Soda Labs

Ethena

Synthetic dollar protocol

Token issuer or protocolNo privacy yet

USDe is a plain ERC-20 with fully transparent balances and no public confidentiality work. The documentation covers whitelist gating for mint and redeem, and openly describes collecting on-chain data. For a product whose whole mechanism is a hedged position, public flows are strategy leakage.

Private by design.

See how confidential transactions work on the networks you already use.