DeFi Safety
Published in

DeFi Safety

DeFiSafety: Chain Scores

We at DeFiSafety spend a lot of time thinking about technical risk. We have up to this point focused exclusively on protocols and given them scores based on process quality. In doing so, we have been aware that we’ve often neglected to consider the importance of the network itself on which our users interact with the protocols we rate.

With this product, we complete the DeFi Trident. Tomorrow, you will be able to get a score on the specific contract you’re interacting with, a score from the protocol that created the contract and a score on the chain to which the contract is deployed to. Inform your decision making with our analyses to allow you to focus on your DeFi strategy.

Example scores

This leads to a substantial gap in our analyses: what is the value of trusting a protocol if you cannot trust the infrastructure that it is dependent upon? As such, we want to fill this gap with a generalised chain-specific score so that you can more carefully evaluate the risk of the DeFi decisions you’re considering specific to the environment in which you’re making them.

At launch we will have the following chains available for users to see reports on:

  • Ethereum
  • BnB Chain
  • Avalanche
  • Solana
  • Tron
  • Arbitrum
  • Polygon
  • Terra
  • Ronin
  • Fantom

We will have all major TVL chains ranked as soon as possible. We will soon review asset chains such as Bitcoin and Litecoin too.

These chain reviews will be in a familiar and easily comparable format for maximum utility. They are a paid product that is complementary to our Protocol Scores. For the full suite of DeFiSafety analysis, you should consider equipping your decision making with our Contract Scores product alongside these Chain and Protocol Scores.

Here’s how you can access the Chain Scores:

Visit defisafety.com and sign up. You can do so either with an email address or a wallet such as Metamask. Accessing contract scores is a paid service. For more information relating to this and why we are switching to revenue, please read this article.

They are presented in an easily digestible format that anyone can verify how we got our answers. We make sure to leave as little grey area as possible and ensure that each of our responses is as divorced from bias as possible.

The chain scores will be frequently updated and iterated upon in a similar way to how we’re working on 0.9 of our Protocol Scores from our original 0.1 process two years ago.

This ensures our technical risk data remains entirely independent so that there is no risk of conflict of interest when you are using it. Our incentives are completely aligned with our users. Our value proposition is entirely dependent on this, so rest assured we understand the importance of objective data.

Following our tried and true Protocol Score model, we run a series of tests on each chain. They consider five different areas at the moment: nodes, supporting software, documentation, testing and security.

We have made sure to keep these processes as transferable as possible so that one chain can be meaningfully compared to another. While no process will be perfect, we have spent a significant amount of time considering ways to ensure this. Indeed, we will be reiterating perpetually on this process to ensure that the data remains accurate and relevant.

We look forward to hearing about how you will arm your DeFi decision making processes using our new products! To sign up click here.

As always, please reach out to us in our telegram channel for clarifications.

We rate DeFi products on software quality and use of best practices. In DeFi, you have to trust the software as there is nothing else backing you up.

Recommended from Medium

UltraFunnels Video Review + Words from the developer

Automation with Puppeteer

Load Balancing Spring Cloud Applications using Eureka and Spring Cloud Gateway

A Tour of Android Studio — Part 1(Building Our first app)

How to Schedule Jira Issues in Google Calendar | Reclaim.ai

Solving Popular Algorithms: Matrix Diagonal Sums

Notes on Oracle Coherence

Notes on Oracle Coherence

Hey guys upgrade you Kiku Tier now for enormous benefits😋🔥 🔥KoiStarter Introduces Exclusive…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Nick

Nick

Protocol Analyst @ DeFiSafety

More from Medium

Hotpot V3 47th Weekly Report

WTF is…Element Finance?

Introducing Jynx DAO — Realizing the Potential of Decentralized Derivatives

Future Swaps on DeFiChain: A Technical Discussion and Tutorial