I am a simple man and only desires minimal complications in my DeFi portfolio, particularly concerning stablecoins.
Since January 2025, Ethena has transparently posted its $USDe Proof of Reserves, accompanied by custodian attestations.
Ethena is looking good here.
Every week Ethena publishes proof of reserves that are independently verified by third party attestors.
Proof of Reserves provides further independent verification, from external third parties, that the backing assets of USDe are not custodied directly on exchanges and that USDe is both overcollateralised and delta-neutral.
Link to PoR dashboard linked below:
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