Angle ProtocolMicro-cap

Angle Protocol receives a B risk grade (27/100) from Hindenrank, where lower scores indicate lower risk. Lower risk — 4+ years of clean operation with standard mechanisms, but stablecoin product is in managed wind-down through March 2027 with the team pivoting to Merkl A Euro-denominated stablecoin protocol backed by diversified collateral including crypto assets and real-world assets. It holds ~$2M in deposits with 4+ years of clean operation. Its B- grade reflects standard, well-tested mechanisms and a long track record, offset by thin EUR liquidity, MiCA regulatory challenges, and an active wind-down of the stablecoin product (redemption window open until March 2027).

The key risks identified for Angle Protocol are: (1) Euro stablecoins have much less trading liquidity than dollar stablecoins. During market crashes, there may not be enough buyers to maintain the peg. (2) The protocol has faced regulatory issues with EU's MiCA framework, causing some exchanges to delist or restrict the token. (3) Part of the collateral backing is in real-world assets, which introduces traditional finance risks like custodian failure and regulatory seizure.

Angle Protocol scores 27/100 across eight risk dimensions: Mechanism Novelty: 0/15, Interaction Severity: 8/20, Oracle Surface: 2/10, Documentation Gaps: 3/10, Track Record: 0/15, Scale Exposure: 0/10, Regulatory Risk: 6/10, Vitality Risk: 8/10. The highest risk area is Vitality Risk at 8/10.

Among 30 rated Stablecoin protocols on Hindenrank, Angle Protocol ranks #1 by safety (lowest risk score = safest). Its 27/100 risk score and B grade place it among the safer Stablecoin protocols.

Angle Protocol scores 0/15 on the Track Record risk dimension, indicating no significant exploits or security incidents in its history. However, past performance does not guarantee future security.