Stables Labs Staked USDX
SUSDX
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SUSDX (Stables Labs Staked USDX) has experienced a catastrophic protocol failure following an exploit and severe depeg in November 2025. Specifically, the Security and Audit History section establishes a qualifying red-flag event: 'Nov 7, 2025 — USDX depegged to $0.30 and "basically became worthless" (Beosin); sUSDX, whose value derives from USDX, collapsed with it', preceded by a ~$1M Balancer V2 exploit on November 3, 2025. Development is effectively stalled in crisis-mode without clear repayment or reserve transparency, organic community governance is non-existent, and the underlying stablecoin's depeg renders sUSDX's core yield-bearing utility void. The overall score of 2.9 mathematically reflects the weighted average across all evaluated sections (Active Development: 1.5, Community Support: 2.0, Tokenomics: 6.5, Market & Use Case: 1.5, Team & Governance: 3.5, Security & Audit History: 1.5).
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 Stables Labs Staked USDX (SUSDX)
Stables Labs Staked USDX (SUSDX) is a yield-bearing ERC-4626 receipt token representing staked USDX, a synthetic stablecoin issued by the usdx.money protocol. Operating on networks including Arbitrum, the token was designed to accrue yield via an appreciating exchange rate backed by a delta-neutral strategy, utilizing an 8-hour linear vesting mechanism to mitigate sandwich attacks. SUSDX previously integrated with decentralized finance platforms such as Compound. The project was launched by an anonymous team with centralized protocol management and lacks a decentralized autonomous organization (DAO) or public governance forum.
In November 2025, the protocol experienced a catastrophic failure following security incidents and market collapse. On November 3, 2025, an exploit on a Balancer V2 liquidity pool drained approximately $1 million in USDX and sUSDX. Several days later, on November 7, 2025, USDX suffered a severe depeg, falling to $0.30 and trading more than 98% below its all-time high, which rendered the yield-bearing utility of sUSDX void. Forensic analysis by Beosin alleged a team-linked unauthorized mint-and-dump scheme that resulted in bad debt across multiple lending protocols, including Silo Finance, Euler Finance, and Lista DAO.
Following the collapse, active development stalled. While Stables Labs proposed a phased recovery plan, it included no firm repayment commitments or transparent reserve reporting, and users reported the closure of the project's official Discord community. SUSDX exhibits near-zero trading volume, minimal on-chain activity, and a severely degraded market presence.