Ethena Labs

Ethena Labs is the crypto-native protocol behind USDe, a synthetic dollar backed by spot crypto assets, onchain custody, and delta-neutral hedging positions on centralized liquidity venues, alongside the staked savings instrument sUSDe (the "Internet Bond"), the governance token ENA, and USDtb. Ethena exposes a public Minting API for whitelisted institutional participants to mint and redeem USDe: a request-for-quote (RFQ) flow returns firm 15-minute quotes that are signed with EIP-712 (or EIP-1271 for smart-contract wallets) and submitted onchain. This profile was surfaced as a portfolio company of Ribbit Capital and enriched with the real developer surface documented at docs.ethena.fi.

Ethena Labs is listed with 1 API on the APIs.io network. Tagged areas include Company, Cryptocurrency, Stablecoins, DeFi, and Synthetic Dollar.

Ethena Labs’ developer surface includes engineering blog, documentation, API reference, getting-started guide, support, authentication, changelog, and 19 more developer resources.

🌐 Visit website 📡 Profile data on GitHub

35.0/100 thin ▬ flat Agent 9/100 agent aware Front door AI 1/6 silent saas Full breakdown ↓
scored 2026-10-31 · rubric v0.25.0 · Show this score on your site →

1 API

Company Cryptocurrency Stablecoins DeFiSynthetic DollarMinting Blockchain Ethereum

Kin Score

Kin Score How this is scored →
scored 2026-10-31 · rubric v0.25.0

Composite quality — 35.0/100 · thin

Contract Quality 0.0 / 21

Developer Ergonomics 10.9 / 17

Access Clarity 3.1 / 17

Operational Transparency 6.1 / 11

Contract Governance 1.9 / 10

Discoverability 5.6 / 9

Regulatory Posture 4.7 / 15

Agent readiness — 9/100 · agent aware

Machine-Readable Contract 0 / 18

Agentic Access Contract 0 / 10

Documented Reversibility 0 / 6

MCP Server 0 / 12

Machine-Readable Auth 10 / 10

Idempotency 9 / 9

Stable Error Semantics 8 / 8

Request/Response Examples 0 / 7

Rate-Limit Signaling 0 / 7

Typed Event Surface 0 / 6

Agent Skills 0 / 5

Well-Known Catalog 0 / 4

Consent & Bot Identity 0 / 3

A2A Agent Card 0 / 8

Dry-Run / Simulate Mode 0 / 4

Delegated User Identity 0 / 6

Protected Resource Metadata 0 / 5

Registration Without a Human 0 / 6

Agentic Commerce Well-Known Document 0 / 5

Pagination 5 / 5

Distinct Operations 3 / 3

Regulatory Posture applies to this provider. Its tags matched the Horizontal (data, software, accessibility, platform) regime, so Regulatory Posture carries 15 points of the composite. If this regime is wrong for your business, say so on your provider repo — the applicability map is public and we will correct it.

Create-or-Update Ergonomics could not be measured. We hold no machine-readable contract for this provider to read, so there is nothing to measure a write surface against. Excluded rather than scored zero: never-measured and measured-empty are different facts. Publishing an OpenAPI is what makes this facet — and several others — scorable at all.

The six quality facets above are damped to 85 points between them, because the conditional facet above carries the other 15. That is why each facet's contribution is shown against a damped maximum: raising a quality facet moves the composite by 85% of its nominal weight, not 100%. The full arithmetic is at apis.io/rating/.

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Agent readiness — checks not met, largest first (exact, from this profile):

Machine-Readable Contract +18 pts — api_specs includes an OpenAPI document
MCP Server +12 pts — deployment.mode + probe verdict on the mcp/ manifest, not the pointer; an unprobed slug falls back to authorship
Agentic Access Contract +10 pts — agentic_access artifact present (x-agentic-access), graded by author
A2A Agent Card +8 pts — a2a/-a2a.yml manifest, graded on conformance.grade against A2A 1.0.0
Rate-Limit Signaling +7 pts — OpenAPI responses document X-RateLimit-* / RateLimit headers (verified), else a rate_limits artifact or RateLimits link (documented)
Request/Response Examples +7 pts — share of operations carrying request/response examples; else an Examples / Code Samples link

10 more unmet checks in the Agent Readiness table above.

Kin Score — facets with the most composite points still available (weight × headroom):

Contract Quality scores 0.0 — up to +25.0 composite points
Access Clarity scores 18.4 — up to +16.3 composite points
Contract Governance scores 18.2 — up to +9.8 composite points

Each check links to what satisfies it. Publish the artifact, or tell us where it already lives, and the score moves on the next scoring run.

