APY) of your looped holdings. Click here to view:

424

Encryption PhD Adele

01-28 15:24

1/ On-chain market signals are emerging: The implied yield of sUSDe on the Pendle platform behaves like a proper forward yield curve: it reveals market expectations regarding funding rates, arbitrage, and the future movement of Bitcoin itself. This is the emergence of an on-chain term structure 🧵 2/ Term Structure: sUSDe is based on the perpetual funding rates of Bitcoin and Ethereum. Pendle allows this yield to be traded across multiple maturities. In short, the market prices not only current yields but also expected changes in future funding and leverage. This forward pricing is the term structure. 3/ Implied Yield: Signals are beginning to emerge. Near-month contracts reflect current leverage and positions. Further-month contracts reflect duration, i.e., expectations of a stable future funding rate level. When these two diverge, the market is sending a message: future option positions may be repositioned before prices reflect this. 4/ The key lies in the spread. When the implied yield of a forward contract is higher than that of a near-term contract (futures premium), the market is absorbing rising arbitrage costs and risk appetite. When the yield curve turns into a steep futures discount, the market is absorbing reduced liquidity, deleveraging, and a bear market. Extreme cases are most important. This can be seen in historical forward yields. 5/ When we compare term spreads with historical forward yields, a clear relationship emerges: Historically, higher positive term spreads have been a leading indicator of excess returns for Bitcoin. Larger negative term spreads send the opposite signal. 6/ You can track these metrics daily on our free Ethereum dashboard:

361

Token Terminal

01-27 18:39

The time it takes for a DeFi protocol to reach $100 million in cumulative revenue is greatly influenced by market cycles, product-market fit, and liquidity conditions. In a strong bull market, top protocols can reach $100 million in just a few months. @ethena_labs is a prime example: - Reached $100 million in revenue in approximately 251 days - Became the second fastest DeFi protocol after Pumpfun - Exceeded $500 million in revenue in its first year (2024-2025) and surpassed $650 million in 2025, placing it among the top-performing protocols despite a late start. Even in a sideways market ↓ - Total revenue of approximately $30 million in Q1 2026 - Most DeFi protocols struggle to reach this level even during market booms - Ethena has demonstrated that Delta neutrality + funding rate mining can generate sustainable returns at scale - Current annualized yield (APY) is approximately 5% to 13%, depending on the market phase - USDe has become the leading synthetic stablecoin for perpetual trading and margin collateralization - Used for advanced leveraged products and liquidity leverage strategies ➥ Cross-Market Cycle Comparison Uniswap (early 2020): It took approximately 980 days (2.7 years) to reach $100 million. In subsequent bull markets, emerging protocols scaled much faster due to the flywheel effect of liquidity and user growth. During bear markets/sideways consolidation periods, such as 2022-2023: Top-tier protocols typically take 6-8 months to reach their revenue milestones; mid-tier protocols may take longer. Mature protocols like Aave, Lido, and Uniswap accumulate revenue more steadily due to long-standing network effects. - Lido: Cumulative revenue approximately $3 billion - Aave: Cumulative revenue approximately $1.7 billion Emerging protocols like Morpho, Etherfi, and Maple typically take 7-18 months to reach $100 million in revenue, primarily due to lower TVL startup capital, intense competition, and a lower FOMO effect. ➥ Macro Perspective Top 5-10 protocols (Aave, Lido, Uniswap, Ethena, Jito, and Meteora) typically accumulate hundreds of millions or even billions of dollars in fee revenue through stable and consistent earnings. Many protocols can reach $100 million in annual recurring revenue (ARR) during bull markets, but when market sentiment aligns with the product market (as in Ethena's case), the cumulative revenue can reach $100 million much faster. ➥ Why Use Revenue as a Metric 1) Predicting Future Token Value Revenue → Buyback/Burn/Distribution → Token Value Accumulation 2025-2026 Trend: The percentage of fees distributed to holders will rise from approximately 5% (before 2025) to over 15%. Even protocols that previously resisted buybacks or fee sharing (such as Aave and Uniswap) are now beginning to embrace this approach. Ethena distributes approximately 100% of its revenue to sUSDe holders → ENA indirectly benefits through demand and fee conversion. 2026 is the year of "Revenue Sharing": Fee conversion is activated; revenue flows into sENA (staking ENA). The $360 million ENA buyback in 2025 and the accumulation of team wallets → Many analysts believe this will be a significant catalyst for ENA. 2) A Simple Valuation Heuristic If a protocol generates $X in revenue per month and uses Y% of that revenue for buybacks/burns, then over time, the token value will be "absorbed" by approximately (X × Y% × time) / circulating supply. ➥ Important Considerations Not all revenue is converted into tokens. ➞ Lido is a prime example; LDO has no buyback/burn mechanism; revenue is primarily used for reserves and development. Some protocols prioritize growth over holder rewards. Revenue Quality is Crucial. ➞ Sustainable revenue sources (e.g., lending, staking) are superior to speculative revenue sources (e.g., memecoin issuance platforms like Pumpfun, where prices surge rapidly but the risk of collapse is higher). Fee Concentration is Increasing. ➞ Previously, 2-3 protocols accounted for 70-80% of transaction fees. Currently, the top ten projects account for approximately 80% of the market share, giving new projects the opportunity to quickly reach a scale of $100 million by dominating strong niche markets (RWA, liquidity staking, permanent decentralized exchanges). On-chain native projects can scale rapidly ➞ Meteora (Solana) leads with approximately $1.25 billion in fee revenue in 2025, surpassing Uniswap/Jupiter/Aave, demonstrating the explosive growth potential of on-chain native protocols in a bull market. Revenue is a crucial metric for measuring project value.

