Wu said that according to the @ tomwanhh data panel, Ethena sUSDe and Sky sUSDs APY were 4.7% and 4.48% respectively, both of which have fallen close to the T-Bill yield of US treasury bond bonds (4.24%). Since April, the Ethena USDe pledge rate has fallen below 45%, and the supply of sUSDe has continued to decline from its peak of $4.5 billion at the end of December last year to approximately $2.11 billion.