Forgd and DefiLlama Launch Universal Token Ratings, the Crypto Industry's First Continuously Updated Token Rating Standard

More than 100 tokens receive AAA through CCC ratings that update in response to live market data.

NEW YORK, Aug. 26, 2026 /PRNewswire/ -- Forgd, a Web3 investment bank and advisory platform, and DefiLlama, the crypto industry's most widely used analytics platform, today announced the launch of Universal Token Ratings (UTR): the first rating standard in digital assets that continuously verifies whether a token project's real-world market performance aligns with its public disclosures.

Founders, investors, and researchers can now view a standardized 0–100 score and familiar AAA–CCC letter grade for more than 100 token projects, accessible directly on DefiLlama, the industry's default source for crypto market data.

Universal Token Ratings recalculate continuously as liquidity, spreads, trading volume, market maker uptime, and on-chain token unlocks evolve. A project's rating can deteriorate in real time when its market structure falters.

"Crypto has had transparency checklists, but the industry has never had a continuously updated rating system," said Shane Molidor, Founder and CEO of Forgd. "Our rating tells you whether the market is functioning right now. Universal Token Ratings are designed so that a score is something you have to keep earning."

A rating you can lose

The UTR is built from two independently scored axes, each graded 0–10. The Disclosure Axis (D) measures the completeness, quality, and freshness of what a project reports about itself. The Performance Axis (P) measures whether live market behavior validates those disclosures.

A project's final score is calculated by multiplying its disclosure score by its performance score. (UTR = D × P). Two mechanisms make the standard self-enforcing. Verified on-chain events (such as token unlocks, new exchange listings, changed market maker mandates) flow directly into the score with no refiling and no human intervention.

Distributed where the market already looks

Universal Token Ratings are available on DefiLlama, extending a partnership that began with the integration of Forgd's market maker leaderboard earlier this month. The ratings draw on data partnerships with DefiLlama, alongside Forgd's proprietary monitoring infrastructure tracking more than 500 token projects and 35 market-making firms.

"DefiLlama's mission has always been surfacing honest, unbiased data," said Ryan Celaj, Head of Research at DefiLlama. "Ratings calculated from live market data are a natural extension of that mission, and give our users a fast, standardized way to identify projects that deliver."

Ratings are filterable by valuation, sector, and exchange listing tier, with category-level breakdowns showing where each project is strongest. The ratings and full methodology are published at https://defillama.com/universal-token-rating.

About Forgd

Forgd is a Web3 investment bank and advisory platform equipping blockchain projects with tools for tokenomics design, market-maker engagement, liquidity monitoring, and exchange listing support. New projects can join for free at Forgd.com.

About DefiLlama

DefiLlama is the largest open-source data platform for DeFi and the broader onchain economy, tracking key metrics across thousands of protocols and chains with a publicly auditable methodology. Explore the data for free at defillama.com.

SOURCE Forgd