Improve this rating by publishing the missing artifacts — every area above can be raised, and the full rubric is at apis.io/rating/. Every facet and dimension name above is a link: it opens that measurement's own page — what it means, the exact checks that feed it, how the whole catalog distributes on it, and the providers at the top of it. This rating is computed from the provider profile at artifacts.apis.io/ethena-labs/apis.yml: open an issue on github.com/api-evangelist/ethena-labs to ask a question or point us at an artifact you publish. Submit an artifact on GitHub — free → Manage your own listing — the Influence plan, $499/mo →

Markets this provider is in provisional

The Kin Score Market layer reads a provider inside its market: its position, and how deep its integrations go. Depth is only comparable within a position. Provisional and unweighted: not part of the Kin Score or agent readiness.

Market	Position	Depth	Registered MCP server	Declares compatibility
Stablecoins and Tokenization (stablecoin issuers, tokenized assets)	undeclared	-	-	-

Registered MCP server and declares compatibility are report only — not weighted. Undeclared means we found nothing we can read, so there is no number: we never infer integrations.

APIs 1

Individual APIs this provider publishes, each with its own machine-readable definition.

Ethena Minting API

Public request-for-quote (RFQ) minting and redemption API for USDe. Whitelisted participants check asset availability, request a firm 15-minute quote, fetch the fee schedule, si...

Security Posture 3

Authentication, domain security, vulnerability disclosure, and trust-center signals.

Ethena Labs Authentication

ip-allowlist/wallet-allowlist/signature · 4 schemes

SECURITY

Ethena Labs Domain Security

TLSv1.3 · HSTS · DMARC

SECURITY

Ethena Labs Vulnerability Disclosure

contact published

SECURITY

Resources

Get Started 2

Portal, sign-up, and the first successful call

DeveloperPortal

DeveloperPortal

GettingStarted

GettingStarted

Documentation 2

Reference material describing how the API behaves

Documentation

Documentation

APIReference

APIReference

Agent Surfaces 2

MCP servers, agent skills, and machine-readable catalogs

LLMsTxt

LLMsTxt

X-MCPServerCandidate

X-MCPServerCandidate

Design & Contract 5

Pagination, idempotency, versioning, errors, and events

ErrorCatalog

Conventions

Idempotency

Lifecycle

Conformance

Build 3

SDKs, sample code, and the tooling you integrate with

GitHubOrganization

GitHubOrganization

Packages

Packages

SDKs

SDKs

Access & Security 5

Authentication, authorization, and security posture

TrustCenter

TrustCenter

Authentication

Authentication

VulnerabilityDisclosure

VulnerabilityDisclosure

Security

Security

DomainSecurity

DomainSecurity

Operate 4

Status, limits, changes, and where to get help

StatusPage

Support

Deprecation

ChangeLog

Commercial 1

Pricing, plans, and the legal terms of use

TermsOfService

TermsOfService

Company 2

The organization behind the API

Blog

Blog

Website

Website

Source (apis.yml)

