D

D-Rated Protocols

21 protocols · Elevated risk — significant concerns in mechanism complexity, track record, or scale

Protocols

21

Avg Risk Score

63/100

Total TVL

$4.0B

Grade Distribution

ProtocolSectorRiskValueTVL
Restaking
D+
D+
$1.5B
Restaking
D
D+
$905M
L1
D+
D+
$557M
Restaking
D+
D+
$412M
Stablecoin
D+
C
$186M
RWA
D
C
$157M
Bridge
D+
D
$129M
DEX
D
B
$55M
Yield
D+
C-
$25M
Lending
D+
D-
$10M
Stablecoin
D+
D-
$6M
Lending
D+
C
$4M
Derivatives
D+
D-
$2M
Yield
D
D-
$1M
Restaking
D+
C-
$1M
Derivatives
D+
D
$656,000
Lending
D+
F
$611,000
Stablecoin
D
C
$13
DeFi
D-
F
—
Bridge
D+
D-
—

What does grade D mean?

Elevated risk — significant concerns in mechanism complexity, track record, or scale. Protocols rated D include sub-grades D+, D, D-. Here are the average dimension scores for the 21 protocols in this cohort:

Mechanism Novelty7.5/15
Interaction Severity16/20
Oracle Surface5.9/10
Documentation Quality5.7/10
Track Record12.6/15
Scale Exposure3.5/10
Regulatory Risk5.3/10
Protocol Vitality6.5/10