Algorithmic / under-collateralized stablecoin
StakeWise v3's assessment for RD-F-069 — scored green on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
osETH is not a stablecoin. It is an over-collateralised liquid staking token: users stake >1 ETH to mint 1 osETH (90% LTV = 111% collateralisation). Not algorithmic, not fiat-backed, not partially collateralised — fully backed by staked ETH with surplus buffer. LiqThresholdPercent=92% ensures osETH never exceeds the underlying ETH value before liquidation. LlamaRisk (2024): osETH volatility 3.42% vs ETH 3.37%.
Sources #
- URLStakeWise Deep Dive osETH Part 2StakeWise Medium — A Deep Dive Into osETH Part 2: liquidation threshold 92%, over-collateralised structureretrieved 2026-05-16
- LlamaRisk osETH Collateral Assessment 2024LlamaRisk osETH collateral assessment — classification as over-collateralised LSTretrieved 2026-05-16
Methodology #
Classify whether the protocol is an algorithmic or under-collateralized stablecoin design per curator classification.
See the full factor methodology and distribution across all protocols →