Ethena WalletsUSDe — Staked USDe
Represents staked USDe and may accrue discretionary rewards. Rewards are variable.
What sUSDe represents
sUSDe represents staked USDe and may accrue discretionary rewards. Rewards are variable. A balance measured in sUSDe and its value measured in USDe are different quantities. Neither rewards nor capital are guaranteed.
How the vault works
The staking contract uses a tokenised-vault model. The relationship between vault shares and the underlying USDe accounts for rewards when they are provided. Do not treat one sUSDe as one USDe or assume a fixed annual return.
Eligibility matters
Staking access is subject to conditions. The documentation referenced for this website restricts acquisition of sUSDe for residents or entities based in the EU/EEA. Confirm the applicable terms and eligibility before using any service. This website does not offer a staking action.
Risks to understand
sUSDe adds staking-contract and liquidity considerations to the risks of USDe. Access, unstaking conditions and secondary-market pricing can affect an outcome. No fixed cooldown or reward rate is implied here.
Glossary
Vault share: a token representing a claim under a vault’s rules. Discretionary rewards: rewards that may be provided, without a fixed promise. Redemption: exchanging a claim for an underlying asset under applicable conditions.