USDe Risk Audit / History
Earlier reports and their saved context
Historical research is a dated record. It remains accessible without becoming a current setting, a reserve estimate or a fresh test.
Historical material keeps its original evidence dates. These reports and saved context pages are available as a record of what was examined and concluded at the time. For the latest assessment use USDe: backing, control and the ability to exit. For every report in one catalogue, use All research reports.
Historical reports
- Historical report
Off exchange does not mean ready to pay.
Custody, venue settlement and asset-specific release conditions; a hypothetical payment ledger and the limits of unread assurance. Research dated 13 September; the earlier control snapshot is not refreshed.
- Historical report
A signed redemption is not a completed exit.
Holding-user versus Mint-user eligibility, operator submission and the inspected atomic settlement boundary. Source-model checks are not current funded-redemption tests.
- Historical report
Unstaking is not the same as getting out.
Share burning, fixed queued USDe, reward accounting, timer changes and source-level control paths. The dated one-day snapshot is not a bank-payment guarantee.
- Historical report
Who can change USDe’s rules?
Core source and the supplied Ethereum observation at block 25,952,841, 11 September 2026, 08:03:35 UTC. Read its then-unresolved control links with that date attached.
- Historical report
What do you actually get back?
Direct, staked and nested claims; historical source analysis and dated backing arithmetic. The November 2025 calculation is not current reserve coverage.
Saved context · 14 September 2026
These four pages preserve the surrounding explanation and inspection scope of the earlier reports. They are historical subpages, not alternative current assessments.
The dates that most easily get confused
Control state: the older supplied Ethereum snapshot is block 25,952,841, 11 September 2026, 08:03:35 UTC. Newer state observations do not change what was or was not established at that older block. Later core observations.
Backing arithmetic: the first historical report’s approximately 101% calculation uses the issuer’s 26 November 2025, 23:59 UTC disclosure. It was an arithmetic check, not inspected underlying custody letters or a September 2026 reserve statement. Read the historical calculation in context.
Source inspection: an earlier source-model test or provider bundle is not a fresh transaction, independent deployment rebuild or proof of current recovery. The 18 September assessment identifies its own source and observation limits. Evidence trail.