Risk Indicators8 min read

DeFi Stablecoins — Protocol Risk and TVL Quality

ACI scores DeFi stablecoin protocols on protocol security, governance risk, yield transparency, TVL quality, and peg stability.

DeFi protocols are scored on: protocol security (40%), governance risk (30%), yield transparency (15%), liquidity (10%), and peg stability (5%). Protocol security combines audit depth and battle test duration. TVL Quality Discount: organic liquidity = 0% discount, mercenary liquidity = up to 50% discount. Critical hard rule (methodology example): an algorithmic stablecoin is capped at a maximum score of 20, regardless of other criteria (ALGO_STABLECOIN_CAP). Depeg trajectory above 0.003% per day triggers a warning.

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Infrastructure — Mining and Validator Scoring

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