What is Hydra Bridged sUSDe (Hydra) (HYUSD)?
hyUSD is a Hydra-native, collateralized wrapper token — fully backed 1:1 by sUSDe, the yield-bearing stable asset from Ethena Labs. sUSDe represents staked USDe, which is minted against deposits of BTC, ETH, and other stablecoins. Ethena operates under a delta-neutral strategy, where collateral assets are held long while an equivalent short futures position offsets price exposure — generating sustainable yield from funding rate differentials.
Where can you buy Hydra Bridged sUSDe (Hydra)?
Hydra Bridged sUSDe (Hydra) (HYUSD) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for HYUSD sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
The price and 24-hour volume on this page combine the exchanges ReadPrices tracks for HYUSD. Before you trade, compare the fee schedule and the order-book depth on the venue you plan to use: the same coin can cost noticeably more to buy on a thin market.