Liquidity depth per major asset
Stake DAO's assessment for RD-F-065 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
sdCRV/CRV Curve pool (primary secondary-market exit for the largest liquid locker, pool 0xf7b55c3732ad8b2c2da7c24f30a69f55c54fb717) holds only $507.81 in TVL with approximately 2 transactions in 24 hours and ~$20-77K daily volume (variable). Exchange rate: approximately 1 sdCRV = 0.615 CRV (38.5% discount to 1:1 peg). sdCRV price ~$0.157 USD; CRV ~$0.255 USD. This pool is the sole exit mechanism for sdCRV holders — there is no protocol-operated redemption path. A $50K exit would exceed total pool TVL by 100x, resulting in near-total price impact. sdCRV circulating supply 119,049,300 tokens (~$18.7M), while pool depth is $508 — ratio of pool/supply = 0.003%. Structural depeg documented at 50-70% peg range for Curve-ecosystem liquid lockers (Curve Finance analysis, paragraph.com). This is yellow (not red) because (a) the protocol explicitly discloses exit-via-DEX-only architecture and (b) staking rewards (8% of LP strategy fees) and SDT emissions partially offset economic loss for holder
Sources #
- URLStake DAO CRV (SDCRV) — CoinGeckosdCRV price $0.1576 USD; 24h volume $77,959; total supply 22,975,526 reported (differs from Etherscan 119M — likely different aggregation methodology); all-time low $0.09382 (July 2023)retrieved 2026-05-16
- Liquid Lockers — Stake DAO DocssdToken/token exchange rate fluctuates based on market demand; exit exclusively via DEX liquidity pools (no redemption)retrieved 2026-05-16
- sdCRV Token Tracker — EtherscansdCRV total supply 119,049,300.21 tokens, 501 holders, price $0.16 USDretrieved 2026-05-16
- sdCRV/CRV Pool — GeckoTerminalsdCRV/CRV pool TVL $507.81, exchange rate 1 sdCRV = 0.6386 CRV, 24h volume $5.92–$77K (variable), pool address 0xf7b55c3732ad8b2c2da7c24f30a69f55c54fb717retrieved 2026-05-16
- Depegged Curve DAO CRV liquid lockers — Curve FinanceLiquid locker peg analysis: throughout 2024 maintained 80-100% peg value; recently declined to 50-70%; three root causes: CRV price appreciation, forced repayments from liquidations, delta-neutral farming unwindretrieved 2026-05-16
Methodology #
Measure on-chain liquidity depth for protocol-held assets at 2% and 5% price impact in USD.
See the full factor methodology and distribution across all protocols →