Ethena USDe USDE
Ethena USDe leads in team governance and security compliance, with roadmap delivery remaining a key focus, currently holding a solid D+ rating.
Rating updated 2026-08-04
D+38.7 / 100
Sector Rank #213 · Global Rank #551
Overall Rating
D+ · 38.7 / 100Roadmap Delivery
0
Tokenomics
0
Team Governance
89.97
Market Ecosystem
42.36
Security & Compliance
58.11
Overall Score
38.7
Ethena USDe has an overall rating D+f D (total score 38.7), ranking high in team governance, security compliance, and market ecosystem across six dimensions. The main point of deduction is roadmap delivery (0 points)—mainly affected by sub-items such as development continuity (0 points) and development heat trends (0 points).
Rating Team Conclusion: "Ethena USDe has relative advantages in team governance, security compliance, and market ecosystem, but its current shortcomings are concentrated in roadmap delivery." " It is recommended to observe cautiously and not use it as a core configuration basis for now.
Six-Dimension Rating Breakdown
Roadmap Delivery
0/100Roadmap On Time Delivery Rate?Lack of public roadmaps and milestone delivery data.Weight 35%0 / 100 · 0 / 100
Last 4 upgrades achieved?There is a lack of public information about recent upgrades and deliveries.Weight 30%0 / 100 · 0 / 100
Milestones to Deliver?Lack of publicly available milestone information to be delivered.Weight 20%0 / 100 · 0 / 100
History Extension Record?There is a lack of historical records of project delays.Weight 15%0 / 100 · 0 / 100
Technical Implementation
31/100Consensus Mechanism?As a synthetic dollar, USDe's security depends on the underlying public chain.Weight 30%50 / 100 · 50 / 100
Main network years of operation?The main network operation time of the project is relatively short, and historical data is limited.Weight 15%40 / 100 · 40 / 100
Recent upgrades?There is a lack of public information about the quality of recent upgrades.Weight 35%0 / 100 · 0 / 100
Client Diversity?As a synthetic dollar, it does not involve client diversity.Weight 20%50 / 100 · 50 / 100
Tokenomics
27.5/100Deflationary Mechanism?As a stablecoin, USDe does not have a deflationary mechanism.Weight 30%20 / 100 · 20 / 100
Inflation rate?Supply is dynamically adjusted based on market demand to maintain the peg.Weight 25%70 / 100 · 70 / 100
Staking rate/position lock-up rate?Lack of clear data on USDe staking or lock-up rates.Weight 25%0 / 100 · 0 / 100
Supply Upper Limit?As a synthetic dollar, there is no fixed supply limit.Weight 20%20 / 100 · 20 / 100
Team Governance
75/100Core Development Team?Core team members have strong backgrounds and VC endorsements.Weight 30%90 / 100 · 90 / 100
Governance mechanisms?Governance mechanisms are sound and highly transparent.Weight 25%88 / 100 · 88 / 100
Financial Transparency?High transparency of funds and a track record of financing.Weight 25%88 / 100 · 88 / 100
Concentration of key people?Contract ownership is concentrated, posing a single point of risk.Weight 20%20 / 100 · 20 / 100
Market Ecosystem
56.8/100Active Address?The number of active addresses is average.Weight 30%44 / 100 · 43.5 / 100
Ecological chain/L2 quantity?USDe has been integrated into multiple mainstream public blockchains and L2 networks.Weight 25%90 / 100 · 90 / 100
DeFi TVL?As a synthetic dollar, it has a large market capitalization and liquidity scale.Weight 25%85 / 100 · 85 / 100
Developer community?Lack of publicly available developer community activity data.Weight 20%0 / 100 · 0 / 100
Security & Compliance
51/100Historical Major Failure?There are currently no major safety incident records, and the safety score is high.Weight 25%90 / 100 · 90 / 100
Regulatory Attitude?The regulatory status of the synthetic dollar remains unclear and controversial.Weight 30%40 / 100 · 40 / 100
Sec Attitude?The SEC takes a cautious stance on synthetic dollar assets.Weight 30%30 / 100 · 30 / 100
Client Bug Frequency?As a synthetic dollar, it does not involve client bug frequency.Weight 15%50 / 100 · 50 / 100
D+ Peer Comparison
Export CSV| Ethena USDeD+ · 38.7 |  wojakD+ · 39.93 |  Polyhedra NetworkD+ · 39.91 |  yesnoerrorD+ · 39.9 | |
|---|---|---|---|---|
| Overall Score | 38.7 | 39.93 | 39.91 | 39.9 |
| Roadmap Delivery | 0 | 0 | 37.5 | 11.25 |
| Technical Implementation | -- | -- | -- | -- |
| Tokenomics | 0 | 23.58 | 41.25 | 0 |
| Team Governance | 89.97 | 30 | 75.16 | 34.4 |
| Market Ecosystem | 42.36 | 70 | 70.72 | 71.33 |
| Security & Compliance | 58.11 | 50.54 | 0 | 58.05 |
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