Thala LSDMicro-cap
Moderate risk — leading Aptos liquid staking with innovative two-token model, but past security incident and young ecosystem raise concerns.
Top Risks
1
Thala V1 farming contract vulnerability in Nov 2024 resulted in $25.5M incident — past security failure
2
Two-token model (thAPT/sthAPT) introduces complexity in reward distribution and DeFi composability
3
sthAPT holders receive disproportionate rewards (including 80% of thAPT rewards), creating imbalanced incentives
4
Aptos ecosystem has limited DeFi depth compared to Ethereum, reducing composability options
Risk Breakdown
Frequently Asked Questions
Is Thala LSD safe to use?
Thala LSD receives a B- risk grade (29/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — leading Aptos liquid staking with innovative two-token model, but past security incident and young ecosystem raise concerns. Thala LSD is the leading liquid staking protocol on Aptos, offering two LST tokens: thAPT (1:1 pegged) and sthAPT (yield-bearing). With $11M TVL, sthAPT holders earn boosted yields including 80% of thAPT's staking rewards. Part of the broader Thala DeFi suite including a CDP stablecoin and AMM. Suffered a $25.5M farming contract incident in November 2024.
What are the main risks of using Thala LSD?
The key risks identified for Thala LSD are: (1) The protocol had a $25.5M security incident in November 2024 — while remediated, this indicates elevated smart contract risk (2) Your sthAPT may temporarily trade below APT during market downturns if unstaking queues build up (3) The Aptos ecosystem has limited DeFi options compared to Ethereum, reducing where you can use your liquid staking tokens
What is Thala LSD's risk score breakdown?
Thala LSD scores 29/100 across eight risk dimensions: Mechanism Novelty: 3/15, Interaction Severity: 4/20, Oracle Surface: 2/10, Documentation Gaps: 2/10, Track Record: 6/15, Scale Exposure: 3/10, Regulatory Risk: 2/10, Vitality Risk: 7/10. The highest risk area is Vitality Risk at 7/10.
How does Thala LSD compare to other Liquid Staking protocols?
Among 81 rated Liquid Staking protocols on Hindenrank, Thala LSD ranks #35 by safety (lowest risk score = safest). Its 29/100 risk score and B- grade place it in the middle tier of Liquid Staking protocols.
Has Thala LSD ever been hacked or exploited?
Thala LSD 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.
Last scanned 2026-02-26