Basis Protocol

Score Proof · USDE · SII · 2026-09-21 19:39 UTC

Ethena USDe USDE
Issued by Ethena Labs
80.9

Methodology v1.2.0 · Computed 2026-09-21 14:25 UTC · 63 components

This page shows every input used to compute this score. The methodology is open. The computation is deterministic — same inputs always produce the same output.

Formula

SII = 0.30×Peg + 0.25×Liquidity + 0.15×Flows + 0.10×Distribution + 0.20×Structural

Category Weight Score Contribution
Peg Stability 0.30 96.9 29.06
Liquidity Depth 0.25 64.7 16.18
Mint/Burn Flows 0.15 79.1 11.86
Holder Distribution 0.10 71.5 7.15
Structural Risk 0.20 72.2 14.43
Total 80.9 78.69

Component Readings

63 of 56 target components currently scoring

Component Raw Value Score (0-100) Source Type Collected
Flows
daily_burn_volume 0 100.0 etherscan live 2026-09-21 14:25
daily_mint_volume 5.818e+06 95.5 etherscan live 2026-09-21 14:25
net_mint_burn_ratio 1 0.0 etherscan live 2026-09-21 14:25
supply_change_velocity 0.0386 100.0 derived static 2026-09-21 14:25
unusual_minting_detection 0.7035 100.0 derived static 2026-09-21 14:25
Governance
governance_model 60 60.0 config static 2026-09-21 14:25
team_transparency 0 50.0 config static 2026-09-21 14:25
Holder Distribution
agent_holder_share 0 actor_classification static 2026-09-21 14:25
correlated_response_risk 0 actor_classification static 2026-09-21 14:25
exchange_concentration 4.693 58.8 etherscan live 2026-09-21 14:25
top_10_concentration 4.693 100.0 etherscan live 2026-09-21 14:25
unique_holders 4.75e+04 60.0 etherscan live 2026-09-21 14:25
Liquidity
avg_bid_ask_spread 0.2683 73.2 coingecko live 2026-09-21 14:25
bid_ask_spread 0.2801 75.8 derived static 2026-09-21 14:25
cex_listing_count 38 70.0 coingecko live 2026-09-21 14:25
chain_count 31 100.0 defillama live 2026-09-21 14:25
circulating_ratio 0.9984 99.8 coingecko live 2026-09-21 14:25
defi_protocol_count 3 85.0 defillama live 2026-09-21 14:25
dex_pool_count 16 100.0 coingecko live 2026-09-21 14:25
lending_apy 2.44 24.4 defillama live 2026-09-21 14:25
lending_tvl 1.86e+09 100.0 defillama live 2026-09-21 14:25
market_cap 4.874e+09 80.0 coingecko live 2026-09-21 14:25
volume_24h 3.741e+07 60.0 coingecko live 2026-09-21 14:25
volume_concentration 0.5092 65.1 coingecko live 2026-09-21 14:25
volume_mcap_ratio 0.0077 0.0 coingecko live 2026-09-21 14:25
Market Activity
daily_turnover_ratio 0.7675 15.3 coingecko live 2026-09-21 14:25
exchange_count 54 85.0 coingecko live 2026-09-21 14:25
exchange_trust_ratio 1 100.0 exchange_snapshots static 2026-09-21 14:25
mcap_change_24h 0.59 71.8 coingecko live 2026-09-21 14:25
price_stability_24h 0.014 99.7 coingecko live 2026-09-21 14:25
price_stability_7d 0.0278 99.7 coingecko live 2026-09-21 14:25
stablecoin_market_share 3.249 60.0 coingecko live 2026-09-21 14:25
trading_pair_diversity 32 100.0 coingecko live 2026-09-21 14:25
Network
gas_resilience 75 75.0 config static 2026-09-21 14:25
primary_chain_security 95 95.0 static static 2026-09-21 14:25
Peg Stability
arbitrage_efficiency 0.7119 73.1 derived static 2026-09-21 14:25
depeg_events_30d 0 100.0 coingecko live 2026-09-21 14:25
max_drawdown_30d 0.1074 98.9 coingecko live 2026-09-21 14:25
peg_24h_max_deviation 0.0305 99.7 coingecko live 2026-09-21 14:25
peg_30d_stability 1 100.0 coingecko live 2026-09-21 14:25
peg_7d_max 0.9999 99.8 coingecko live 2026-09-21 14:25
peg_7d_min 0.999 98.0 coingecko live 2026-09-21 14:25
peg_7d_stddev 0.000263 98.7 coingecko live 2026-09-21 14:25
peg_current_deviation 0.0137 99.7 coingecko live 2026-09-21 14:25
peg_range_7d 0.00091 95.5 coingecko live 2026-09-21 14:25
stress_performance 2.134 77.3 coingecko live 2026-09-21 14:25
Regulatory
jurisdiction_clarity 1 80.0 config static 2026-09-21 14:25
regulatory_status 45 45.0 config static 2026-09-21 14:25
Smart Contract
admin_key_risk 65 65.0 config static 2026-09-21 14:25
blacklist_capability 0 100.0 config static 2026-09-21 14:25
bug_bounty_score 2.5e+05 100.0 config static 2026-09-21 14:25
contract_verified 1 100.0 static static 2026-09-21 14:25
exploit_history 0 100.0 config static 2026-09-21 14:25
pausability 0 100.0 config static 2026-09-21 14:25
Transparency
attestation_frequency 7 95.0 config static 2026-09-21 14:25
attestation_freshness 336 20.0 cda_reducto_pdf cda 2026-09-21 14:25
auditor_quality 3 60.0 config static 2026-09-21 14:25
cash_equivalents_pct 0 0.0 attestation static 2026-09-21 14:25
custodian_diversification 1 35.0 cda_reducto_pdf cda 2026-09-21 14:25
reserve_to_supply_ratio 1.01 75.0 attestation static 2026-09-21 14:25
transparency_url_exists 1 100.0 config static 2026-09-21 14:25

Evidence

Raw JSON · Score History · Witness Archive · Methodology Spec

Re-derivation

Inputs hash: 3452f32ff85a2bf212f88fd9d2e2fef5

You can verify this score independently by calling GET /api/scores/usde and applying the published formula to the component readings. The same inputs always produce the same output.