#DeFiGetsGraded | First Credit Rating for Decentralized Protocols
In a historic step, S&P Global issued the first credit rating for a DeFi protocol — Sky Protocol (formerly MakerDAO) — which received a rating of B- (Outlook: Stable).
This rating indicates that Sky is capable of meeting its financial obligations, but it remains exposed to risks such as weak financial standing, centralization, and unstable regulatory conditions.
Including the rating within the DeFi category reflects a growing desire to integrate traditional financial frameworks with decentralized finance protocols. It paves the way for institutions to adopt DeFi as a credit-evaluable asset, which enhances the legitimacy of this sector in the eyes of traditional investors.
Will this open the door for similar ratings for other projects and tokens like $DAI or
$USDC #DeFi #SkyProtocol