Figure Markets vs OnRe: Risk & Value Comparison
Figure Markets
OnRe
Sector
RWA
RWA
Risk Score
42/100
42/100
Risk Grade
C+
C+
Value Score
41/100
38/100
Value Grade
C-
C-
TVL
$1.4B
$185M
FDV
—
—
Mechanisms
5
5
Interactions
4
4
Quadrant
Neutral
Neutral
Risk Dimension Comparison
Mechanism Novelty/ 15
Figure Markets
6
OnRe
8
Interaction Severity/ 20
Figure Markets
6
OnRe
8
Oracle Surface/ 10
Figure Markets
2
OnRe
3
Documentation Quality/ 10
Figure Markets
4
OnRe
3
Track Record/ 15
Figure Markets
6
OnRe
4
Scale Exposure/ 10
Figure Markets
7
OnRe
5
Regulatory Risk/ 10
Figure Markets
8
OnRe
8
Protocol Vitality/ 10
Figure Markets
3
OnRe
3
Value Dimension Comparison
Fee Capture/ 25
Figure Markets
5
OnRe
8
Token Distribution/ 25
Figure Markets
10
OnRe
8
Emission Sustainability/ 25
Figure Markets
10
OnRe
10
Competitive Moat/ 25
Figure Markets
16
OnRe
12
Verdict
Both protocols have identical risk scores (42/100), making them equally risky.
Figure Markets has stronger value accrual (C-, 41/100) compared to C- (38/100).