Ethena

What we monitor

• USDe Backing Ratio(collateral + reserve fund) / supply < 1.0 (CRITICAL) or < 1.005 (HIGH) via Ethena transparency API
• On-Chain Supply ConsistencyEthena API USDe supply vs on-chain totalSupply() differs by > 0.5%
• Data FreshnessSupply or reserve fund data older than 3 hours

Alerts are also streamed toTelegramin real time.