Defillama and Forgd Launch Universal Token Ratings Covering 128 Tokens

Defillama, a decentralized finance data platform, and Forgd, a Web3 investment bank, announced the launch of Universal Token Ratings (UTR) on August 26, 2026. The new framework assigns credit‑agency‑style grades to crypto assets and updates them in near real‑time based on market performance.

How Universal Token Ratings Work

UTR mirrors the evaluation models used by Moody’s, S&P and Fitch for bonds. Ratings range from AAA (highest) to CCC (lowest) and are recalculated regularly. The system is designed to reflect whether a token’s market behavior aligns with its public disclosures, allowing scores to rise or fall as conditions change.

Initial Ratings Snapshot

According to the UTR dashboard, the following tokens received the highlighted grades:

• AAA: Uniswap (UNI)
• AA: Meteora (MET), Curve DAO (CRV), Raydium (RAY), Olexchange (O), Jito (JTO), Ether.Fi (ETHFI), Dogecoin (DOGE), Zama (ZAMA), Pyth Network (PYTH)

In total, 128 unique assets have been assigned a rating as of the launch date.

Industry Context and Goals

Defillama’s Head of Research, Ryan Celaj, said the ratings extend the platform’s mission to provide unbiased, live market data. Forgd’s CEO, Shane Molidor, emphasized that the scores must be continuously earned, not merely awarded, to give investors a real‑time view of market health.

Potential Impact

The firms argue that a standardized, continuously updated rating system could increase institutional confidence in crypto projects, especially for newly issued tokens that receive a provisional rating at launch.