Ethena

LiveCore

Ethena USDe · Ethereum · 0x4c9e…68b3 · Attestation

Live · 2026-08-30 02:32:22 UTC · api.philidor.io/v1/por/ethenaGet API key

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Philidor score

6.8/10

Core

Published asset rating, not the reserve snapshot

Collateral ratio

100.66%

Observed reserves over circulating supply when both share the same scope

Circulating supply

$4.07B

On-chain liabilities Philidor reads

Reserves

$4.10B

Backing value in the current snapshot

Verifiability

0.0%

Share of backing Philidor verified on-chain at finalized blocks

Last verification

Aug 29, 2026

2026-08-29 21:26 UTC

Delta-neutral

Yes

Stated in the current attestation

Reserves vs supply

Observed backing snapshot against circulating liabilities. A ratio appears only when both figures share the same scope. This is not vault TVL.

Reserve composition

Anchored to the latest independent proof-of-reserves attestation. On-chain verifiability is only the share Philidor pinned itself.

On-chain overcollateralized lending$1.28B · 31.1%

Reserve stablecoins$854.33M · 20.9%

Delta-hedged basis$537.87M · 13.1%

AAA corporate debt (CLOs)$504.84M · 12.3%

OTC / institutional lending$488.47M · 11.9%

Exchange-held stables$435.79M · 10.6%

Covered TVL and yield

Investable TVL and net APR for USDe. This is the asset series, not circulating supply.

Derived points reconstruct historical vault snapshots using today's vault eligibility; observed points are captured directly from that day's investable set.