Holy crap, S&P Global just launched DeFi vault risk ratings, with the highest grade being AAA(v). (Massive pump) I think this has a hugely positive impact on the industry. First, high-grade vaults will find it easier to get on institutional whitelists, securing more long-term and stable big money; Second, this money will continue flowing into underlying lending markets like Aave, Morpho, and Euler, boosting both lending depth and available liquidity; Third, RWA (Real World Assets) will benefit significantly, as assets like government bonds, funds, and private credit—those with more easily explainable credit quality—are naturally more acceptable to institutions. This standard will, in turn, push DeFi to upgrade itself. To achieve high ratings, things like asset concentration, redemption mechanisms, oracles, liquidation processes, admin rights, multisig, and upgradeability will all need to become more transparent and controllable.