Forgd and DefiLlama announced on Aug. 26 the launch of Universal Token Ratings, a framework that evaluates 128 digital assets on a 0-to-100 scale and assigns grades from AAA to CCC. The dual-axis system combines a Disclosure Axis covering tokenomics, vesting and team allocations with a Performance Axis that tests whether live market behavior supports those disclosures, and scores can weaken in near real time if market structure falters even when disclosures are unchanged. Uniswap’s UNI is the only AAA-rated asset, while Meteora’s MET, Curve DAO’s CRV, Raydium’s RAY, Olexchange’s O, Jito’s JTO, ether.fi’s ETHFI, Dogecoin’s DOGE, Zama’s ZAMA and Pyth Network’s PYTH hold AA grades. The firms position UTR as a continuously verified standard akin to decades-old bond ratings from Moody’s, S&P and Fitch, arguing it can strengthen institutional confidence; newly issued tokens at Token Generation Events start with provisional ratings that must be earned over time.