This article is worth a thorough study by all DeFi enthusiasts and practitioners!

Just a few days ago, I wrote about Spark @sparkdotfi launching the vault rating, and we can continue to discuss this action in depth—

Let’s return to a long-avoided pain point in DeFi: on-chain, the best at quoting, and the worst at accountability.

APY, TVL, utilization rate, borrowing demand, these indicators are showcased by all protocols, but when it comes to underlying risk disclosure, loss paths, and responsibility division, the vast majority of protocols are unwilling to discuss.

Because they only curate and only need to showcase various assets to attract the liquidity you have in hand; who cares whether these assets are fundamentally safe or not.

So my judgment on Spark @sparkdotfi's introduction of the Credora rating is:

It is not merely creating a more appealing front-end label, but is seizing the rights to explain risks in DeFi.

This move is somewhat akin to early companies obtaining Moody's ratings.

Ratings themselves are certainly not a talisman, but whoever first standardizes risk, and is willing to accept external scrutiny, will find it easier to access that picky, yet hardest to budge, high-quality capital.

This matter cannot be accomplished just by a marketing long article claiming "trust me, it's safe."

Once risk ratings are embedded in the deposit entrance, the competition logic among DeFi vaults will shift from comparing yields to entering the "Low-Risk DeFi" phase, which V God @VitalikButerin has repeatedly mentioned.

If a vault is really to become an on-chain asset manager, then ratings are not just an added bonus but the most basic professional threshold:

Only vaults that incorporate ratings are qualified for faster deposit growth, higher capital retention, and more stable curator credibility!

Spark is currently the beneficiary, but in the future, the entire DeFi sector will face this issue.

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