Skip to content

SDT Token

What is SDT?

SDT (Stake DAO Token) is Stake DAO's governance token. It was introduced alongside the launch of the protocol in 2021.

SDT emissions are controlled by the DAO and reward users of the different Stake DAO products.

In early 2022, SDT adopted the veTokenomic model introduced by Curve Finance with its veCRV link to the announcement.

SDT Staking Models

Stake DAO offers two staking models for SDT:

vlSDT (Current)

vlSDT is the new staking system with flat voting power:

  • 1:1 voting power: 1 staked SDT = 1 vlSDT voting power (no decay)
  • Flexible exit: Request unstake anytime, receive SDT after 8-week queue
  • Epoch-based rewards: Earn protocol fees based on your share at epoch start

New users should stake SDT via vlSDT. See the Stake vlSDT Guide.

veSDT (Sunset)

veSDT is the legacy vote-escrow model:

  • Decaying voting power: Lock SDT for up to 4 years, voting power decays over time
  • Fixed exit: Wait for lock expiry to withdraw
  • New locks disabled: No new veSDT positions can be created

Existing veSDT holders can continue using their locks or migrate to vlSDT at any time.

Governance

The DAO is governed by veSDT and vlSDT holders. Both token types provide voting rights on protocol proposals and gauge weight allocation. See the Governance page for details.

Tokenomics & Distribution

There SDT has a total fully diluted supply of 100,000,000 SDT. It's was distributed as follows:

  • Initial airdrop: 1.5% (1,500,000 SDT), distributed on January 20, 2021
  • Initial contributors, angel investors, and Foundation: 36% (36,000,000 SDT), linearly vested over 2 years from January 2021
  • Stake DAO Foundation (pocket of token kept for future use): 4% (4,000,000 SDT)
  • Protocol users: 57.35% (57,352,941 SDT) distributed at a rate set by governance
  • Treasury: 1.15% (1,147,059 SDT) distributed at the same rate than for protocol users (every time an SDT is minted from the MasterChef contract, 0.02 SDT are minted and sent to the treasury)


Inital SDT supply

More information on SDT launch and airdrop can be found in this medium post.

More information on the foundation can be found here

The list of addresses eligible to the airdrop can be found here.

Vesting contract: 0xc78fa2af0ca7990bb5ff32c9a728125be58cf247


SDT Contributors and investors

SDT inflation

SDT are minted from a Masterchef contract at a fixed rate per Ethereum block, determined by governance.

  • You can also check the inflation recipient addresses here under poolInfo. (the number of pools is checkable via poolLength). Some pools are not active (i.e. not receiving inflation)
  • Pool numbers 16 and 17 respectively represent the allocation of SDT for the Strategies and Liquid Lockers Gauge Controllers. These are the contracts responsible for allocating SDT to strategies and lockers based on veSDT gauge votes.
Legacy inflation
  • Pool number 8 represents the allocation of SDT for a legacy contract called the Dummy Master Token contract, which was used for flexible weekly adjustment of the inflation towards several avenues, including notably NFT staking, Frax gauges, Partnerships, etc.

This adjustment were disclosed in weekly forum posts such as this one, until veSDT was launched and SDT inflation allocation became fully governed by veSDT on-chain voting.

How to Acquire SDT?

SDT can be received as a reward for using Stake DAO products, or acquired via DEX aggregators and liquidity pools. Always verify you are acquiring the correct token by checking the contract address.

SDT contract addresses: