v0 previewGrades are draft or provisional: produced under Methodology v0.2.1 from public evidence, pending re-verification and issuer right-of-reply. Nothing here is investment advice, and these are not credit ratings.
← All grades

lvlUSD

Level · Restaking-collateralized yield dollar · Ethereum · as of 2026-07-11

Yield sourced from lending/restaking of reserve assets — stacking protocol risk on top of dollar exposure. Young instrument; the restaking dependency chain is exactly the kind of structure this scale exists to flag. Verify current reserve deployment before publishing.

Reserves not fully verifiable
C+
51.7
provisionalconf low
Haircut: 55.0%
base 30% (C+) x 1.50 (low confidence) + 0pp class + 10pp flags
Illustrative — not a margin requirement.
Backing & reserves50 · 25%
Stable reserves deployed into lending/restaking strategies; deployment map not fully verifiable in this review. [1]
Redemption & exit55 · 20%
Redemption subject to strategy liquidity. [1]
Counterparty & custody45 · 15%
Restaking/lending venue chain compounds counterparties. [1]
Peg & market infrastructure58 · 15%
Limited stress history. [1]
Leverage & rehypothecation45 · 15%
Yield-loop incentives inherent to the design. [1]
Transparency & governance60 · 10%
Docs exist; verification gaps drive the cap. [1]
What would change this grade: Published, verifiable breakdown of reserve deployment with conservative venue caps would raise Backing and confidence.
Live price

Loading…

Model signals
Not yet computed

The quantitative signal layer (stress-tested loss distributions, peg/leverage/backing metrics) is in development — see pivot/08_QUANT_ENGINE_SPEC.md. When live, signals are computed continuously by a model; grades are always signed by the analyst. The two are shown separately and never conflated.

Evidence appendix
Backing & reserves: [1]
Redemption & exit: [1]
Counterparty & custody: [1]
Peg & market infrastructure: [1]
Leverage & rehypothecation: [1]
Transparency & governance: [1]
As of 2026-07-11 · Methodology v0.2.1