The Protocol Ledger

Votes and upgrades on the largest crypto networks, explained as plain risk and reward. No hype, no price calls.

Published WeeklyDesk Technology1 issueReads Uniswap · Aave · Sky · Ethereum Foundation

Moody’s has rated a crypto dollar for the first time. The grade says high credit risk. Here is why.

Moody’s gave Sky, maker of the USDS and DAI digital dollars, a B3 rating. Its capital cushion is about 0.9% of assets; Moody’s says an upgrade needs above 2.5%.

No. 1 · 28 Oct · 5 min