464

Token Terminal

01-26 17:03

Yield-Generating Stablecoins: From USD-Pegged Tokens to On-Chain Fixed-Income Infrastructure Stablecoins are maturing, with their market capitalization growing and their specialization increasing. What was once a single category is splitting into different yield engines, each representing a unique way of generating on-chain USD cash flow. As with other verticals in the cryptocurrency space, this shift hasn't been uniform. It's been defined by a few dominant players, followed by numerous experimental projects trying to catch up. This article will delve into the following: ▸ Market Overview: Who Leads the Race for USD-Generating Stablecoins? ▸ Comparative Analysis of Yield Engines in Stability, Pegging/Liquidity, Transparency, and Sustainability ▸ Explanation of the Yield Mechanism and its Underlying Assets Let's analyze it together! ↷ --- A) Market Structure: Two Giants + Long-Tail Innovation View Market Map The two assets with the highest market capitalization: ▸ $sUSDS: $4 billion ▸ $sUSDe: $3.8 billion Total: $7.8 billion, concentrated in these two products. Meanwhile, the situation for other tokens is as follows: ▸ The third token ($wstUSR) had a market capitalization of approximately $370 million ▸ Subsequently, its market capitalization plummeted to the $200 million to $20 million range. This is a classic barbell structure: ▸ One end: Liquidity standard becomes the default yield currency, the US dollar. The other end: Numerous new designs are testing different mechanisms, distribution channels, and growth cycles. In the stablecoin space, liquidity is the moat. Therefore, the real competition is not about who has the highest annualized yield. ╰➤ Which stablecoin can effectively improve yields under pressure without harming the pegged exchange rate or liquidity, thus becoming the system's default savings account? --- B) Growth Signals: Long Tail Grows Rapidly, But Leaders Win with Liquidity See the "30-Day Market Cap Change" section Smaller market cap tokens typically see significant percentage growth because they are in early stages or currently in the self-funding phase: $YUSD: +112.5% | $gtUSDC: +48.5% | $sUSN: +39.9% $RLP: +24.2% | $wstUSR: +12.0% | $sUSDe: +9.6% ▸ Once market cap reaches billions of dollars, growth typically slows and follows market trends. ▸ When market cap is below $200 million, growth is driven by activities/points/incentives/distribution channels ╰➤ Long-tail products are validating product-market fit (PMF) in specific market segments, but the leader @ethena_labs still dominates because it has the deepest liquidity. Source: @tokenterminal --- C) Six Revenue Engines: More Than Just Mechanisms, Six Monetary Architectures Driving Growth ① RWA-Based Revenue > Revenue comes from off-chain income (Treasury bills, repurchase agreements, bank deposits) and is redistributed on-chain. > Essentially an on-chain USD using TradFi's world interest rate. $sDAI - @SkyEcosystem | $sUSDz - @AnzenFinance $stEURa - @AngleProtocol ➁ Delta Neutral/Arbitrage > Revenue comes from funding/basis interest rates, achieved through a hedging structure (long spot + short perpetual contract). > The decisive factors are the funding mechanism and the quality of hedging execution. $sUSDe - @ethena_labs | $sUSN - @noon_capital $savUSD - @avantprotocol | $wstUSR - @ResolvLabs ③ Lending Revenue > Revenue originates from interest rates in the lending market. The mechanism is very simple: the supply and demand of on-chain lending determines the interest rate. $sDOLA - @InverseFinance | $scrvUSD - @CurveFinance ④ Strategy/Vault > Yields come from a combination of strategies: liquidity provider fees, arbitrage, automatic compounding, and allocation. > In fact, this is the most powerful packaged solution: integrating multiple small yield sources into a user-friendly product. $fxSAVE - @protocol_fx | $gtUSDC - @gauntlet_xyz $sfrxUSD - @fraxfinance | $YUSD - @GetYieldFi ⑤ Yield Sharing > Yields come from protocol-level cash flow (fees, liquidation, operations, etc.), returned to holders/stakers. > It treats stablecoins as equity: the higher the adoption rate, the more powerful the yield engine. $sUSDS - @SkyEcosystem | $hwhLP - @Hyperwavefi ⑥ Incentive Mechanism > Yields come from token incentives/points/issuance, used to launch liquidity and attract users. $srUSD - @reservoir_xyz | $RLP - @ResolvLabs > Decentralized applications distributing incentives (e.g., yield marketplaces, lending/circulating trading platforms, vaults/aggregators) help drive cash flow into stablecoins and boost the annualized yield (APY) through events/promotions. @pendle_fi | @aave | @MorphoLabs | @eulerfinance --- In the new era, on-chain dollars cannot sit idle. They must generate profits, must circulate, and must become working capital. Yield stablecoins are an upgrade from cash to yield assets. ➥ Yield is more than just a percentage number.It is a system: encompassing mechanisms, risks, transparency, and allocation.

