StakeWise

StakeWise osETH

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 staking rewards distributed across a diverse set of node operators.

AUM

$434.15m+14.46%

APY

2.31%-5.71%

BRated Protocol

Updated Mar 20, 2026

Risk Rating

AAAAAABBBBBBCCCCCCD

This rating is based solely on publicly available information. The range from B to A- reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.

SCS: Smart Contract Security

KMP: Key Management Permissions

M: Market

L: Liquidity

C: Collateral

PM: Protocol Mechanics

ICE: Infra Counterparty Exposures

PCE: Protocol Counterparty Exposures

G: Governance

FR: Financial Resilience

TLC: Team Legal Compliance

DT: Documentation Transparency

Potential Score

Provider risk assessed across Business, Operations, Reliability, and Security.

View the detailed scoring breakdown

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Contract Addresses

TokenContract

0xf1C9...0E38

Keeper

0x6B58...87b5

PriceFeed

0x8023...e471

GenesisVault

0xAC0F...2885

OsTokenConfig

0x287d...eb59

VaultsRegistry

0x3a00...C20E

SharedMevEscrow

0x4831...Ff86

GovernanceMultisig

0x144a...4934

OsTokenVaultController

0x2A26...0306

Key Strengths

Extensive audit coverage from top-tier firms including Sigma Prime, ConsenSys Diligence, and ABDK, with all critical and high findings resolved
Core contracts (OsToken, Keeper, VaultController, PriceFeed) are non-upgradeable, eliminating upgrade risk; vault upgrades require dual approval from vault admin and DAO
Fully organic yield from Ethereum staking rewards with no token emissions, leverage, or rehypothecation; 10% overcollateralization buffer protects against slashing losses
Governance secured by a 4-of-7 Gnosis Safe multisig with SafeSnap module providing 48-hour delay and bond requirement
Comprehensive documentation including canonical contract registry and detailed osToken mechanics, with all contracts verified on Etherscan
Proven crisis response capability demonstrated during the Balancer hack recovery, where the DAO multisig recovered the majority of affected osETH within 90 minutes

Key Risks

No real-time security monitoring system or automatic pause mechanism in core contracts; only indirect manual controls exist
DAO treasury is minimal relative to TVL with no dedicated safety module or binding loss-coverage rules, leaving users exposed to loss events
Near-zero DEX liquidity following the Balancer exploit that destroyed the primary liquidity pool; users depend entirely on in-protocol redemption
Significant osETH concentration in EigenLayer restaking, creating systemic risk if that protocol experiences issues
Custom permissioned oracle network with 11 operators under 7-of-11 consensus is not a standard oracle and lacks redundant fallback for reward updates
Primary Genesis Vault operator concentration with StakeWise Labs historically operating a large share of validators; Obol DVT migration underway
No documented incident response playbook or on-call process; prior crisis response was effective but ad-hoc