Scoring Model

Question-Level Scoring

The framework currently consists of 84 questions distributed across:

• 2 Security sub-categories

• 6 Strategy sub-categories

• 4 Operations sub-categories

Each question is scored into one of three risk groups:

• Lowest risk → high score (e.g., 9 points)

• Mid risk → medium score (e.g,. 3 points)

• Highest risk → low score (e.g,. 1 point)

Missing data is treated as the worst case and counted with 0 points. In DeFi, transparency is a core part of risk: if you do not know, we assume that anything can happen.

Aggregation

• Within each sub-category, question scores are aggregated into a sub-category score.

• Sub-categories are equally weighted within their pillar.

• Each pillar (Security, Strategy, Operations) contributes its fixed weight (40 / 30 / 30) to the total score.

Notation

• Pillars $(p \in {\text{Sec}, \text{Strat}, \text{Ops}})$

• Pillar weights: $(w_{\text{Sec}} = 0.40), (w_{\text{Strat}} = 0.30), (w_{\text{Ops}} = 0.30), with (\sum_{p} w_p = 1)$

• For each pillar $(p)$:

  • $(N_p)$: number of sub-categories in pillar $(p)$

  • Sub-categories indexed by $(i = 1, \dots, N_p)$

  • $(n_{p,i})$: number of questions in sub-category $(i)$ of pillar $(p)$

  • Question scores $(q_{p,i,j} \in {1, 3, 9}) for (j = 1, \dots, n_{p,i})$

Total Points

$$\text{Points} = \sum_{p} w_p \cdot \left( \frac{1}{N_p} \sum_{i=1}^{N_p} \frac{1}{n_{p,i}} \sum_{j=1}^{n_{p,i}} q_{p,i,j} \right)$$

Given the current structure, the maximum total score is 900 points, corresponding to the lowest observable risk and thus an AAA-level profile under our scale. Lower scores map into lower rating bands (AA through D).

The exact mapping between numeric score ranges and rating bands is documented and versioned within the methodology and applied consistently across all protocols.

Score	Higher Bound
AAA	900
AA+	894
AA	888
AA-	882
A+	876
A	870
A-	858
BBB+	846
BBB	834
BBB-	822
BB+	810
BB	785
BB-	760
B+	735
B	710
B-	685
CCC+	660
CCC	580
CCC-	500
CC	420
C	340
D	100