Canopy

Canopy receives a C risk grade (49/100) from Hindenrank, where lower scores indicate lower risk. Elevated risk — a yield aggregator with innovative reward stacking, but the May 2026 acquisition by Move Industries (an entity still recovering from a co-founder market manipulation scandal) increases governance and counterparty risk meaningfully. Canopy is a yield aggregator on the Movement blockchain that automates liquidity deployment across Movement DeFi protocols and stacks rewards from multiple sources. Acquired by Movement Network in May 2026, it is now integrated directly into the Move Industries ecosystem. With $2.4M in TVL, it is an early-stage protocol on a relatively new chain. The main risks are the governance of its new parent entity Move Industries (whose co-founder was fired for market manipulation in 2025), and the immaturity of the Movement ecosystem it depends on.

The key risks identified for Canopy are: (1) Canopy was acquired by Move Industries (formerly Movement Labs) in May 2026 — a company that fired its co-founder for market manipulation and had its token delisted from Coinbase in May 2025. Your funds are now governed by this entity. (2) Canopy runs entirely on the Movement blockchain — a new chain that has not been tested through major market stress events or adversarial conditions (3) Your funds are deployed across multiple Movement DeFi protocols — if any of those are hacked, your deposits are at risk

Canopy scores 49/100 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: 7/10, Vitality Risk: 10/10. The highest risk area is Vitality Risk at 10/10.

Among 119 rated Yield protocols on Hindenrank, Canopy ranks #111 by safety (lowest risk score = safest). Its 49/100 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.