# Ketju research: StackingDAO

- URL: https://riadefi.com/rejections/stackingdao/
- Research assessment: adverse
- Client selection: not considered
- Exposure: staking
- Reviewed: 2026-09-25
- Last confirmed: 2026-09-25

## Research summary

StackingDAO issues liquid staking tokens on Stacks: stSTX (STX rewards compound into the token’s rate), stSTXbtc (BTC rewards paid out), and stBTC (sBTC placed in reserves and PoX-5 bond positions). It held about $38M across the three tokens at the 2026-09-25 survey, below the size floor set by the below-materiality dossier, so we do not open an individual review of its contracts, keys, and exits. Two standing facts would stop the file even above the floor: Stacks has no chain review in this registry, and StackingDAO’s own restricted-countries page bars United States residents from the app. This is a class judgment with a recorded condition for reopening, not a researched rejection.

## Observable review triggers

- TVL sustained above the size floor for 30 days
- The Stacks chain review resolves to approved
- StackingDAO removes the United States from its restricted countries

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Published by Ketju Research (https://ketjuresearch.com). Educational analysis only; not legal, tax, compliance, or investment advice.
Machine-readable index: https://riadefi.com/llms.txt · Content API: https://riadefi.com/content.json