Stablecoin Risk Methodology
How we measure asset integrity for each token
Risk Tiers
Each token receives a score from 0–100 based on weighted risk signals. The score maps to a tier:
Risk Rating
The headline signal on every token is a letter grade from A+ to F. It’s mapped from the composite risk score (0–100, where 0 is safest and 100 is riskiest) — the lower the score, the better the grade:
The grade reflects a composite of peg stability, market stress, and structural risk (mechanism, governance, audits) — so it captures more than the live peg: a structurally weaker token won’t grade top even while on peg, while a token actively trading off peg is floored to a high risk score and grades accordingly. Bands are tighter at the safe end, where small score differences matter most.
What We Measure
The score is a weighted blend of independent risk signals. No single signal can dominate — a high score reflects several signals pointing the same way. We weigh these signal families:
How far the current price sits from the token’s expected peg.
How long the price has stayed away from peg, not just an instantaneous blip.
How much it would cost to exit a meaningful position — thin liquidity raises risk.
Sudden spikes in price volatility relative to the token’s recent baseline.
Whether the price agrees across trading venues and across chains; disagreement is a warning sign.
Unusual supply changes and the freshness of reserve / collateral attestations.
Whether reference price feeds are fresh and consistent with on-chain trading.
Velocity & MomentumNEW
Beyond the current score, we track how quickly risk is changing so that fast-developing depegs surface earlier.
How fast the risk score is changing. A rising score signals worsening conditions.
Whether the rate of change is itself speeding up — helps catch rapidly developing depegs.
When risk is climbing quickly, the score is nudged upward so warnings surface earlier rather than later.
Token Type Adjustments
Different token types have different expected behavior. The model adjusts so normal behavior isn’t mistaken for a depeg:
Traditional fiat-pegged stablecoins. Any meaningful move away from peg is penalized.
Yield-bearing tokens (e.g. sUSDe, sfrxUSD) are expected to trade above peg as yield accrues, so that premium is not treated as a depeg.
T-Bill backed tokens (e.g. BUIDL, mTBILL) whose value rises slowly with yields, so modest appreciation is expected.
XAU-pegged tokens (e.g. PAXG, XAUT) are scored against gold spot within a normal market spread.
Stability & Alert Smoothing
To prevent alert fatigue, tier changes require sustained conditions across consecutive readings rather than reacting to a single tick — a token has to stay in a worse state to be upgraded, and stay recovered to be downgraded. The most severe tier escalates fastest so genuine emergencies aren’t delayed.
Data Sources
Volume-weighted on-chain pricing and trading activity.
Estimated cost to exit a position at meaningful size.
Reference prices and feed freshness checks.
Independent pricing used to sanity-check on-chain quotes.
Want this data via API?
Every score, grade and signal on this page is available through the Webacy API — plug it straight into your own product.
