# Overview Ethena’s API is used to mint and redeem USDe. In addition to the information on this page, interactive documentation is available [here.](https://public.api.ethena.fi/docs/) We offer the ability to stream indicative quotes, perform a formal RFQ and finally submitting of signed orders. Only whitelisted users are able to successfully interact with the API interface. We recommend reaching out in our discord if you would like to be whitelisted. **Addresses on Ethereum mainnet** USDe: 0x4c9EDD5852cd905f086C759E8383e09bff1E68B3 Ethena Mint and Redeem Smart Contract: 0xe3490297a08d6fC8Da46Edb7B6142E4F461b62D3 These addresses are the production USDe and minting contract. Care should be taken using them as real value will be transferred. [Mint & Redeem Smart Contract ABI](https://gist.github.com/mcevoyinit/0660818e968a6a46603e06fa80b20d40) ### **Server location** Ethena's infrastructure is hosted on AWS Asia Pacific (Hong Kong) region, ap-east-1. Low latency with our infrastructure is necessary to algorithmically mint or redeem with Ethena as quotes are valid for limited time. ### Connection URLs Whitelisted users are able to use either ### SDKs There are both [Python and TypeScript SDKs available](https://github.com/ethena-labs/ethena-minting-client). ### Approvals Added to Whitelisted Addresses Ensure you have approved the [Mint & Redeem Smart Contract](https://etherscan.io/address/0xe3490297a08d6fC8Da46Edb7B6142E4F461b62D3) for your whitelisted wallet addresses. ### Pair Availability Endpoint This endpoint returns the pairs available to directly mint & redeem with. **No parameters required** **Our response** key | key | Possible values | Description | | ------ | --------------------------- | ------------------------------------------ | | mint | \["USDT/USDE", "USDC/USDE"] | The available pairs to directly mint with. | | redeem | \["USDT/USDE", "USDC/USDE"] | | **Example request** **Example response** 
{
    "mint": [
    "USDC/USDE",
    "USDT/USDE"
    ],
    "redeem": [
    "USDC/USDE",
    "USDT/USDE"
    ]
}
### RFQ Request Endpoint Call the RFQ endpoint to receive a formal mint/redeem quote. Quotes are valid for 15 minutes upon us sending our response. **Your request** Key | Key | Required | Possible Values | Description | | ---------- | -------- | --------------------- | -------------------------------------------------------------- | | pair | true | USDT/USDe, USDC/USDe | collateral/usde pairs we support | | side | true | mint,redeem | | | size | true | 21.2918 | size of asset you will send us. USDT for mint, USDe for redeem | | benefactor | true | {benefactor\_address} | String of the ETH wallet address | **Our response** | Key | Possible values | Description | | -------------------------- | ------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | rfq\_id | RFQ-B7MT6QD2JKFFC | Unique ID to be sent back to us when submitting order | | pair | USDT/USDe, USDC/USDe | collateral/usde pairs we support | | side | mint, redeem | | | size | true1 | size of asset you will send us. USDT for mint, USDe for redeem. | | amount | 1552.2695 | amount of asset you will receive, before gas. USDe for mint, USDT for redeem. | | collateral\_asset\_address | 0xae7ab96520DE3A18E5e111B5EaAb095312D7fE84 | The non-USDe asset in the transaction | | usde\_address | 0x8191DC3053Fe4564c17694cB203663d3C07B8960 | Address of USDe | | collateral\_amount | 1000000000000000000 | Use this value for EIP712 signature. For mints, this is the same as size but in 18 decimals. For redeems, this is amount minus gas converted to USDT in 18 decimals | | usde\_amount | 1550198770000000000000 | Use this value for EIP712 signature. For redeems, this is the same as size but in 18 decimals. For mint, this is amount minus gas in 18 decimals | | gas | 2.070727513 | the gas price of this tx in USD. | **Example mint RFQ request** **Response** 
{
    "amount": "99900.000",
    "collateral_amount": "100000000000",
    "collateral_asset_address": "0xdAC17F958D2ee523a2206206994597C13D831ec7",
    "gas": "32.490274776",
    "minting_contract_address": "0xe3490297a08d6fC8Da46Edb7B6142E4F461b62D3",
    "pair": "USDT/USDe",
    "rfq_id": "RFQ-P9Y4SVP5EZ8UW",
    "side": "MINT",
    "size": "100000",
    "usde_address": "0x4c9EDD5852cd905f086C759E8383e09bff1E68B3",
    "usde_amount": "99867509700000000000000"