385

Stani^

01-14 20:02

The issuance cap for PT-sUSDe (April 2026) on the @Aave Plasma platform has increased from $400 million to $800 million. The 19.7% annualized yield is back, everyone! 😋

382

Stani^

01-07 21:05

The latest Ethena PT is now live on @Plasma's @aave instance! The April USDe PT is live with a cap of $40 million; the April sUSDe PT has a cap of $100 million. As demand grows, the PT capacity cap will rapidly increase by hundreds of millions of dollars in the coming days.

359

Stephen | DeFi Dojo

01-06 01:52

In our first yield discussion thread of the year, we'll explore the highest annualized yield (APR). 🚨Best Leveraged Stablecoin Yields🚨 Sometimes, you have to take risks to succeed. 🧵👇 1) @pendle_fi 🤝 @lista_dao You can bridge PT-USDe from Plasma to BSC and then gain over 10x leverage on Lista with extremely low borrowing costs. ► PT Yield: 4.66% ► Borrowing Cost: 1.86% ► Leverage: 10x ► Liquidity: $12 million Net Annualized Yield: 29.86% 2) The globally renowned Aavethena This is a bit hard to grasp, but it's currently one of the highest-yielding stablecoins on the market. To qualify, your sUSDe collateral on @aave's @ethena_labs must exceed your USDe collateral, and you must borrow non-USDe stablecoins with a value at least equal to your USDe collateral. Operating on Plasma with maximum leverage (10x) yields approximately 21% annual interest. You can also do this on the Ethereum mainnet. 3) There is no restriction on borrowing USDe using syrupUSDC… Due to the large amount of USDe borrowed during the last event, lending rates are quite low. You can take advantage of this by using @maplefinance syrupUSDC to leverage your USDe. The main challenge is converting USDe to syrupUSDC without losing too much of your principal. ► SyrupUSDC Yield: 5.6% ► Borrowing Cost: 3.48% ► Leverage: 10x ► Liquidity: 186 million Net Annualized Yield: 24.68% 4) Speaking of @maplefinance @kamino has offered some very good Syrup cyclical trades over the past few months. The average yield is typically between 7% and 20%, almost always positive. Now, you can use 8.3x leverage to cyclically trade SyrupUSDC with USDC for a 20% annualized yield. 5) Also, on Kamino… I've mentioned @HastraFi a few times before; they are the minter of PRIME, a stablecoin backed by Home Equity Credit Lines (HELOC) with an intrinsic yield of approximately 8%. They offered some attractive cash rewards (cash is Phantom's stablecoin), resulting in a net annualized return of: 23% Loop's historical annualized return is also quite impressive. 6) @infiniFi highly favors @ipor_io The real advantage is that @628Labs manages your leverage while you maintain 12x return on your principal. So typically, you can achieve positive returns (see the stock chart) while also getting the best pip multiplier. Yes, there is currently a cap, but it may be lifted if you comment here and @OG_RogerTennis. Actual return: 8.33% + 12x pips. The Pendle platform values 7x pips at 6.13%, so 12x pips should yield at least a +10.5% annualized return. 7) @Neutrl Marketplace is now available on @Morpho! Currently only available in the Pendle market, but… ⇒ PT sNUSD Yield: 14% ⇒ Borrowing Cost: 11.64% ⇒ Leverage: 4x ⇒ Liquidity: $1.5 million Net Yield: 21% I'm also looking forward to the regular version of sNUSD being listed on Morpho. 8) One of my favorite assets is @ResolvLabs' RLP. RLP is Resolv's subordinated bond, with an average annual interest rate consistently around 8-12%. You can use it on @eulerfinance or @Morpho platforms to get a pretty good annual interest rate. Euler (Ethereum Chain) ➢ 16% annual interest rate, $100,000 liquidity Morpho (Ethereum Chain) ➢ 32% annual interest rate, $41,000 liquidity Morpho (Arbitrage Chain) ➢ 25.7% annual interest rate, $2 million liquidity 9) @solsticefi's PT bond on the @kamino platform In my opinion, this bond seems undervalued. ⇒ PT USX Yield: 13% ⇒ Borrowing Cost: 5.6% ⇒ Leverage: 5x ⇒ Liquidity: $1 million Net Yield: 42%! 10) Established Reliable Coin @reservoir_xyz I call this a reliable, established coin because you can mine with it for over a year, and it still easily outperforms RFR's yield among stablecoins. With 12x leverage, wsrUSD has an annualized yield (APY) of 5.75% and a borrowing cost of 3.06%... ...Net annualized yield: 35.34% Borrowing $4 million. Not bad. You can also borrow AUD/USD (AUSD) through Monad for an even higher net annualized yield. That's all! There are definitely other cryptocurrencies; please let me know which important ones I missed. Thanks for reading.If you'd like to discuss yield with us: Related cryptocurrencies: Neutrl, Solstice, Pendle, Resolv

