Canopy

Canopy receives a C+ risk grade (41/100) from Hindenrank, where lower scores indicate lower risk. Elevated risk — a promising yield aggregator on Movement with innovative reward stacking, but the combination of early-stage protocol and new-chain dependency creates meaningful uncertainty. Canopy is a yield aggregator on the Movement blockchain that automates liquidity deployment across Movement DeFi protocols and stacks rewards from multiple sources. Backed by $1.2M from Mechanism Capital and others, it aims to be the gateway to Movement DeFi. With $31M in TVL, it is an early-stage protocol on a new chain. The main risks are the immaturity of both Canopy itself and the Movement ecosystem it depends on.

The key risks identified for Canopy are: (1) Canopy runs entirely on Movement — a new blockchain that has not been tested through major market stress events or adversarial conditions (2) The protocol is very early-stage with only $1.2M in funding and limited operational history, meaning smart contracts may not have been thoroughly audited (3) Your funds are deployed across multiple Movement DeFi protocols — if any of those are hacked, your deposits are at risk

Canopy scores 41/100 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: 4/10, Vitality Risk: 5/10. The highest risk area is Track Record at 11/15.

Among 112 rated Yield protocols on Hindenrank, Canopy ranks #75 by safety (lowest risk score = safest). Its 41/100 risk score and C+ grade place it in the middle tier of 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.