> For the complete documentation index, see [llms.txt](https://docs.ethena.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ethena.fi/solution-overview/risks.md).

# Risks

## Risks of *USDe* as Synthetic Dollar

Ethena is committed to transparency. It is crucial to highlight the risks associated with *USDe,* the actions taken to mitigate these risks, as well as plans to further manage and ameliorate these risks.

This section will discuss the following risks:

1. [Funding Risk](/solution-overview/risks/funding-risk.md)
2. [Liquidation Risk](/solution-overview/risks/liquidation-risk.md)
3. [Custodial Risk](/solution-overview/risks/custodial-risk.md)
4. [Exchange Failure Risk](/solution-overview/risks/exchange-failure-risk.md)
5. [Backing Assets Risk](/solution-overview/risks/backing-assets-risk.md)
6. [Stablecoin-Related Risk](https://app.gitbook.com/o/uL0A7ZhBdOBWE4R46usw/s/sBsPyff5ft3inFy9jyjt/~/changes/194/solution-overview/risks/stablecoin-related-risks)
7. [Margin Collateral Risk](https://app.gitbook.com/o/uL0A7ZhBdOBWE4R46usw/s/sBsPyff5ft3inFy9jyjt/~/changes/194/solution-overview/risks/draft-margin-collateral-risks)

We would greatly appreciate any feedback or information you would like to see to help the protocol be as transparent as possible. If you believe any risk has not been adequately surfaced please reach out in Discord and notify the contributors.


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