Restaking Vault ETH
RSTETH
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
RSTETH (Restaking Vault ETH) represents a liquid restaking vault asset, with evaluation data showing substantial challenges across market presence and protocol security. Active Development lacked sufficient data (-1.0) and was excluded from the weighted score, with its 20% weight redistributed across remaining categories. Community Support (2/10) reflects minimal organic engagement and reliance on incentive programs. Market and Use Case (3/10) suffers from near-zero trading volume, low limit utilization, and heavy competition. Tokenomics (6/10) features a clean deposit/burn mechanism without unlock overhangs, and Team and Governance (6.5/10) benefits from professional curation by P2P.org and Re7 Labs despite centralized 2/3 multisig controls. Security and Audit History (2/10) is impaired by a catastrophic incident: 'On approximately April 18–20, 2026, Kelp DAO's rsETH was drained of ~116,500 rsETH (~$292–293M) via its LayerZero cross-chain bridge/adapter contract, with the attacker's wallet funded through Tornado Cash'. Although remediation occurred, this severe recent exploit and associated depeg reinforce substantial protocol risks.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Restaking Vault ETH (RSTETH)
RSTETH (Restaking Vault ETH) is an ERC-20 liquid restaking vault token operating on the Ethereum blockchain. Built on Mellow Protocol, the vault is curated by Re7 Labs alongside staking provider P2P.org as co-curator. RSTETH accepts wrapped staked ETH (wstETH) deposits and functions as an elastic receipt token that is minted upon deposit and burned upon withdrawal. The token's underlying value accrues through Lido staking yields combined with restaking exposure via Symbiotic, subject to a 10% curation fee.
Governance of the vault is centralized, managed through a 2/3 multisignature scheme controlled by P2P without decentralized on-chain token-holder voting mechanisms. The project operates within a competitive restaking sector and exhibits thin secondary trading volume, low utilization rates, and an on-chain total value locked (TVL) of approximately 2,176 wstETH (around $5.1 million to $5.3 million).
Protocol security analyses document significant risks and past security incidents associated with the restaking instrument. In April 2026, an exploit targeting the LayerZero cross-chain bridge adapter contract drained approximately 116,500 rsETH (valued at roughly $292 million to $293 million), representing the protocol's second major security incident within a year. Although security responders paused contracts to prevent further losses, whitehats rescued 1,400 ETH, and full restoration was completed by late May 2026, the incident caused a temporary depeg where the asset dropped to approximately 0.92 ETH before stabilizing near 0.97 ETH. The exploit also drained liquidity pools and prompted lending platform Aave to freeze affected markets to prevent bad-debt accumulation.