Forged and DeFiLlama Introduce Universal Token Ratings for Web3 Assets

Forged, a Web3 investment bank, and DeFiLlama, the go-to DeFi analytics platform, have joined forces to launch Universal Token Ratings (UTR), a standardized scoring system that evaluates tokens on a scale of 0 to 100. The UTR uses a dual-axis methodology that multiplies two distinct scores together to produce a final rating.

The Disclosure Axis (D) assesses how complete and transparent a project's self-reported information is, while the Performance Axis (P) measures how well a token's actual market behavior matches those disclosures. If a project says one thing but the on-chain data shows another, the score reflects that gap.

At launch, Uniswap (UNI) tops the list with a score of 60.21 and the only AAA grade in the inaugural batch. Meteora (MET) came in second at 56.70 with an AA rating, followed by Curve DAO (CRV) at 52.94, also earning an AA.

Users can filter the full list of 128 rated tokens by fully diluted valuation, sector, or listing status. Projects that aren’t yet included can formally apply to disclose their information and get rated. The methodology behind the disclosure requirements is openly published on the platform.