Universal Token Ratings Bring Wall Street-Style Grades to Crypto

Defillama and Web3 investment bank Forgd have launched Universal Token Ratings (UTR), a rating system for digital assets inspired by credit rating agencies like Moody's and Fitch.

The UTR evaluates over 100 tokens, with ratings ranging from AAA to CCC. The top contender is Uniswap (UNI) with an AAA rating, while Meteora (MET), Curve DAO (CRV), Raydium (RAY), Olexchange (O), Jito (JTO), Ether.fi (ETHFI), Dogecoin (DOGE), Zama (ZAMA), and Pyth Network (PYTH) hold AA rankings.

Ratings are not static and can change in near real-time if a project's market structure falters, even with unchanged disclosures. The UTR aims to provide an industry-set standard similar to bond ratings, helping boost confidence and accountability among institutional investors.