Lido Staked Ether
STETH
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
Whale Pulse
Large transaction flow (>$10k)
24h Whale Volume
$0.0k
Sentiment
Accumulation
Recent DEX Trades
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Comprehensive evaluation of the token
STETH (Lido Staked Ether) demonstrates industry-leading fundamentals as the dominant liquid staking derivative on Ethereum. Active development is robust (Score: 9/10), evidenced by the deployment of Lido's Core Upgrade bundling Community Staking Module v3 and Curated Module v2 to mainnet in July 2026. Community support (Score: 8/10) is anchored by over 623,000 holders and active Lido DAO governance, including Dual Governance mechanisms. Tokenomics (Score: 8/10) and Market Use Case (Score: 9/10) reflect massive liquidity, deep DeFi integration, and 1:1 ETH backing via daily rebasing rewards, positioning it as a foundational collateral asset across DeFi. Team and Governance (Score: 7.5/10) and Security and Audit History (Score: 7.5/10) are supported by extensive public audits and an unexploited core contract. Minor deductions reflect systemic Ethereum market-share concentration (>25% of staked ETH), historical temporary depeg volatility (2022, fully recovered), minor peripheral third-party/oracle incidents, and ongoing sector-wide regulatory evolution. No qualifying red-flag events or data gaps were identified.
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 Lido Staked Ether (STETH)
Lido Staked Ether (stETH) is an ERC-20 liquid staking receipt token issued by Lido DAO on the Ethereum blockchain. It represents staked Ether (ETH) backed 1:1 by deposits staked across Lido's validator network. Staking rewards accrue directly to token holders via daily balance rebases scheduled at 12:00 PM UTC, net of a 10% protocol fee. stETH allows participants to maintain liquidity on their staked capital, facilitating its integration as collateral and liquidity across decentralized finance protocols without requiring users to run individual validator nodes.
The protocol is governed by Lido DAO through LDO token voting, which manages protocol parameters and node operator allocations. To balance governance influence between LDO and stETH holders, Dual Governance mechanics such as veto signaling and rage quit were introduced. In July 2026, Lido deployed its Core Upgrade on mainnet, integrating Community Staking Module v3 and Curated Module v2 to consolidate over 8 million stETH onto Ethereum's post-Pectra validator withdrawal-credential architecture.
STETH has experienced several operational and market-related events. During the June 2022 market downturn, stETH traded at a temporary discount to ETH before recovering following the implementation of validator withdrawals. The core stETH contract has not suffered a direct exploit, but adjacent incidents have occurred: in May 2025, one of Lido's nine oracle signing keys tied to a Chorus One hot wallet was compromised, resulting in a loss of 1.46 ETH (approximately $4,200) in gas fees with no loss of user funds. Peripheral exposures include an early November 2024 bridge exploit on KelpDAO that created a $21.6 million exposure for Lido's EarnETH vault—prompting paused redemptions and the activation of a $3 million first-loss fund—and a 2025 governance exploit on Term Labs vaults involving 1,110 borrowed stETH. In September 2023, an ERC-20 standard deviation in the LDO contract was disclosed regarding potential exchange deposit risks, though no fund losses materialized. Structural risks include concentration risk stemming from Lido securing over 25% of all staked ETH, alongside broader regulatory discussions regarding the legal classification of liquid staking receipts.