Independent DeFi risk ratings. APY tells you what you earn. PSL tells you what you might lose. Know your risk.
DeFi
Joined August 2019
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Morpho's design for receivables on Midnight handles what lives onchain: the record of the claim, no double financing inside the registry, lenders repaid first, fixed-rate pricing.
What the chain can't see is whether the book behind the market is the book that was underwritten 🧵
ALT Who checks the book? A Morpho Midnight market sits onchain; the book of receivables behind it sits off-chain, with a question mark between them.
9/ Each reporting period brings a new tape, tested against the covenants, the eligibility criteria and the book at launch. When the inputs move, the rating moves.
Full analysis: credora.network/blog/posts/r…
10/ Ratings and data provided are for informational purposes only. Not investment advice or a solicitation to buy or sell assets. Always conduct your own due diligence. Credora does not guarantee the completeness or real-time accuracy of any information provided. A full disclaimer is included in each risk assessment report published at credora.network/reports/.
J.P. Morgan's deposit token launched on Ethereum on 19 Oct. We rated it.
JPMD: A+ (indicative), Probability of Default (PD) 0.088%.
It positions as 7th of 9 rated tokenized dollars and Treasury funds, behind BUIDL and USDC. Everything that pulls it down sits in the token layer.
ALT Credora rating card for JPMD, J.P. Morgan's tokenized deposit on Ethereum and Base. Indicative rating A+, Probability of Default 0.088%, scored 19 Oct 2026. Anchor PD (bank) 0.023%, token-layer charge x3.89, largest charge -0.70 for smart contract.
6/ Indicative rating, scored 19 Oct 2026 from public sources, without the issuer's participation.
Full breakdown on our blog: credora.network/blog/posts/w…
Scale and peers on the app: app.credora.network
7/ Ratings and data provided are for informational purposes only. Not investment advice or a solicitation to buy or sell assets. Always conduct your own due diligence. Credora does not guarantee the completeness or real-time accuracy of any information provided. A full disclaimer is included in each risk assessment report published at credora.network/reports/.
Tokenized stocks hit a record of about $3.3B (@RWA_xyz, 12 Oct).
But a “tokenized stock” can mean very different things. For @redstone_defi’s new tokenized stocks report, we mapped the issuers behind the market.
Same stock exposure, six legal instruments, six risk profiles.
ALT A single $AAPL ticker branching into six instrument types: tracker certificate, structured note, certificate, 1:1 dShare, debt security and registered share. Only the registered share is highlighted.
7/ Full breakdown: credora.network/blog/posts/t…
Report: redstone.finance/research/to…
8/ Ratings and data provided are for informational purposes only. Not investment advice or a solicitation to buy or sell assets. Always conduct your own due diligence. Credora does not guarantee the completeness or real-time accuracy of any information provided. A full disclaimer is included in each risk assessment report published at credora.network/reports/.