407

Stephen | DeFi Dojo

01-03 09:37

Junior staking is a high-risk/high-return guardian of funds. And there are many types of staking. In fact, I even like some as depositable staking options. Let's talk about them (9-26% ANZER, no leverage) 🛡️Junior Staking Mini Discussion Thread🛡️ 🧵👇 First, a few things to note about junior staking: 1) They bear all/first losses of the protocol. 2) Therefore, they carry the risk of leveraged losses. For example: If a junior staking represents 10% of the protocol's total value locked (TVL) (despite bearing 100% of the protocol's losses), this means it carries the risk of 10x leveraged losses. 3) Senior staking is only affected when junior staking is completely depleted. 1) @ResolvLabs “RLP” RLP is one of the first large-scale junior tokens we've seen in the DeFi space. Despite being a novice token, RLP has maintained a remarkable "continuous upward" trend (with only one or two very brief drawdowns of <0.5%) due to its generally conservative underlying strategy. ➢ 3.11x Leverage Exposure (Low) ➢ 8-12% Annualized Return (Medium) ➢ 15-25% Leverage Annualized Return (Euler and Morpho Strategies) Good liquidity and redeemable by institutions. 2) @infiniFi “liUSD” liUSD assumes the strategy and duration risks of Infinifi's underlying returns. ➢ 4.11x Leverage Exposure (Low/Medium) ➢ 8-12% Annualized Return (Medium) ➢ Earn an additional 2-5% credits based on Pendle data. ➢ Zero losses to date / Zero leverage in the protocol Lock-up period is a minimum of 1 week and a maximum of 13 weeks. 3) @strata_fi jrUSDe Strata splits its yield assets into senior and junior versions, in this case sUSDe. The advantage is that you only bear the risk of losing Ethena, which, to my knowledge, is virtually zero due to Ethena's insurance fund. ➢ 5.46x Leverage Exposure (Medium) ➢ 10% Annualized Return + Credits ➢ Zero Losses to Date / Zero Leverage in the Protocol I like this because, unless you believe Ethena will exist forever, then that's another story. So, this is arguably a way to gain this yield leverage exposure without actual leverage (but you do face leverage losses). 4) @avantprotocol avUSDx Currently, it's almost identical to jrUSDe, but the underlying Ethena strategy is more diversified. ➢ 6.7x Leverage Loss Exposure (Medium/High) ➢ 16% Annual Interest Rate + Credits ➢ Has a strategy team that can move underlying funds from one strategy to another at its discretion (i.e., it operates more like a hedge fund) 5) @3janexyz sUSD3 3Jane is the first large-scale unsecured lending protocol that allows you to obtain unsecured loans on-chain after connecting your bank account, completing credit checks, and viewing an overview of your on-chain assets. It might sound a bit intimidating, but once you realize there's a KYC process and bank account connection requirements, it's actually just a regular on-chain lending process. However, their tiered loss mechanism makes sense. The subordinate asset sUSD3 bears the losses from default, while USD3 is protected by it. ➢ 7.7x Leverage Loss Exposure (High) ➢ 27% Annualized Return + Points (High) This scheme carries the highest risk and is often fully booked, but I hope it can implement the Lindy mechanism because, in my opinion, it's a very cool new DeFi primitive. That's all! Of course, there are definitely other various high-level/low-level tiering mechanisms (I'm also building a tiering-based protocol myself). If you think of any mechanisms I've missed, please comment below, as I'm always looking for new ones. Mention Ambassador: Resolv

