DefiLlama and Forgd Launch Institutional-Grade Token Ratings

The dashboard, which currently awards Uniswap the only AAA grade with a composite score of 60.80, utilizes a multiplicative formula to prevent strength in one category from masking deficits in another. Unlike simple averages, this model requires projects to maintain high standards across both disclosure—covering tokenomics and insider wallets—and performance, which tracks liquidity, spreads, and market-maker behavior. Meteora and Curve DAO follow in the rankings, reflecting a shift toward verifiable data over project-provided claims.

Developed to mirror traditional finance scales, the system forces a correlation between stated policies and observable on-chain results. Forgd monitors over 500 market-maker engagements, comparing contract terms against real-time API data and exchange activity. If a project fails to substantiate its liquidity claims or leaves disclosures outdated for more than 60 days, the rating reflects those gaps through automatic penalties.

Despite the institutional framing, the developers emphasize that the ratings do not assess cybersecurity risks or predict price action. The methodology is intended as a screening tool for institutions managing exposure to tokenized assets, providing a standardized dataset for due diligence. As the market for real-world assets grows, both DefiLlama and Forgd intend to refine the model based on user feedback and emerging exploitation patterns.