Detecting DeFi Risk, Before It Breaks
Coverage Universe · Methodology v1.1

All Protocol Ratings

Every protocol currently rated by DeFiScoreAudit, graded on three independent axes — Solvency, Legitimacy and Growth — using the same bands, weights and notching caps. The credit grade is Solvency: can the protocol survive stress and pay its users back. Legitimacy is published beside it, and Growth is shown as a separate outlook on adoption; neither is averaged into the credit grade. The last column flags each protocol's weakest axis, which is where to look first. Sorted by Solvency score, strongest first.

Protocols Rated 51 Data As Of November 12, 2026 (point-in-time re-screen) Investment Grade On Solvency 31 of 51 Scale AAA → D · BBB and above is investment grade
ProtocolCategoryTVL Credit Grade (Solvency)Legitimacy Growth OutlookWeakest Axis
Uniswap DEX $3.4B AA 82.3 AA BB Growth · BB
Lido Liquid Staking $19.9B A 79.3 AA BB Growth · BB
Sky (MakerDAO) CDP $4.1B A 79.3 A BB Growth · BB
Spark Lending $6.3B A 79 A BB Growth · BB
PancakeSwap DEX $2.2B A 79 BBB BB Growth · BB
AaveFULL Lending $15.6B A 78.5 AA BB Growth · BB
Hyperliquid Derivatives $7.7B A 78.3 A AAA Legitimacy · A
JustLend Lending $6.4B A 78.3 BB BBB Legitimacy · BB
Morpho Lending $11B A 73 AA A Solvency · A
Maple Credit $2.3B A 71 A BB Growth · BB
Jupiter DEX Aggregator $1.6B A 71 A BB Growth · BB
Venus Lending $1.1B A 71 BB CCC Growth · CCC
Ethena Yield / Synthetic Dollar $5.3B A 70.3 BBB BB Growth · BB
ether.fi LRT $4.3B A 70 A BB Growth · BB
StakeWise Liquid Staking $0.81B BBB 68 BBB CCC Growth · CCC
Marinade Liquid Staking $0.56B BBB 67.8 A B Growth · B
Rocket Pool Liquid Staking $0.99B BBB 67 AA CCC Growth · CCC
Liquity CDP $0.22B BBB 67 A CCC Growth · CCC
Compound Lending $1.3B BBB 67 A B Growth · B
Aerodrome DEX $0.33B BBB 64.8 BBB B Growth · B
Kamino Lending $1.2B BBB 64.8 BBB B Growth · B
GMX Derivatives $0.22B BBB 64.8 BBB B Growth · B
Raydium DEX $0.95B BBB 64.8 BBB B Growth · B
mETH Protocol Liquid Staking $0.49B BBB 64.8 BBB B Growth · B
Pendle Yield $1B BBB 64.5 A BB Growth · BB
Sanctum Liquid Staking $1.7B BBB 64.3 BBB BB Growth · BB
Convex Yield $0.48B BBB 64 BBB CCC Growth · CCC
Ondo RWA $4.1B BBB 62.5 A A Solvency · BBB
Curve DEX $1.2B BBB 61.8 A B Growth · B
Frax CDP / LSD $0.24B BBB 61.8 BBB CCC Growth · CCC
Jito Liquid Staking $0.85B BBB 61.5 A B Growth · B
Benqi Lending $0.22B BB 58.8 BBB CCC Growth · CCC
dYdX Derivatives $0.08B BB 58.5 A CCC Growth · CCC
Fluid Lending / DEX $0.81B BB 58.5 A B Growth · B
Drift Derivatives $0.23B BB 58.5 BBB B Growth · B
Yearn Yield $0.19B BB 57.8 BBB CCC Growth · CCC
Moonwell Lending $0.01B BB 52.5 BBB CCC Growth · CCC
SushiSwap DEX $0.09B BB 52.5 BB CCC Growth · CCC
Kelp DAO LRT $0.75B BB 52 BBB B Growth · B
Suilend Lending $0.13B BB 51.8 BB CCC Growth · CCC
Euler Lending $0.25B BB 49.5 A B Growth · B
BalancerCAP DEX $0.03B BB 48.8 A CCC Growth · CCC
Lombard BTC LST $0.72B BB 45.8 BBB BB Solvency · BB
Renzo LRT $0.09B BB 45 BBB CCC Growth · CCC
NAVI Lending $0.11B B 42.8 BB CCC Growth · CCC
Solv BTC Yield $0.53B B 42.8 BB B Growth · B
Bedrock LRT $0.3B B 41.5 BB CCC Growth · CCC
Babylon BTC Staking $3B B 40.8 BBB BB Solvency · B
Symbiotic Restaking $0.27B B 39.8 BBB CCC Growth · CCC
Puffer LRT $0.02B B 38.3 BB CCC Growth · CCC
EigenLayer Restaking $5.2B B 37.5 A BB Solvency · B

FULL marks a complete published rating — per-metric sourcing plus four stress scenarios. CAP marks a protocol carrying a notching cap: a fatal-flaw ceiling that can override the weighted score. Growth Outlook grades adoption, not ability to pay; a solvent protocol can carry a weak outlook. Weakest Axis names the lowest of the three grades; it is a flag, not the credit grade. Everything else is a screen grade — Methodology v1.1 applied in reduced form so the whole universe stays comparable — and is provisional pending verification of its inputs. Grades reflect data as of November 12, 2026 and do not update between published re-screens.

Re-screen of November 12, 2026. TVL, 12-month TVL change and worst 90-day drawdown were refreshed for every screen-grade protocol (source: DefiLlama, parent-level listing); the previous screen was dated July 27, 2026. The other inputs are still the July 27, 2026 analyst estimates, except where a protocol page lists them as sourced. Report. The findings across the whole table are written up in State of DeFi Risk 2026. Input sources (November 13, 2026). For 11 protocols, each scored input now carries its source or is marked as an estimate: Morpho, EigenLayer, ether.fi, Hyperliquid, JustLend, Symbiotic, Kelp DAO, Renzo, Puffer, Bedrock, Ondo. Where public data settled an input, the scored value was updated and the page says what it was before. Methodology change (v1.1). TVL stability now scores the worse of the 90-day drawdown and the 12-month TVL decline. Under v1.0 it looked only at the last 90 days, which let a protocol that had lost most of its deposits over a year score better after one calm quarter. Each protocol page shows its July 27, 2026 and November 12, 2026 figures side by side. Aave's full rating was refreshed on November 13, 2026 under v1.1 (Solvency AA → A); its page explains the change.