aid: ethena-labs
name: Ethena Labs
description: 'Ethena Labs is the crypto-native protocol behind USDe, a synthetic dollar backed by spot crypto assets, onchain
  custody, and delta-neutral hedging positions on centralized liquidity venues, alongside the staked savings instrument sUSDe
  (the "Internet Bond"), the governance token ENA, and USDtb. Ethena exposes a public Minting API for whitelisted institutional
  participants to mint and redeem USDe: a request-for-quote (RFQ) flow returns firm 15-minute quotes that are signed with
  EIP-712 (or EIP-1271 for smart-contract wallets) and submitted onchain. This profile was surfaced as a portfolio company
  of Ribbit Capital and enriched with the real developer surface documented at docs.ethena.fi.'
url: https://raw.githubusercontent.com/api-evangelist/ethena-labs/refs/heads/main/apis.yml
x-type: company
x-source: vc-portfolio
x-backed-by:
- ribbit-capital
x-tier: stub
x-tier-reason: portfolio-lead
deliveryModel:
  model: saas
  open_source: false
  commercial: true
  callable_host: false
  label: Hosted service · you call their endpoint
  confidence: medium
  source:
  - pricing
  generated: '2026-08-28'
  method: derived
accessModel:
  pricing: unknown
  onboarding: unknown
  trial: false
  try_now: false
  public: false
  label: Unknown
  confidence: low
  source:
  - authentication
  generated: '2026-07-22'
  method: derived
specificationVersion: '0.23'
created: '2026-07-17'
modified: '2026-10-06'
image: https://ethena.fi/shared/ethena-logo.svg
x-docs-platform: gitbook
x-docs-platform-confidence: high
x-docs-platform-checked: 2026-10-03
tags:
- Company
- Cryptocurrency
- Stablecoins
- DeFi
- Synthetic Dollar
- Minting
- Blockchain
- Ethereum
tags_raw:
- Company
- Crypto
- Stablecoin
- DeFi
- Synthetic Dollar
- Minting
- Blockchain
- Ethereum
apis:
- name: Ethena Minting API
  description: Public request-for-quote (RFQ) minting and redemption API for USDe. Whitelisted participants check asset availability,
    request a firm 15-minute quote, fetch the fee schedule, sign the order with EIP-712 / EIP-1271, submit it onchain, and
    poll for order confirmation. Access is gated by IP whitelisting and onchain wallet-address whitelisting.
  humanURL: https://docs.ethena.fi/api-documentation/overview
  baseURL: https://public.api.ethena.fi
  tags:
  - Minting
  - Redemptions
  - RFQ
  - Stablecoins
  tags_raw:
  - Minting
  - Redemption
  - RFQ
  - Stablecoin
  properties:
  - type: Documentation
    url: https://docs.ethena.fi/api-documentation/overview
  - type: InteractiveDocumentation
    url: https://public.api.ethena.fi/docs/
  - type: Authentication
    url: authentication/ethena-labs-authentication.yml
  - type: ErrorCatalog
    url: errors/ethena-labs-error-codes.yml
  - type: Conventions
    url: conventions/ethena-labs-conventions.yml
  - type: Idempotency
    url: conventions/ethena-labs-conventions.yml
  - type: X-MCPServerCandidate
    url: mcp/ethena-labs-mcp.yml
    note: 'Renamed from MCPServer 2026-09-03 (roadmap#247): the manifest self-describes as status: candidate — a tool list
      derived from the published API contracts, not an existing server. The scorer already read the manifest and reported
      mcp_server correctly; the MCPServer type was crediting the artifact-type surfaces with a server that does not exist.'
maintainers:
- FN: Kin Lane
  email: kin@apievangelist.com
- FN: APIs.json
  email: info@apis.io
common:
- url: https://ethena.fi/blog
  type: Blog
- type: Website
  url: https://ethena.fi
- type: DeveloperPortal
  url: https://docs.ethena.fi
- type: Documentation
  url: https://docs.ethena.fi/api-documentation/overview
- type: APIReference
  url: https://public.api.ethena.fi/docs/
- type: GettingStarted
  url: https://docs.ethena.fi/technical-design/minting-usde
- type: GitHubOrganization
  url: https://github.com/ethena-labs
- type: StatusPage
  url: https://status.ethena.fi/
- type: TermsOfService
  url: https://docs.ethena.fi/resources/usde-mint-user-agreement
- type: TrustCenter
  url: https://docs.ethena.fi/resources/audits
- type: Support
  url: https://docs.ethena.fi
- type: LLMsTxt
  url: llms/ethena-labs-llms.txt
- type: Packages
  url: packages/ethena-labs-packages.yml
- type: SDKs
  url: packages/ethena-labs-packages.yml
- type: Authentication
  url: authentication/ethena-labs-authentication.yml
- type: ErrorCatalog
  url: errors/ethena-labs-error-codes.yml
- type: Conventions
  url: conventions/ethena-labs-conventions.yml
- type: Idempotency
  url: conventions/ethena-labs-conventions.yml
- type: Lifecycle
  url: lifecycle/ethena-labs-lifecycle.yml
- type: Deprecation
  url: lifecycle/ethena-labs-lifecycle.yml
- type: ChangeLog
  url: changelog/ethena-labs-changelog.yml
- type: Conformance
  url: conformance/ethena-labs-conformance.yml
- type: VulnerabilityDisclosure
  url: security/ethena-labs-vulnerability-disclosure.yml
- type: Security
  url: security/ethena-labs-vulnerability-disclosure.yml
- type: DomainSecurity
  url: security/ethena-labs-domain-security.yml
- type: X-MCPServerCandidate
  url: mcp/ethena-labs-mcp.yml
  note: 'Renamed from MCPServer 2026-09-03 (roadmap#247): the manifest self-describes as status: candidate — a tool list derived
    from the published API contracts, not an existing server. The scorer already read the manifest and reported mcp_server
    correctly; the MCPServer type was crediting the artifact-type surfaces with a server that does not exist.'
x-enrichment:
  date: '2026-07-19'
  status: backfilled
  pass: local-v1
  note: backfilled from .gitignore signal + verified work evidence

Ethena Labs API — frequently asked questions

Does Ethena Labs have an API?

Yes. APIs.io lists 1 API from Ethena Labs, including Ethena Minting API.

How do I authenticate with the Ethena Labs API?

Ethena Labs uses bearer-token authentication (ip-allowlist/wallet-allowlist/signature · 4 schemes). The details are profiled on APIs.io as Ethena Labs Authentication.

Is the Ethena Labs API ready for AI agents?

Ethena Labs has a Kin Score of 35.0 out of 100 (thin) and an Agent Readiness score of 8.6 (agent-aware), scored by API Evangelist on 2026-10-31.

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