334

Stani^

2025-12-23 01:02

So @Aave decided to play the secret Santa Claus and gave away some of @Plasma's PT token caps 🎅🏻 Here's a breakdown of the MAX cycle's returns: 🔹PT-sUSDe = 33.0% Annualized Yield 🔹PT-USDe = 21.6% Annualized Yield These token caps are enough to support a billionaire's complete portfolio across both markets. Merry Christmas! 🎄

335

Stephen | DeFi Dojo

2025-12-22 23:33

Gold futures prices have reached a high of $4,425. There aren't many gold-yielding projects on the market. However, here are a few. Here's some related discussion 🪙👇 1) @yield recently launched their gold vault, yoGOLD. While I don't have any information on its historical yield, I know it's @ipor_io's vault, and it does generate some yield due to its 1:1.0002 exchange rate. Furthermore, it also offers 3x Yo points and 5x Fusion points. It would be great if @pendle_fi could offer this service as well. 2) Always 👏Follow👏Merkl👏 Two liquidity providers (LPs), one on @monad, which I like, and another often overlooked but equally frequently incentivized on @hemi_xyz. I have some friends investing on Monad. I might also do some cross-period investing myself. A 25% yield is good for a reasonable range and should last for several weeks. 3) I want to give @orogoldapp a thumbs up. The team looks great, and they've finally gotten their first certification. Basically, you buy the right to use gold, they lend it to jewelers, the jewelers profit, and you net around 3-4%. While this is theoretically great, the low total value leverage (TVL) and the trust assumptions associated with real-world business and legal agreements give me pause. 4) Possibly the best strategy: @Morpho plus @pendle_fi or @upshift_fi. You can borrow Australian dollars (AUSD) with XAUT0 at an interest rate of -0.04%. That means you can earn money while borrowing Australian dollars. You can borrow Australian dollars at a very reasonable 50% interest rate and then deposit them into @upshift_fi's Australian dollar vault for a 12% yield. Your net return is approximately 6%. Alternatively, you can invest it in a PT with a yield of 14-16%, resulting in a net return of 7% to 8%. The overall risk profile is excellent. @SteakhouseFi is an excellent curator. Tether, Morpho, Agora, and Pendle are teams I currently trust very much. 5) Similar but different. Plasmaavethenagold. No, I'm not quoting a name from the Bhagavad Gita. This is actually borrowing USDE against XAUT for AAVE-Ethena yield operations, with a maximum leverage of approximately 16%. Assuming a loan-to-value (LTV) ratio of 50% for the sUSDE/USDE revolving account and 10x leverage, you could earn approximately 8% yield just from exposure to Tether, Ethena, and AAVE on Plasma. Additional information: Futures basis. Gold futures prices have risen to $4.425. The on-chain gold price is $3,395. Therefore, you can short the futures (expiring in 8 days) while simultaneously going long on-chain or through a broker. The short position would yield approximately 29% profit. Of course, if you wish to go long, you can have a larger long position than short position, or use gold as collateral. That's all; I don't think I've mentioned any partners yet.

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