Staked msUSD
SMSUSD
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
The evaluation for SMSUSD (Staked msUSD) reveals severe operational, market, and fundamental risks across all measurable categories, alongside major data gaps. Three sections—Active Development, Team and Governance, and Security and Audit History—lacked sufficient verifiable public data and were excluded from the weighted score calculation. Among the remaining scored areas, Community Support scored 2/10 due to an absence of dedicated community channels and a minimal holder base (441 holders). Tokenomics scored 4/10, reflecting severe peg deviations with the underlying msUSD trading at $0.68 against its $1.00 target, low APYs (1.52%), and heavy reliance on the core team. Market and Use Case scored 3/10 due to persistent deep peg discounts, frozen withdrawal liquidity on Morpho, and an unresolved proof-of-reserves dispute. With the weights redistributed among the three evaluable sections (Community: 30%, Tokenomics: 40%, Market & Use Case: 30%), the resulting weighted score is 3.1/10.
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 Staked msUSD (SMSUSD)
SMSUSD (Staked msUSD) is a staked receipt token associated with Main Street Finance, operating on the Sonic blockchain. The token functions within a dual-token system alongside the msUSD asset, designed to capture yield via delta-neutral options volatility arbitrage strategies. Holding SMSUSD represents a staked position in the underlying msUSD pool to accrue protocol yields.
The protocol's supply structure exhibits a fully diluted valuation matching its market capitalization of approximately $30.88 million, indicating no unvested token overhang. However, yields have remained low, averaging approximately 1.52% APY, with no centralized exchange trading volume or decentralized governance framework in place. Publicly verifiable data regarding active development repositories, team composition, and dedicated third-party smart contract audits for the Sonic deployment is limited.
SMSUSD and the underlying msUSD protocol have encountered significant financial distress and operational issues. The tokens have experienced substantial peg deviation from their $1.00 target, with msUSD trading down to $0.68 and SMSUSD falling 32.24% from its all-time high to an all-time low of $0.69. Additionally, the project has experienced an 85% depeg event with frozen withdrawal liquidity on Morpho, alongside an unresolved proof-of-reserves dispute and minimal organic liquidity.