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Digital Asset Risk Ratings

Programmatic Quality Assessments

Search Tokenized Asset Ratings

Explore tokenized treasuries and their respective ratings by Particula

Issuer Ticker Name Transparency Rating Grade
1
Backed Finance
$bIBTA
Backed IBTA $ Treasury Bond 1-3yr
100%
Investment Grade
2
OpenEden
$TBILL
Tokenized U.S. Treasury Bill Fund
100%
Investment Grade
3
Ondo Finance
$OUSG
Ondo Short-Term US Government Treasuries
100%
Investment Grade
4
Maple
$USDC1
Maple Cash
100%
Investment Grade
5
Midas
$mTBILL
Midas U.S. Treasury 0-1 Year T-Bill Fund
100%
Investment Grade
6
Mountain Protocol
$USDM
Mountain Protol's USDM
100%
Investment Grade
7
Matrixdock by Matrixport
$STBT
Short-term Treasury Bill
100%
Speculative Grade
8
Anemoy
$LTF
Anemoy Liquid Treasury Fund
100%
Speculative Grade
9
Dinari
$USFR.d
Dinari's USFR.d
100%
Speculative Grade
10
Gyroscope
$sGYD
Gyroscope Stablecoin
100%
Speculative Grade
11
Fortunafi
$fBILL
Fortunafi Capital LP - Class T-Bill
100%
Speculative Grade
12
Franklin Templeton
$FOBXX
Franklin OnChain U.S. Government Money Fund
93%
Investment Grade
13
Stakeup
$STTBY
Stakeup's iShares Treasury Bond 0-1 yr UCITS ETF
93%
Speculative Grade
14
FundBridge Capital
$SGDLTA
FundBridge Capital’s SGD Delta Fund
93%
Speculative Grade
15
DigiFT
$DMMF01
DigiFT USD Money Market Fund
93%
Speculative Grade
16
PVo1 Capital Markets
$TBL
Digital Treasury Bill
93%
Speculative Grade
17
Securitize
$BUIDL
BlackRock USD Institutional Digital Liquidity Fund
88%
Investment Grade
18
Superstate
$USTB
Superstate Short Duration US Government Securities Fund
88%
Investment Grade
19
Libre Capital
$LUMA
Libre SAF VCC - USD I Money Market A1
82%
Speculative Grade
20
Truefi
$tfBILL
TrueFi tfBILL
78%
Speculative Grade
21
OpenTrade
$TBV
Fixed Term US Treasury Bill Vaults
78%
Speculative Grade
22
Hashnote
$USYC
International Short Duration Yield Fund Ltd
78%
Speculative Grade

Tokenized Asset
Risk Ratings

As the landscape of tokenized assets rapidly evolves, precise navigation through its complexity and diversity becomes crucial for investors. Particula’s Tokenized Asset Risk Ratings, utilizing on- and off-chain data, are designed to provide investors with clear insights into the transparency, compliance, economic viability, technological integrity, and environmental impact of tokenized assets.

  • Performance Metrics Evaluation
  • Comprehensive Compliance Review
  • Advanced Security Analysis
Particula tokenized asset risk ratings data flow with offchain and onchain data

Automated Analysis and Risk Calculation

With our comprehensive market and rating intelligence, market participants gain access to valuable insights and analysis of tokenized financial and real-world assets.

This empowers them to make well-informed investment decisions, identify potential risks, and capitalize on emerging opportunities in the tokenized asset market.

  Data pipelines loaded. Database connection opened. Particula assessment analysis started.

Fetching blockchain transaction data... Fetching wallet holder data... Fetching decentralized exchange trades... Cleaning data sets and performing harmonization...

Starting analysis... Calculating market capitalization... Processing risk rating models over aggregated data...

Risk Level Categorization

Tokenized assets are rated across nine risk levels, from AAA (Highest Quality, Minimal Risk) to D (Full Exposure), providing a nuanced understanding of risk exposure.

Instant Red Flag Detection

Potential issues and critical changes that could affect the risk status of tokenized assets are continuously monitored and flagged, ensuring timely updates and alerts.

Comprehensive Comparison

The quality and transparency of an issuer, token, and underlying asset are evaluated in comparison to similar issuers within its category and the broader market, providing a relative perspective on its risks.

Our Analytical Approach

Particula’s Tokenized Asset Risk Rating Methodology employs a comprehensive analytical approach that combines traditional asset evaluation principles with advanced technology

Transparency

The “Transparency” category is pivotal in emphasizing the significance of clear, comprehensive, and accessible information concerning the tokenized asset and its associated underlying. Our focus lies on ensuring that stakeholders have comprehensive access to essential details about the issuing company and the tokens they offer. By evaluating the company’s online presence, key documents, and technical specifics, this category aims to foster trust and confidence. Our overarching goal is to provide investors and participants with a holistic understanding, promote informed decision-making, and strengthen issuer and asset credibility in the digital landscape.

Technology

The “Technology” category assesses the technical robustness and security of a tokenized asset and its underlying asset. It evaluates the thoroughness of smart contract audits and the ongoing security measures. The category furthermore examines token functionalities, such as invalidation and transfer permissions, and its technical and legal linkage to the underlying asset. We also assess the token’s adherence to recognized standards, look into the custody solutions provided and ensure that the project has strong disaster recovery and business continuity plans. This assessment ensures that the tokenized assets are built on a secure and technically sound foundation, offering reliability to stakeholders.

