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Proof of Reserves

HT DigitalChaos LabsLlamaRiskChainlink

Independent third-party verification of the backing assets of USDe.

Protocol Backing Ratio

Total Backing (+ Reserve Fund)

USDe Total Supply

USDe Price

System Backing

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USDe Secondary Price

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Venue Breakdown

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USDe Supply

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Backing

Backing Notional

Proof of Reserves

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HT DigitalChaos LabsLlamaRiskChainlink

Q4 2025

Transparency | Ethena