}
**Example redeem RFQ request** **Response** ``` { "amount": "99500.000", "collateral_amount": "100000000000", "collateral_asset_address": "0xdAC17F958D2ee523a2206206994597C13D831ec7", "gas": "30.890409055", "minting_contract_address": "0x8a39215693aaB95038727fB31EBe19ce18903885", "pair": "USDT/USDe", "rfq_id": "RFQ-Z0PHAGLVWZ0J5", "side": "MINT", "size": "100000", "usde_address": "0x2dFaF238B8255826A160432126E0BC5db20c33e9", "usde_amount": "99469109500000000000000" } ``` #### Error Codes | Error Code | HTTP Status Code | Message | | ---------- | ---------------- | -------------------------------------------------------------- | | 0 | 400 | Invalid RFQ payload. Missing required fields. | | 1 | 400 | Temporarily unavailable | | 2 | 400 | Collateral asset not supported. | | 3 | 400 | Pair is not supported. | | 4 | 400 | Side value is not supported. | | 5 | 400 | Too many significant figures for size value. | | 6 | 400 | Size can only include numbers. | | 7 | 400 | Size must be non zero and positive. | | 8 | 400 | Size must be enough to cover the incurred gas cost. | | 9 | 400 | Size exceeds Ethena set capacity per block. | | 10 | 400 | Wallet address not whitelisted. Please contact Ethena. | | 11 | 400 | Insufficient collateral asset in wallet. | | 12 | 400 | Insufficient collateral asset approval for Ethena to transfer. | | 13 | 400 | Insufficient USDe balance in wallet. | | 14 | 400 | Insufficient USDe approval for Ethena to transfer. | | 15 | 400 | Asset currently not active | | 16 | 400 | Type\_ value is not supported. | ## Fees Endpoint Call the Fees endpoint to retrieve the fee schedule. The endpoint returns the applicable fees (in basis points) for each supported token. ### Your Request | Key | Type | Required | Description | | ------------ | ------ | -------- | ----------------------------------------------------------------------------------- | | `benefactor` | string | Yes | The Ethereum wallet address to check fees for. Must be a valid checksummed address. | ### Our Response | Key | Type | Description | | ---------------- | ------- | -------------------------------------------------- | | `benefactor` | string | The checksummed Ethereum address that was queried. | | `fees` | array | Array of fee objects for each supported token. | | `fees[].token` | string | The token symbol (e.g., "USDT", "USDC"). | | `fees[].fee_bps` | integer | The fee in basis points (1 bps = 0.01%). | ### Example Request ``` GET https://public.api.ethena.fi/fees?benefactor=0x0000000000000000000000000000000000000020 ``` ### Example Response ```json { "benefactor": "0x0000000000000000000000000000000000000020", "fees": [ { "token": "USDT", "fee_bps": 10 }, { "token": "USDC", "fee_bps": 10 }, { "token": "DAI", "fee_bps": 15 } ] } ``` ### Fee Calculation * Fees are expressed in **basis points (bps)**, where 1 bps = 0.01% * For example, a fee of `10` bps means a 0.10% fee will be applied * Different tokens may have different fee rates ### Error Codes | Error Code | Error Name | HTTP Status | Description | | ---------- | ------------------------------------------ | ----------- | ----------------------------------------------------------------------------------------------------- | | `1` | Temporarily unavailable, please try again. | 400 | No fee data is currently available, or there was an error retrieving fees. Please retry your request. | | `29` | Invalid payload | 400 | The `benefactor` parameter is missing or the provided address is not a valid Ethereum address. | ### Orders Submission Endpoint After receiving the RFQ response, if you wish to execute the order as quoted, sign an EIP-712 signature using the usde\_amount and collateral\_amount values. Our system only accepts orders with matching values for the 2 fields, and if the order is submitted and received within 15 minutes of our previous RFQ response. The order process has no interaction with the smart contracts as Ethena receives your orders, passes them through checks, then submits the order onchain. For EIP-1271 users, you must add the signature\_type parameter with the value EIP1271 to the request. The default is EIP712 so the former is only required if you're using EIP-1271. `url = {ethena_url}order?signature={signature_hex}&signature_type=EIP1271` **Example payload** | key | value | Description | | --------- | ------------------------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------- | | signature | 0xf80a44c799d13f257fa25459a9e2d36dadfea48a78f699de3f09fc3009a0e92d63b51ce85003c95cd7f4b80c271659092b898192d83fcd0dc1e3aae7483d59931b | Resulting signature from signing the order | | order | See EIP712 signature ORDER\_TYPE below | The order in plain json that they used to sign and create the signature | {% code overflow="wrap" %} ``` curl -d '{ "order_id": "RFQ-N9Y9T2Z6MXFNS", "benefactor": "0x0000000000000000000000000000000000000020", "beneficiary": "0x0000000000000000000000000000000000000020", "collateral_amount": "8995495840000", "collateral_asset": "0xdAC17F958D2ee523a2206206994597C13D831ec7", "expiry": 1764067729, "nonce": 1727791471438686, "order_type": "MINT", "usde_amount": "8999996000000000000000000" }' -H "Content-Type: application/json" -X POST "https://public.api.ethena.fi/order?signature=0xd7c436757d3b7f6fc0c7a3adb2a68d7b48a4bbf08daff521629e0a081466e15f0b8a08bab0a67e90d9d2e0307e021b2530abea5c71b36ba21a2982a6f5d855e31c" ``` {% endcode %} **Response** ``` { "tx":"0xbf4d5dce0e482b7cfd3e0ac714a0bb1b67d2c777668048e257b7fd3e9fb68980" } ``` **The tx that went onchain** `https://etherscan.io/tx/0xbf4d5dce0e482b7cfd3e0ac714a0bb1b67d2c777668048e257b7fd3e9fb68980` **EIP712 signature ORDER\_TYPE** `bytes32 private constant ORDER_TYPE = keccak256( "Order(string order_id, uint8 order_type, uint256 expiry, uint256 nonce, address benefactor, address beneficiary, address collateral_asset, uint256 collateral_amount, uint256 usde_amount)" );` **Comment** | order key | values | Notes | | ------------------ | ------------------------------------------ | ------------------------------------------------------------------------------------------------------------ | | order\_id | RFQ-N9Y9T2Z6MXFNS | Unique identifier returned in the RFQ endpoint response. This ID must be included when submitting the order. | | order\_type | 0 or 1 | 0 for mint, 1 for redeem | | expiry | 1764067729 | Use an expiry of current time + 45s | | nonce | 256 | Use a unique int for each order. eg timestamp | | benefactor | 0x0000000000000000000000000000000000000020 | Address of signer. address where the asset is taken from (USDT for mint, USDe for redeem) | | beneficiary | 0x0000000000000000000000000000000000000020 | Address that receives funds. (USDe for mint, USDT for redeem). | | collateral\_asset | 0xdAC17F958D2ee523a2206206994597C13D831ec7 | USDT address | | collateral\_amount | 8995495840000 | Amount of USDT in 18 decimals. Use the exact value provided in RFQ | | usde\_amount | 8999996000000000000000000 | Amount of USDe in 18 decimals. Use the exact value provided in RFQ | **Example raw order (before signing)** ``` { "order_id": "RFQ-N9Y9T2Z6MXFNS" "benefactor":"0x0000000000000000000000000000000000000020", "beneficiary":"0x0000000000000000000000000000000000000020", "collateral_amount":"8995495840000", "collateral_asset":"0xdAC17F958D2ee523a2206206994597C13D831ec7", "expiry":1764067729, "nonce":1727791471438686, "order_type":"MINT", "usde_amount":"8999996000000000000000000" } ``` **Our response** We will either respond with a tx hash, where your order passed our checks and is sent to the blockchain or a failure message with a reason for failure. The most common failure reasons include an invalid EIP-712 signature, submitting an order after the quote has expired or not having sufficient assets in your address for the mint or redeem. #### Error Codes | Error Code | HTTP Status Code | Message | | ---------- | ---------------- | ------------------------------------------------------------------------------------------------------------ | | 1 | 400 | Temporarily unavailable | | 10 | 400 | Wallet address not whitelisted. Please contact Ethena. | | 11 | 400 | Insufficient collateral asset in wallet. | | 12 | 400 | Insufficient collateral asset approval for Ethena to transfer. | | 13 | 400 | Insufficient usde balance in wallet. | | 14 | 400 | Insufficient usde approval for Ethena to transfer. | | 15 | 400 | Invalid signature. | | 16 | 400 | Order payload invalid or does not match RFQ. | | 17 | 400 | Size greater than available capacity for this block. | | 18 | 400 | RFQ expired. | | 19 | 400 | Invalid RFQ. | | 20 | 400 | Please try again. The market moved too much. | | 21 | 400 | Execution request