Basis Protocol

Score Proof · USDE · SII · 2026-11-12 19:02 UTC

Ethena USDe USDE
Issued by Ethena Labs
78.5

Methodology v1.2.5 · Computed 2026-11-12 18:29 UTC · 65 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 89.0 26.68
Liquidity Depth 0.25 64.0 16.00
Mint/Burn Flows 0.15 80.0 12.00
Holder Distribution 0.10 76.3 7.63
Structural Risk 0.20 71.8 14.37
Total 78.5 76.69

Component Readings

65 of 56 target components currently scoring

Component Raw Value Score (0-100) Source Type Collected
Flows
daily_burn_volume 4.283e+05 100.0 etherscan live 2026-11-12 18:29
daily_mint_volume 0 100.0 etherscan live 2026-11-12 18:29
net_mint_burn_ratio 0 0.0 etherscan live 2026-11-12 18:29
supply_change_velocity 0.0337 100.0 derived static 2026-11-12 18:29
unusual_minting_detection 0.4066 100.0 derived static 2026-11-12 18:29
Governance
governance_model 60 60.0 config static 2026-11-12 18:29
team_transparency 0 50.0 config static 2026-11-12 18:29
Holder Distribution
agent_holder_share 0 100.0 actor_classification static 2026-11-12 18:29
correlated_response_risk 0 100.0 actor_classification static 2026-11-12 18:29
exchange_concentration 0.874 43.5 etherscan live 2026-11-12 18:29
top_10_concentration 0.874 100.0 etherscan live 2026-11-12 18:29
unique_holders 4.718e+04 60.0 etherscan live 2026-11-12 18:29
Liquidity
avg_bid_ask_spread 0.374 62.6 coingecko live 2026-11-12 18:29
bid_ask_spread 0.3912 64.1 derived static 2026-11-12 18:29
cex_listing_count 37 70.0 coingecko live 2026-11-12 18:29
chain_count 34 100.0 defillama live 2026-11-12 18:29
circulating_ratio 1.007 100.0 coingecko live 2026-11-12 18:29
defi_protocol_count 3 85.0 defillama live 2026-11-12 18:29
dex_pool_count 11 100.0 coingecko live 2026-11-12 18:29
lending_apy 1.78 17.8 defillama live 2026-11-12 18:29
lending_tvl 2.141e+09 100.0 defillama live 2026-11-12 18:29
market_cap 4.93e+09 80.0 coingecko live 2026-11-12 18:29
volume_24h 2.622e+07 60.0 coingecko live 2026-11-12 18:29
volume_concentration 0.4334 77.8 coingecko live 2026-11-12 18:29
volume_mcap_ratio 0.0053 0.0 coingecko live 2026-11-12 18:29
Liquidity Info
liquidity_depth_cex_cost_to_move_usd 6.679e+07 — liquidity_depth;confidence=standard;venues=27 static 2026-11-12 18:29
liquidity_depth_venue_count 27 — liquidity_depth;confidence=standard;venues=27 static 2026-11-12 18:29
Market Activity
daily_turnover_ratio 0.5318 10.6 coingecko live 2026-11-12 18:29
exchange_count 48 70.0 coingecko live 2026-11-12 18:29
exchange_trust_ratio 1 100.0 exchange_snapshots static 2026-11-12 18:29
mcap_change_24h -0.03 69.9 coingecko live 2026-11-12 18:29
price_stability_24h 0.0314 99.4 coingecko live 2026-11-12 18:29
price_stability_7d 0.0193 99.8 coingecko live 2026-11-12 18:29
stablecoin_market_share 3.287 60.0 coingecko live 2026-11-12 18:29
trading_pair_diversity 30 100.0 coingecko live 2026-11-12 18:29
Network
gas_resilience 75 75.0 config static 2026-11-12 18:29
primary_chain_security 95 95.0 static static 2026-11-12 18:29
Peg Stability
arbitrage_efficiency 0.0424 0.0 derived static 2026-11-12 18:29
cross_exchange_variance 0.000368 96.3 coingecko live 2026-11-12 18:29
depeg_events_30d 0 100.0 coingecko live 2026-11-12 18:29
max_drawdown_30d 0.2844 97.2 coingecko live 2026-11-12 18:29
peg_24h_max_deviation 0.1046 99.0 coingecko live 2026-11-12 18:29
peg_30d_stability 1 100.0 coingecko live 2026-11-12 18:29
peg_7d_max 0.9997 99.5 coingecko live 2026-11-12 18:29
peg_7d_min 0.9986 97.3 coingecko live 2026-11-12 18:29
peg_7d_stddev 0.000265 98.7 coingecko live 2026-11-12 18:29
peg_current_deviation 0.0777 98.5 coingecko live 2026-11-12 18:29
peg_range_7d 0.001097 94.5 coingecko live 2026-11-12 18:29
stress_performance 2.438 71.2 coingecko live 2026-11-12 18:29
Regulatory
jurisdiction_clarity 1 80.0 config static 2026-11-12 18:29
regulatory_status 45 45.0 config static 2026-11-12 18:29
Smart Contract
admin_key_risk 65 65.0 config static 2026-11-12 18:29
blacklist_capability 0 100.0 config static 2026-11-12 18:29
bug_bounty_score 2.5e+05 100.0 config static 2026-11-12 18:29
contract_verified 1 100.0 etherscan live 2026-11-12 18:29
exploit_history 0 100.0 config static 2026-11-12 18:29
pausability 0 100.0 config static 2026-11-12 18:29
Transparency
attestation_frequency 7 95.0 config static 2026-11-12 18:29
attestation_freshness 388 20.0 cda_reducto_pdf cda 2026-11-12 18:29
auditor_quality 3 60.0 config static 2026-11-12 18:29
cash_equivalents_pct 0 0.0 static static 2026-11-12 18:29
custodian_diversification 1 35.0 cda_reducto_pdf cda 2026-11-12 18:29
transparency_url_exists 1 100.0 config static 2026-11-12 18:29

Evidence

Raw JSON · Score History · Witness Archive · Methodology Spec

Re-derivation

Inputs hash: 672161659f8a0f952b400239abac78f2

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.