Staked USDe · by Ethena · stable
sUSDe is Ethena's staked synthetic dollar, backed by crypto assets and corresponding short derivatives for delta-neutrality. Stakers earn funding rates from perpetual markets while maintaining price stability.
Spiral Stake supplies sUSDe as collateral on Morpho, borrows a correlated asset against it, and recycles that back into more sUSDe — looping in a single transaction to amplify the underlying Delta-Neutral Funding yield. Because the assets are price-correlated, the position targets a higher APY rather than a directional bet, with every cost and liquidation threshold shown upfront.
Leveraged sUSDe yield is a strategy that loops sUSDe on the Morpho lending protocol to multiply your exposure to its Delta-Neutral Funding yield. Spiral Stake executes the whole loop in a single transaction.
sUSDe earns yield from Delta-Neutral Funding, issued by Ethena. Looping amplifies that base yield.
Leveraged positions carry liquidation risk if collateral value falls relative to the borrowed asset, plus smart-contract and market risk. Every cost and liquidation threshold is shown before you confirm.
Live APY, leverage multiplier and available liquidity are shown in the app.