Compliance

The “Compliance” category assesses the legal and regulatory integrity of the tokenized assets and their issuers. It examines the issuer’s legal foundation, jurisdiction, and strategic collaborations. Key legal documents and token holder rights are scrutinized for clarity. The system ensures the issuer has necessary regulatory licenses, maintains transparency, and follows stringent KYC/AML processes. Our rating framework provides a secure and transparent investment landscape, confirming that the tokenized asset aligns with established legal standards.

Economics

The “Economics” category evaluates the financial structure and economic design of a tokenized asset and its underlying. It examines the token distribution and scrutinizes the token’s design, its role within the project, and any mechanisms that influence its value. We assess the project’s long-term viability, revenue strategies, and the token’s redeemability. Additionally, the category looks at market dynamics, including market capitalization, liquidity, and measures to stabilize token price. We also scrutinize the economic strategies of the company and any token restrictions, ensuring a robust and sustainable economic model for investors.

Environmental

The “Environmental Impact” category assesses the ecological footprint of a tokenized asset and its associated underlying. It checks for third-party verification, governance clarity, and risk management strategies. The category also evaluates project monitoring, reporting frequency, and long-term resilience. Emphasis is placed on the project’s scalability and its broader environmental and social benefits. Additionally, we quantify the blockchain’s carbon emissions and power consumption to assess carbon neutrality, ensuring digital assets promote environmental sustainability.

FAQs: Simplifying the Token Economy

Explore our frequently asked questions to learn more about tokenized assets and our rating system

A tokenized refers to any tangible or intangible asset that has been converted into a digital token on the blockchain. This process enhances the liquidity, transparency, and accessibility of traditionally illiquid assets by making them tradable on digital platforms.

Particula's valuation scope primarily focuses on financial assets, including fixed-income securities and equities. However, our framework is versatile through dynamized underlying asset schemes and can be used for a wide range of asset-backed tokens that are either tokenized or natively issued on-chain. This includes over 20 different asset classes such as environmental assets (e.g., carbon credits, renewable energy certificates, biodiversity credits), commodities (precious metals and rare earths) and real assets (infrastructure, land, real estate). A detailed overview of the asset-backed token categories, that we evaluate can be found in our Particula Digital Asset Classification System (PDACS).

Our rating system scrutinizes digital assets from two perspectives: as a technical product and as a comprehensive financial asset. Initially, we compile information from the asset issuer, publicly accessible data and trusted third-party sources, aligning them to our proprietary data standard. This encompasses 300 distinct quantitative and qualitative metrics. We then generate a transparency score, gauging the availability of the necessary data for rating. Subsequently, leveraging our large language model, we create additional scores reflecting the asset's technical implementation, compliance, environmental, and economic attributes. Combined with the transparency score, these are translated into a comprehensive risk rating ranging from AAA (Highest Quality, Minimal Risk) to D (Full Exposure). As we evolve our rating process, we intend to incorporate numeric modifiers (+/-) to deliver a more granular and precise classification. The rating indicates the quality of the investment instrument and the consequent likelihood of a total loss for the investor. For detailed information, please refer to our analytical approach

Our ratings are regularly updated automatically to reflect the latest information and market developments. The frequency of updates depends on the asset type and the availability of new data. On-chain data is updated in real time, while off-chain data or data from the issuer triggers event-based updates. Additionally, ratings are manually checked at least once a month for quality assurance.

Yes, we welcome requests for ratings of specific tokenized assets. If you are an issuer or an investor interested in a particular asset that is not currently rated on our platform, you can submit a request through our website. Our team will review the request and, if it meets our criteria, we will conduct a comprehensive analysis and rating of the asset.

We source our data from a variety of channels to ensure comprehensive coverage and accuracy. This includes direct information from issuers through digital questionnaires, data scraping from the blockchain, and public sources such as news outlets, reports, and social media. Additionally, we also collaborate with independent third parties that provide supplementary data, further enhancing the depth and quality of our asset database.

Ensuring data quality and reliability is central to our mission. We employ rigorous data verification processes and utilize multiple data sources to confirm the accuracy of our information. The data is also continually monitored and updated to reflect real-time changes. We complement our in-house data with information from independent third parties who for instance provide company data or verify the quality of underlying assets.

Our platform operates on a subscription-based model, where users pay a fee to access our comprehensive market intelligence, rating intelligence, and due diligence on-demand services. Importantly, we do not charge issuers for rating their tokenized assets. This approach ensures that our ratings are unbiased and free from any potential conflicts of interest. Our primary focus is on providing accurate, reliable, and impartial information to our subscribers, helping them make well-informed decisions in the tokenized asset market.

We are committed to operating within the bounds of regulatory frameworks. Currently, our digital asset risk ratings provide investment recommendations in accordance with §86 of the German Securities Trading Act. As we continue to evolve and expand our services, we are actively working towards obtaining the corresponding regulation for credit rating providers at the EU level. This will enable us to offer our services with even greater assurance of compliance and quality across the European Union.

We are always here to help and answer any questions you may have. You can reach out to our support team through the contact form on our website, or by sending an email to info@particula.io. We aim to respond to all inquiries within 24 hours.

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