Stablecoin event
sUSDe operates as Ethena's reward-accruing USDe vault receipt
Ethena documents sUSDe as a transferable token-vault receipt created by staking USDe, with rewards reflected in an increasing USDe conversion value per share.
ImpactMedium
Detail kindOther
Sources3
Staked USDe
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Ethena Labs
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| Date | — |
|---|---|
| Event type | Protocol Model Update |
| Event detail kind | Other |
| Stablecoin subjects | Staked USDe |
| Organization subjects | Ethena Labs |
| Impact | Medium |
| Effect on stablecoin status | Active |
| Recovery / reversal | Not applicable / unresolved |
| Recovery date | — |
| Cause or mechanism | Public information is incomplete. |
| Record confidence | High |
| Source | Publisher | Type | Evidence scope |
|---|---|---|---|
| Ethena overview | Ethena | Official Documentation | Entity Identity, Active Product, Relationship to Usde, Entity and Current Status |
| sUSDe rewards mechanism | Ethena | Official Documentation | Token Vault, Exchange Rate Accrual, Underlying Usde, Income and Wrapper Mechanics |
| Staking USDe | Ethena | Official Documentation | Stake Usde, Unstake, Variable Rewards, Subscription Redemption and Rewards |
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