already being processed. | | 22 | 400 | Already successfully executed this block. | | 23 | 400 | Present time greater than order expiry. Execution not submitted to blockchain. | | 24 | 400 | Duplicate nonce | | 25 | 400 | Benefactor not whitelisted | | 26 | 400 | Beneficiary not whitelisted. User on-chain transaction required. | | 27 | 400 | Incorrect USDe minter. Switch Minting API | | 28 | 429 | Benefactor has reached throttle limit. Please wait until the limit resets or contact support for assistance. | | 29 | 400 | Invalid payload | | 30 | 400 | Invalid address | | 31 | 400 | Fees not applicable | | 32 | 400 | Slippage is too high for delegate-signed order | | 33 | 400 | No pricing source found for validating asset price with alternative source | | 34 | 400 | Insufficient minting contract balance | | 35 | 404 | Order not found. Please verify the order ID is correct. | | 36 | 202 | Order submitted but transaction not yet mined. Please wait and try again. | ### Order Confirmation Endpoint After submitting an order, you can check its execution status using the order confirmation endpoint. This is useful for: * Confirming your order was executed on-chain * Checking if a transaction is still pending * Understanding why an order was rejected before execution **Your request** | Key | Required | Possible Values | Description | | --------- | -------- | ----------------- | ------------------------------------------------------------ | | order\_id | true | RFQ-ABC123XYZ4567 | The RFQ ID returned from the RFQ endpoint. Case-insensitive. | **Note:** The `order_id` can be provided with or without the `RFQ-` prefix. Both `RFQ-ABC123XYZ4567` and `ABC123XYZ4567` are accepted and normalized to uppercase. **Example request** **Our response** The response varies based on the order status: | Status | HTTP Code | Description | | ---------- | --------- | ----------------------------------------------------------- | | executed | 200 | Order was successfully executed on-chain | | reverted | 200 | Order was submitted but reverted on-chain | | pending | 202 | Order submitted but transaction not yet mined | | rejected | 400 | Order failed validation and was not submitted to blockchain | | not\_found | 404 | No order found with this ID | **Example response: Executed order** ``` { "order_id": "RFQ-ABC123XYZ4567", "tx_hash": "0xbf4d5dce0e482b7cfd3e0ac714a0bb1b67d2c777668048e257b7fd3e9fb68980", "status": "executed", "etherscan_link": "https://etherscan.io/tx/0xbf4d5dce0e482b7cfd3e0ac714a0bb1b67d2c777668048e257b7fd3e9fb68980" } ``` **Example response: Pending order** ``` { "error": { "error_name": "Order submitted but transaction not yet mined. Please wait and try again.", "error_code": "36" }, "order_id": "RFQ-ABC123XYZ4567", "tx_hash": "0xbf4d5dce0e482b7cfd3e0ac714a0bb1b67d2c777668048e257b7fd3e9fb68980", "status": "pending", "etherscan_link": "https://etherscan.io/tx/0xbf4d5dce0e482b7cfd3e0ac714a0bb1b67d2c777668048e257b7fd3e9fb68980" } ``` **Example response: Rejected order (failed validation)** ``` { "error": { "error_name": "Insufficient collateral asset in wallet.", "error_code": "11" }, "order_id": "RFQ-ABC123XYZ4567", "status": "rejected" } ``` **Example response: Order not found** ``` { "error": { "error_name": "Order not found. Please verify the order ID is correct.", "error_code": "35" }, "order_id": "RFQ-NOTFOUND12345", "status": "not_found" } ``` **Example response: Invalid order\_id format** HTTP Status: 400 ``` { "error": "Order ID is malformed or incorrect. Expected format: RFQ-XXXXXXXXXXXXX", "order_id": "INVALID" } ``` **Error Codes** | Error Code | HTTP Status Code | Message | | ---------- | ---------------- | ------------------------------------------------------------------------- | | 1 | 400 | Temporarily unavailable | | 29 | 400 | Invalid payload (missing order\_id) | | 35 | 404 | Order not found. Please verify the order ID is correct. | | 36 | 202 | Order submitted but transaction not yet mined. Please wait and try again. | **Recommended Polling Strategy** For programmatic usage, we recommend: 1. After submitting an order, wait 5-10 seconds before first poll 2. Poll the endpoint every 5 seconds 3. Stop polling when status is `executed`, `reverted`, or `rejected` 4. Timeout after 5 minutes if order remains `pending`
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