MeteoraOpen at source0.17%
0.43%
0.78%
$1.5M
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Strategy overview
Provide USDe/USDG liquidity through Meteora. Your position earns trading fees when users swap between the two pool assets.
- How it works:
- You deposit both pool assets into a DEX market. Traders swap against that liquidity, and the fees they pay accrue to liquidity providers; rewards may add extra yield.
- What you hold:
- LP shares representing your contribution to the USDe/USDG pool and the fees it has earned.
- Who runs it:
- Meteora — live since 2023 · audited by 2 firms · no known incidents
Position details
- APY Now
- 0.17%
- 7D Avg
- 0.43%
- 30D Avg
- 0.78%
- TVL
- $1.5M
- Pool Pair
- USDe – USDG
- Underlying Tokens
USDe–
USDG- Pool Type
- DLMM (concentrated bins)
- Bin Step
- 1
- Fee APR
- 0.17%
- Pool Fee
- 0.01%
- 24h Volume
- $77,481.34
Low–moderate risk · Grade B
31/100
- USDe's backing carries more risk than plain cash reserves — synthetic-backed.
- Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).
- USDe has slipped off its target price before — that history is priced in here.
Strategy
- Strategy type35
Two-token pool
- Leverage0
No leverage.
- Yield source40
Yield comes from trading fees.
- Pool usage0
Not a utilization-driven product.
- Pool size34
~$1.5M pool.
- Lock-up & yield stability0
30d APR volatility 1.2pp.
What can go wrong
- If either asset loses its peg, the pool can leave you holding more of the weaker asset.
- Concentrated positions stop earning fees while the market price sits outside their selected range.
- Yield varies with trading volume, fee rates, and any temporary reward emissions.
The assets
What your deposit is held in, and how steady its value is.
- Backing model60
USDe: synthetic-backed.
- Peg history36
USDe: worst recorded peg deviation informs this score (2 recorded event(s)).
- Issuer size0
USDe: ~$4.9B market cap.
- Exit liquidity20
USDe: ~$7.8M DEX depth.
- Token age31
USDe: live since 2024.
- Freeze authority0
No freeze authority on the underlying tokens.
These rows show USDe. The overall score counts the weaker token on each measure.
About USDe
Each asset in this position — what it is, how reliable it is, and any past depegs.
By Ethena. Synthetic dollar backed by crypto collateral that Ethena hedges delta-neutral (a short futures position) to hold the peg. · Live since 2024
- ·Worst deviation from $1 peg: 0.30% (tracked window).
- ·Held its peg 72.1% of the time.
Past depeg events
Token notes & warnings
- Mintable — The authority's owner has the ability to mint more tokens
- Permanent delegate — This token's owner has the ability to control this token, even if it is in your wallet
- Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
- Mutable transfer fees — This token's transfer fees can be updated by the owner
The team and protocol behind this, and their track record.
Provides two-sided liquidity to a stablecoin pair, earning a share of swap fees. Dynamic AMM pools mint a fungible LP token; DLMM concentrates liquidity into discrete price bins for higher fee capture while in range.
- Admin controls45
Upgradeable behind a multisig (threshold undisclosed).
- Exploit history0
No known exploits.
- Track record21
Live for ~38 months.
- Price feeds10
Pool-priced AMM — no external price-feed dependency.
- Scale7
$239.1M TVL — limited adoption so far.
- Safety reserves27
~$8.3M disclosed treasury/insurance backstop.
- Bug bounty15
Live bug bounty up to $500k.
- Audits0
Audited (OtterSec, Sec3).
How we rate risk
Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.
Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.
Non-custodial · Akashi never holds your funds