DeFillama and Forgd launched Universal Token Ratings with 128 assets graded AAA to CCC. Uniswap's UNI holds the sole AAA. Ratings update in real time as market structure shifts.
DeFillama and Forgd on Wednesday launched Universal Token Ratings, a letter-grade system for digital assets that grades more than 100 tokens from AAA down to CCC. The ratings update in near real time based on live market data, the companies said in an announcement shared with Bitcoin.com News.
The dashboard puts Uniswap's UNI token as the sole AAA-rated asset. Meteora, Curve DAO, Raydium, Jito, Ether.fi, Dogecoin and Pyth Network hold AA grades. As of Aug. 26, the system covered 128 tokens.
"Ratings that are calculated from live market data are a natural extension of that mission, and give our users a fast, standardized way to identify projects that deliver," Ryan Celaj, head of research at DeFillama, said.
The framework mirrors the letter-grade systems Moody's Ratings, S&P Global Ratings and Fitch Ratings have used for bonds since the early 1900s. AAA denotes the highest quality; CCC and below signal higher risk. Moody's and S&P already operate in crypto. Moody's has a stablecoin rating methodology, and S&P runs a 1-to-5 Stablecoin Stability Assessment.
Forgd founder and CEO Shane Molidor said the system is designed so that "a score is something you have to keep earning." Newly launched tokens from token generation events carry provisional ratings at first, then move to full grades as market data accumulates.
DeFillama and Forgd aim the ratings at institutional investors who need a standardized benchmark for token quality, the companies said. The ratings shift when market structure changes, even if a project's disclosures stay the same. MCO, Moody's parent company, carries an Alpha Score of 67 on AlphaScala's proprietary framework, with a Moderate label in the Financials sector.
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