#DeFiGetsGraded
DeFiGetsGraded refers to frameworks and assessments that grade DeFi protocols based on risk, performance, and institutional readiness.
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Recent Notable DeFi Grading & Research
1. Galaxy Digital’s “SeC FiT PrO” Risk Framework
Galaxy recently introduced an institutional-grade evaluation framework called SeC FiT PrO, which assesses DeFi protocols across six weighted domains:
Security (e.g. audits, penetration testing)
Compliance
Finance
Technology
Protocol
Operations
The methodology culminates in a composite risk score, offering a structured, transparent way to compare DeFi protocol risks. Galaxy notes that most protocols score below 50%, while a few surpass 85%, and they’re encouraging broader adoption of this approach.
2. S&P Global’s Credit Rating of Sky (MakerDAO)
In a historic move, S&P Global assigned a B- credit rating (speculative grade, akin to junk bonds trading) to Sky, previously known as MakerDAO.
The rating reflects risks including depositor concentration, governance centralization, and unclear regulation—though it's also acknowledging the protocol's stability and audit history.
This marks the first time S&P has rated a DeFi protocol, paving the way for traditional finance engagement.
Summary Table
Source Type of Grading / Insight
Galaxy Digital (SeC FiT PrO) Structured risk-rating across security, compliance, ops, etc.
S&P Global Traditional credit rating of a DeFi protocol (Sky), B- grade
Messari & Analysts Research, dashboards, metrics for trend and protocol analysis
Institutional Perspective Macro view on DeFi’s appeal to traditional investors