Canopy

Canopy receives a C- risk grade (51/100) from Hindenrank, where lower scores indicate lower risk. High risk — a pre-token yield aggregator whose parent entity (Move Industries) has abandoned DeFi, whose ecosystem founding company (MVMT Labs) has filed for bankruptcy, and which operates on a chain with near-zero application revenue. The governance and continuity risk is now the dominant concern. Canopy is a yield aggregator on the Movement blockchain that automates liquidity deployment across Movement DeFi protocols. The protocol is owned by Move Industries following a May 2026 acquisition. As of July 2026, MVMT Labs — the founding legal entity behind Movement — has filed for Chapter 11 bankruptcy, and Move Industries has publicly pivoted away from DeFi toward cross-border payments. The Movement ecosystem has near-zero daily application revenue and the MOVE token is down ~99% from its peak. Canopy's TVL sits at ~$924K with no significant exit by depositors following the bankruptcy news, but the long-term viability of the protocol is now dependent on Move Industries remaining committed to DeFi infrastructure.

The key risks identified for Canopy are: (1) MVMT Labs, the original legal entity behind the Movement blockchain, filed for Chapter 11 bankruptcy in July 2026 — the same family of entities that owns Canopy through Move Industries (2) Move Industries (Canopy's direct owner) pivoted away from DeFi in June 2026 to focus on cross-border payments — your funds are managed by an entity that has deprioritized the DeFi product line (3) Your funds are deployed across multiple Movement DeFi protocols on a chain with near-zero user activity — if any underlying protocol is abandoned or exploited, your deposits are at direct risk

Canopy scores 51/100 across eight risk dimensions: Mechanism Novelty: 3/15, Interaction Severity: 6/20, Oracle Surface: 5/10, Documentation Gaps: 7/10, Track Record: 11/15, Scale Exposure: 0/10, Regulatory Risk: 9/10, Vitality Risk: 10/10. The highest risk area is Vitality Risk at 10/10.

Among 121 rated Yield protocols on Hindenrank, Canopy ranks #112 by safety (lowest risk score = safest). Its 51/100 risk score and C- grade place it among the riskier Yield protocols.

Canopy scores 11/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.