GETH
Rejected venues wait the longest for re-review; a rejection has to earn another look before the scheduled date.
GETH is a liquid staking token for ETH offered through Guarda’s staking service: holders can trade the token instead of waiting on staking withdrawals. Its single Ethereum pool held $14.4 million at the 2026-08-14 survey. The registry rejects it on size: one practice advising 100 households moves $1M to $8M into a venue on the same research, and below $100M TVL that book becomes the exit crush. Size alone decides it, whatever the protocol’s quality. At size it would be compared against the selected Ethereum staking provider on validator distribution and liquidity depth.
- TVL sustained above $100M for 30 days
The research file
Mechanism applicability
Guarda documents GETH as an ERC-20 token issued 1:1 when ETH enters Guarda’s validator pool; rewards are distributed in GETH and Guarda charges a share of on-chain rewards. The product is a tokenized claim on an operator-managed staking pool, not native solo staking.
Current observation and lifecycle
The DefiLlama API read on 2026-08-15 reported approximately $14.4M of GETH TVL on Ethereum, still far below the shared v1 $100M line. Guarda publishes a wallet-based 1:1 GETH-to-ETH swap path, while its support materials retain the history of a replaced token contract.
Control, incident and exit applicability
Guarda controls validator operations, reward calculation and the supported conversion workflow. In 2021 a compromised minter key created one million GETH and drained exchange liquidity; Guarda deactivated and replaced the contract while stating validator stake remained intact. Exit relies on the supported swap or secondary liquidity, so service availability, contract identity, backing and depth matter.
Why the class rule decides
The shared v1 below-materiality dossier controls. Reopen after reproducible backing and TVL sustain at least $100M for 30 days. Then compare the selected Ethereum staking provider and verify validator and slashing distribution, mint authority, current contract, backing reconciliation, rewards, audits and remediation, fees, issuer conversion, and stressed liquidity.
Sources
The claims above trace to these. Where a number could not be independently verified, the thesis says so.
- Guarda Support — Ethereum staking pool FAQ · primary · accessed 2026-08-15
Supports: GETH issuance, 1:1 backing claim, validator pool, reward fee, secondary liquidity - Guarda — GETH contract breach and response · primary · accessed 2026-08-15
Supports: minter-key compromise, one million GETH, liquidity loss, contract deactivation, remediation - DefiLlama — GETH survey record · secondary · accessed 2026-08-15
Supports: current TVL, Ethereum, liquid-staking category, survey perimeter
Inherited controls
The verdict above grades the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The least safe layer sets the position’s grade, and the position table names which one that is.
| Chain | Verdict | Grade | Control constraint |
|---|---|---|---|
| Ethereum | Approved | sovereign | No sequencer, no upgrade key, no operator who can be compelled — rule changes require social consensus. |