Stake DAO
SDT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Stake DAO (SDT) presents a mixed profile characterized by resilient technical development alongside critical market, security, and tokenomic weaknesses. On the positive side, Active Development scored high (8.5/10) with the delivery of Staking v2, vlSDT governance migration, and regular development cadence. Team and Governance (5.5/10) remains functional with transparent Snapshot execution and public leadership. However, the protocol faces significant headwinds across other verticals: Community Support is dormant (2.5/10), Tokenomics (3.5/10) is constrained by supply overhang and inflation, and Market performance (3.0/10) reflects micro-cap status with negligible daily trading volume under $800 and a 99% drawdown from all-time highs. In Security (3.5/10), Stake DAO suffered two exploits in 2026—a Votemarket oracle manipulation in March 2026 (~$176K) and an Arbitrum deployer key compromise in May 2026 (~$91K realized)—illustrating operational key management risks despite multi-firm audits. Because aggregate financial losses remained below the $1M threshold, neither incident triggered the red-flag cap rule, but both heavily impact the project's risk outlook. No sections had missing data.
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 Stake DAO (SDT)
Stake DAO (SDT) is a decentralized finance yield-optimization and governance-boosting platform founded by Julien Bouteloup. Operating primarily on Ethereum with deployments on Polygon and Arbitrum, the protocol offers Liquid Lockers and sdTokens, a Concentrator, VoteBooster, curated yield vaults, lending markets, and Votemarket. SDT serves as the native governance token, with protocol emissions managed through a MasterChef contract. The protocol migrated its governance architecture from the legacy veSDT model to vote-locked SDT (vlSDT), which incorporates an eight-week cooldown and provides governance voting power, sdToken boost multipliers up to 2.5x, and USDC fee allocations.
While the protocol has executed technical releases such as Staking v2 on Curve and Morpho markets and Votemarket Pendle, SDT exhibits market and tokenomic pressures. The token has experienced a drawdown exceeding 99% from its all-time high of $16.63 down to approximately $0.10, alongside daily trading volume under $800. The token structure is also characterized by a heavy non-circulating supply overhang of approximately 41 million SDT against a total supply of 65 million and a maximum cap of 100 million, coupled with subdued on-chain activity across roughly 4,115 token holders.
Stake DAO has completed security audits with firms including ChainSecurity, Omniscia, Trust Security, Pashov Audit Group, and Zach Obront. However, the platform experienced two separate exploits in 2026. On March 12, 2026, a sender-validation vulnerability in the Votemarket V2 oracle updater on Arbitrum and Base resulted in the unauthorized extraction of approximately $176,000 across 54 campaigns. On May 27, 2026, a compromised deployer private key allowed an attacker to alter the LayerZero bridge configuration for vsdCRV, minting over 5.4 trillion unbacked derivative tokens and realizing approximately $91,170 in ETH before bridging. Stake DAO subsequently introduced governance proposal SDGP-70 to provide remediation for users impacted by the vsdCRV breach.