Stader ETHx

Stader ETHx receives a C risk grade (43/100) from Hindenrank, where lower scores indicate lower risk. Reasonable ETH LST for diversification away from Lido, but no structural advantage to offset smaller scale and thinner liquidity. Stader ETHx is a mid-tier Ethereum liquid staking token competing with Lido's stETH, Rocket Pool's rETH, and Coinbase's cbETH. At ~$130M TVL it is a small player — which means thinner liquidity, fewer DeFi integrations, and less operator diversity than the leaders. The 4 ETH operator bond is lower than Rocket Pool's 8 ETH, which is attractive for node operators but concentrates bond-level risk per unit of staked ETH. Stader's engineering attention is split across Polygon, BNB, Hedera and other chains, so ETHx is not the flagship product at the company.

The key risks identified for Stader ETHx are: (1) Small TVL and thin DEX liquidity mean ETHx can depeg more during stress than larger LSTs (2) Low operator bond (4 ETH) leaves less buffer for slashing events (3) Fewer DeFi integrations mean less optionality and more concentrated exit venues (4) Stader's multi-chain focus divides engineering attention across products

Stader ETHx scores 43/100 across eight risk dimensions: Mechanism Novelty: 6/15, Interaction Severity: 8/20, Oracle Surface: 5/10, Documentation Gaps: 4/10, Track Record: 6/15, Scale Exposure: 5/10, Regulatory Risk: 4/10, Vitality Risk: 5/10. The highest risk area is Oracle Surface at 5/10.

Among 83 rated Liquid Staking protocols on Hindenrank, Stader ETHx ranks #76 by safety (lowest risk score = safest). Its 43/100 risk score and C grade place it among the riskier Liquid Staking protocols.

Stader ETHx scores 6/15 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.