Stablecoin protocol Ethena Labs released a Proof of Emergency Reserves report in response to market volatility over the past 24 hours. The report shows that the USDe stablecoin currently remains overcollateralized, with an overcollateralization amount of approximately $66 million.
Source: X
Joint verification by multiple independent institutions
The reserve proof was verified by multiple independent third-party institutions, including Chaos Labs, Chainlink, Llama Risk, and Harris & Trotter. These institutions confirmed that USDe currently maintains a healthy overcollateralization position.
Transparency mechanism operates normally
Ethena Labs stated that USDDe reserve proof is typically provided weekly by a third-party independent verifier. At the request of the community, the protocol provided this additional reserve proof outside of the regular release cycle in response to recent market events.
Detailed reserve data is available through Ethena's official transparency dashboard, the Chaos Labs oracle platform, and the Llama Risk verification service. The protocol emphasizes its commitment to maximum transparency to ensure user confidence in the protocol's security.
