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.

Arunights · Grades

All grades

As of 2026-07-11Methodology v0.2.1Generated 2026-07-18
23
assets graded
17
yield dollars (Ring 0)
7
graded C+ or below
3
tombstones (realized failures)
18
in coverage queue
Risk grades for 23 covered instruments
Status
A
USDC
Circle · Regulated payment stablecoin (benchmark anchor) · $75.0B
89.6
draftconf high
A
BUIDL
BlackRock / Securitize · Tokenized institutional money market fund · $3.0B
88.8
draftconf high
A-
RLUSD
Ripple (Standard Custody) · Regulated payment stablecoin (benchmark)
84.6
draftconf medium
A-
OpenEden TBILL Fund
OpenEden · Tokenized T-bill fund
82.7
draftconf medium
A-
USDO (+ TBILL)
OpenEden · T-bill fund-backed yield dollar
79.7
draftconf medium
B+
USDS (+ sUSDS)
Sky (formerly MakerDAO) · Decentralized CDP stablecoin with savings rate · $8.0B
77.8
draftconf high
B+
USDY
Ondo Finance · Tokenized yield note (T-bill backed)
77.2
draftconf medium
B+
Gauntlet
Gauntlet Networks Inc. · Quant risk manager / vault curator · $905M
76.7
provisionalconf medium
B+
Steakhouse USDC (Morpho)
Steakhouse Financial (curator) · Curated stablecoin lending vault
76.1
provisionalconf medium
B+
Gauntlet USDC Prime (Morpho)
Gauntlet (curator) · Curated stablecoin lending vault
74.6
provisionalconf medium
B
mTBILL
Midas · Tokenized T-bill certificate
70.8
provisionalconf medium
B
GHO
Aave DAO · Decentralized CDP stablecoin
70.5
draftconf high
B
crvUSD
Curve · Decentralized CDP stablecoin (soft liquidation)
67.8
draftconf medium
B
USDe
Ethena · Delta-neutral synthetic dollar · $14.0B
64.4
draftconf high
B-
syrupUSDC
Maple Finance · Private-credit yield dollar · $2.0B
60.3
draftconf medium
B-
sUSDe
Ethena · Staked synthetic dollar (yield-bearing)
60
draftconf high
C+
USR
Resolv · Delta-neutral synthetic with junior tranche
56.3
provisionalconf low
C+
mBASIS
Midas · Tokenized basis-trade strategy
56.3
provisionalconf medium
C+
lvlUSD
Level · Restaking-collateralized yield dollar
51.7
provisionalconf low
C-
TelosC
TelosC (Switzerland) · Vault curator · $217M
37.2
provisionalconf medium
F
deUSD
Elixir · Failed synthetic dollar (contagion casualty)
11.6
tombstoneconf high
F
xUSD
Stream Finance · Failed synthetic yield dollar
9.8
tombstoneconf high
F
USDX
Stables Labs · Failed synthetic dollar (contagion + alleged founder-wallet drain)
7.9
tombstoneconf medium
Coverage queue (next up) — research candidates only, no grades or scores implied: frxUSD (Frax)USDL (Paxos/Lift)wM (M^0)scrvUSD (Curve)USTBL/EUTBL (Spiko)USD0/USD0++ (Usual)sFRAXcUSDOstUSRyUSD wrappersPT-collateral instruments (Pendle)XSGD (StraitsX)In reviewAE Coin (AED Stablecoin LLC)In reviewEURC (Circle)In reviewEUR CoinVertible / EURCV (Societe Generale-FORGE)In reviewEURAU (AllUnity)In reviewEurite / EURI (Banking Circle)In reviewAUDD (AUDC Pty Ltd)In review

“In review” = brief complete, committee pending — a research candidate has been independently researched and verified, not scored. No queue entry is a grade until the committee sets pillar scores in universe.json and the engine publishes it.