Haedal ProtocolMicro-cap

Haedal Protocol receives a B- risk grade (28/100) from Hindenrank, where lower scores indicate lower risk. Lower risk — well-executed liquid staking but dependent on a young blockchain that has not faced a major stress event The dominant liquid staking protocol on Sui, holding over 60% of the chain's staked assets. You deposit SUI and receive haSUI, which earns staking rewards and can be used across Sui DeFi. It manages $200M in deposits. Its B grade reflects solid execution on a young, less-tested blockchain.

The key risks identified for Haedal Protocol are: (1) If the Sui network goes offline (which young blockchains have done), your haSUI is frozen and DeFi positions using it as collateral get mass-liquidated when the network restarts (2) Sui's native staking yield is only 2.5%, well below Solana (7-8%) or Ethereum (3-4%). Haedal subsidizes yields with protocol revenue, which is not sustainable long-term (3) Haedal controls over 60% of Sui's liquid staking market. A bug in Haedal's contracts would cripple the entire Sui DeFi ecosystem

Haedal Protocol scores 28/100 across eight risk dimensions: Mechanism Novelty: 2/15, Interaction Severity: 8/20, Oracle Surface: 2/10, Documentation Gaps: 3/10, Track Record: 1/15, Scale Exposure: 3/10, Regulatory Risk: 2/10, Vitality Risk: 7/10. The highest risk area is Vitality Risk at 7/10.

Among 83 rated Liquid Staking protocols on Hindenrank, Haedal Protocol ranks #26 by safety (lowest risk score = safest). Its 28/100 risk score and B- grade place it among the safer Liquid Staking protocols.

Haedal Protocol scores 1/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.