Can you verify Staked Ethena USDe (sUSDe) reserves yourself?
You can read part of sUSDe's backing on-chain yourself; the rest rests on an off-chain layer you take on an attestation.
Staked USDe (ERC-4626). The on-chain exchange rate to USDe is readable; the underlying USDe carries Ethena's post-overhaul mixed backing (stablecoin reserves, lending and RWA, with the crypto basis trade de-concentrated to roughly 11%), attested rather than holder-verifiable.
What you cannot verify yourself: The same off-exchange custodied backing, lending and RWA allocations, and hedge as USDe.
Hedge leg: Inherits USDe's off-exchange hedge and post-overhaul mixed backing, confirmed by trusted attestation.
Issued by Ethena Labs. "Partly attestor-required" describes the structure of the verification, not the quality of the issuer.
Run this on sUSDe yourself, or get a signed record of it.
The read below is free and live. Or get a machine-signed, point-in-time read of this exact address in about two minutes, that anyone you forward it to can verify in three lines without trusting you.
Signed on the page after you pay in USDC on Base: no email, no wait. It signs public on-chain bytes only (supply, decimals, and symbol at a block), not a solvency opinion and not a claim about who controls the address. Issuing a dollar of your own? The GENIUS-readiness kit is $999 setup then $99 a month. Not compliance and not an audit.
Live supply, and the command that reproduces it
What this read establishes: On-chain supply and the on-chain exchange rate to USDe.
Reproduce the supply read yourself
cast call 0x9d39a5de30e57443bff2a8307a4256c8797a3497 "totalSupply()(uint256)" --rpc-url https://ethereum-rpc.publicnode.comcast call 0x9d39a5de30e57443bff2a8307a4256c8797a3497 "symbol()(string)" --rpc-url https://ethereum-rpc.publicnode.comPrefer curl? Show the raw JSON-RPC call
curl -s -X POST https://ethereum-rpc.publicnode.com -H 'content-type: application/json' --data '{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0x9d39a5de30e57443bff2a8307a4256c8797a3497","data":"0x18160ddd"},"latest"]}'Live supply is read from the chain and cached hourly on this page; the command above is real-time. Always confirm you are reading the canonical contract address. A look-alike token can copy any name or symbol; only the address is identity.
Other synthetic delta-neutral tokens
Also: the reserve transparency scorecard, the Stablecoin Reserve Recomputation Report, every stablecoin we cover, or paste any address into the free tool.
Kerne is infrastructure and a service provider, not an auditor, a rating agency, a custodian, or an investment adviser. This page reads public on-chain data and names publicly disclosed transparency methods. It is not an audit, a solvency or credit opinion, a recommendation, or any form of investment, legal, tax, or accounting advice, and the appearance of sUSDe is not an endorsement. Reserve-transparency descriptions are sourced from Ethena Labs's public disclosures and, where the token is listed there, the Kerne synthetic-dollar scorecard, cross-verified June 29 to July 3, 2026; verify at the canonical sites. Kerne is not affiliated with Ethena Labs or any attestor named here. Page reviewed 2026-07-03. Last updated July 3, 2026.