Ethena Staked USDe (sUSDe) is a reward-bearing token issued by the Ethena protocol. Users receive sUSDe by staking USDe, Ethena's synthetic dollar. The value of sUSDe appreciates over time as it accrues rewards generated by the protocol.

sUSDe allows holders to earn yields derived from the Ethena protocol's activities, including funding rate arbitrage and staking rewards. By holding sUSDe, users passively accumulate these rewards without additional actions. The value of sUSDe increases as rewards are added to the staking contract, and users can unstake their sUSDe at any time to receive USDe equivalent to the initial staked amount plus accrued rewards.

Ethena Staked USDe (sUSDe) was developed by Ethena Labs as part of their synthetic dollar protocol on the Ethereum blockchain. Ethena Labs aims to provide crypto-native financial solutions, including USDe and its staked counterpart, sUSDe.