Stress Testing
Loop liquidation risk and redemption cascade scenarios against live tier liquidity.
Loop Controls
Models an outside actor borrowing against USDe or sUSDe collateral on the selected venue. Does not change Ethena's own lending balance.
Liquidation cliff = USDe/sUSDe price decline before the loop is wiped. Loop liquidations add sell pressure on the same venue where Ethena lends.
Loop Results
Leverage multiplier
3.29Ă—
Modeled loop USDe demand
$164.40M
New Aave utilization
61.44%
Est. USDe/sUSDe price decline to liquidation
19.08%
Third-Party USDe Demand per Loop Iteration
Each bar shows new USDe posted as collateral in one recycle step of the modeled loop.