Forgd and DefiLlama launch Universal Token Ratings, scoring 128 tokens on a 0-to-100 scale

Crypto finally has something resembling a credit rating agency. Forgd, a Web3 investment bank, and DefiLlama, the go-to DeFi analytics platform, have rolled out Universal Token Ratings (UTR), a standardized scoring system that evaluates 128 tokens on a scale of 0 to 100 and assigns letter grades from AAA down to CCC. Think of it like Moody’s for tokens, except the grades update in real time based on liquidity trends, trading volumes, and on-chain unlock events. The dashboard is live at defillama.com/universal-token-rating. How the scoring actually works The UTR uses a dual-axis methodology that multiplies two distinct scores together to produce a final rating. The first component is the Disclosure Axis (D), which evaluates how complete and transparent a project’s self-reported information is. Think tokenomics breakdowns, vesting schedules, team allocations. The second is the Performance Axis (P), which measures how well a token’s actual market behavior matches those disclosures. If a project says one thing and the on-chain data shows another, the score reflects that gap. The final rating comes from multiplying D by P. A project can’t score well by just filing pretty reports. The ma...