StakeWise osETH is an overcollateralized liquid staking token on Ethereum representing staked ETH across permissionless validator vaults. Yield is generated from Ethereum consensus and execution layer rewards, with a 10% overcollateralization buffer protecting against slashing losses.
AUM
$251m
Net APY
2.3%
Active Users
2k
Type
Liquid Staking
Network
Ethereum
BBB-
Elevated RiskCeiling AA
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CurrentPotential
This rating is based solely on publicly available information. DeFi protocol risk assessed across Security, Strategy and Operations on the AAA–D scale. The range from BBB- to AA reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.
SCSSmart Contract Security94
KMPKey Management Permissions91
MMarket73
LLiquidity93
CCollateral100
PMProtocol Mechanics100
ICEInfra Counterparty Exposures92
PCEProtocol Counterparty Exposures100
GGovernance78
FRFinancial Resilience69
TLCTeam Legal Compliance91
DTDocumentation Transparency100
Performance
Assets Under Management · 30D▼ 18.58%
$251m
Over the last 30 days, the total value of StakeWise osETH has dropped 18.58% with $57.30M in outflows.
Net APY · 30D▲ 5.99%
2.3%
Over the last 30 days, the APY has increased from 2.17% to 2.30%.
Active Users · 30D▲ 0.33%
2k
Over the last 30 days, active users have increased by 0.33%, reaching 1.8K wallets.
Market Details
ChainEthereum
Treasury$2.30M
Code AuditsHalborn (May 2023) ↗Halborn (Aug 2023) ↗Sigma Prime (Aug 2023) ↗ConsenSys Diligence (Mar 2024) ↗Sigma Prime (Jun 2024) ↗Sigma Prime (Sep 2024) ↗ABDK (Sep 2025) ↗
Oracles UsedStakeWise Oracle Network ↗RedStone ↗Chainlink ↗
Stated Withdrawal Time8 days
Component Ratings
Contract Addresses
Smart Contract0xf1C9...190E38
Keeper0x6B58...b487b5
PriceFeed0x8023...dFe471
GenesisVault0xAC0F...652885
OsTokenConfig0x287d...66eb59
VaultsRegistry0x3a00...4FC20E
SharedMevEscrow0x4831...20Ff86
GovernanceMultisig0x144a...D24934
Key Strengths
S1Extensive audit coverage from top firms including Sigma Prime, ConsenSys Diligence, Halborn, and ABDK, with all critical and high findings resolved
S2Core contracts are non-upgradeable, eliminating upgrade risk entirely; vault upgrades require dual approval from vault admin and DAO
S3100% organic yield from Ethereum staking rewards with no token emissions, leverage, or rehypothecation; overcollateralization buffer protects against slashing losses
S4Governance multisig with publicly identified signers and SafeSnap module providing governance delay with bond requirement
Key Risks
R1No formally documented incident playbook with tabletop exercises despite demonstrated ad-hoc signer rotation and crisis response capability
R2Balancer hack destroyed primary DEX liquidity pool, severely impairing DEX exit liquidity; in-protocol redemption remained functional
R3Historical peg deviation exceeded the low-risk threshold for peg stability, though it resolved within days
R4Monitoring exists but lacks automated protective actions beyond the KeeperRewards APY cap; no documented response SLAs under 15 minutes
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