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Scores/Ethena

Ethena

TEMPERED

Synthetic Stablecoin · Ethereum · $3B+ TVL · 10 contracts

Official site: ethena.fi ↗

730
3004756508251000
Confidence63%
Z-Factor0.58
Updated 2026-06-12Public score

Security Profile

Access Ctrl
70
Economic
55
Oracle
65
Compos.
60
Govern.
45
Maturity
62
Resilience
88
Supply Ch.
78
OpSec
42
Cascade
72
Min
42
Avg
64
Max
88

Audit History

Quantstamp
2024-01Report
Peckshield
2024-02
Code4rena
2024-10Report

Bug Bounty Program

$3,000,000
Max payout on Immunefi
View Program

Assessment

Novel synthetic dollar with extreme centralization (D5=45) and untested economic model (D2=55). CEX counterparty and custodian dependencies drag D3 and D4. High TVL does not compensate for fundamental design risks.

Dimension Breakdown

Methodology
10 dimensions · Updated 2026-06-12

Top Score Drivers

Dimensions with the greatest marginal impact on BRI.

Operational Security
42+39 potential
No branch protection detected
Governance & Upgradeability
45+35.8 potential
Highly centralized: team multisig controls all parameters
Economic Soundness
55+34.8 potential
Funding rate risk: negative rates erode backing, no on-chain hedge mechanism
Access Control
70+28.5 potential
Centralized role-based access control
Battle-Tested Maturity
62+25.4 potential
Live since Jan 2024 (~1.5 years)

Adversarial Risk Signals

Publicly verifiable security posture indicators.

Disclosure HistoryNot Assessed
Remediation VelocityNot Assessed
Bug Bounty ProgramNot Assessed
Audit CoverageNot Assessed
Incident HistoryNot Assessed
Deployed 2024-02-1910 dimensionsProvenance Ledger
methodology v2.1formula v1.1weights v1.1evidence sha256:sha256:5...

Score History & Verification

Score provenance tracking begins with the next reassessment.

Full provenance ledger

On-Chain Data

Protocol Slug
"ethena"
Oracle
BRORegistry (Base)
Evidence
IPFS (pinned)
Staleness Threshold
24 hours
Read Score
registry.getScore("ethena")
Reduce exploitable risk

Continuous adversarial analysis, vulnerability detection, and verified reassessment.

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