Independent ranking

Best DeFi Protocols

The largest DeFi protocols outside the categories ranked separately, scored on linked audits, published methodology and independently recorded size.

Kayla PetersonDeFi Research Analyst· Last checked August 10, 2026

Sky Lending

Best for audited protocol with published methodology

Counterparty & contract risk · 35%10.0

Cost transparency · 15%9.0

Market quality · 20%7.0

Transparency & track record · 20%10.0

Public documentation surface · 10%10.0

Pros

Audit report linked from a public dataset
Accounting methodology published
$5,646m recorded independently

Cons

Single-chain deployment

9.3/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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Ondo Yield Assets

Best for audited protocol with published methodology

Counterparty & contract risk · 35%10.0

Cost transparency · 15%9.0

Market quality · 20%7.0

Transparency & track record · 20%10.0

Public documentation surface · 10%10.0

Pros

Audit report linked from a public dataset
Accounting methodology published
$2,518m recorded independently

Cons

Several indicators could not be verified from public sources at this check

9.3/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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Centrifuge Protocol

Best for audited protocol with published methodology

Counterparty & contract risk · 35%9.0

Cost transparency · 15%6.0

Market quality · 20%8.0

Transparency & track record · 20%10.0

Public documentation surface · 10%9.0

Pros

Audit report linked from a public dataset
Accounting methodology published
$1,638m recorded independently

Cons

Several indicators could not be verified from public sources at this check

8.6/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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EigenCloud

Best for independently tracked protocol

Counterparty & contract risk · 35%8.0

Cost transparency · 15%7.0

Market quality · 20%8.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Audit report linked from a public dataset
$5,136m recorded independently

Cons

No accounting methodology published at this check
Single-chain deployment

7.8/10

Overall

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Ethena USDe

Best for independently tracked protocol

Counterparty & contract risk · 35%8.0

Cost transparency · 15%7.0

Market quality · 20%8.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Audit report linked from a public dataset
$3,916m recorded independently

Cons

No accounting methodology published at this check
Single-chain deployment

7.8/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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Steakhouse Financial

Best for independently tracked protocol

Counterparty & contract risk · 35%6.0

Cost transparency · 15%9.0

Market quality · 20%10.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Accounting methodology published
$3,195m recorded independently

Cons

No audit report linked in the public dataset at this check

7.8/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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Tether Gold

Best for independently tracked protocol

Counterparty & contract risk · 35%6.0

Cost transparency · 15%9.0

Market quality · 20%10.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Accounting methodology published
$3,091m recorded independently

Cons

No audit report linked in the public dataset at this check

7.8/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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Spiko

Best for independently tracked protocol

Counterparty & contract risk · 35%8.0

Cost transparency · 15%7.0

Market quality · 20%8.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Audit report linked from a public dataset
$2,341m recorded independently

Cons

No accounting methodology published at this check

7.8/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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Grove Finance

Best for independently tracked protocol

Counterparty & contract risk · 35%6.0

Cost transparency · 15%9.0

Market quality · 20%7.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Accounting methodology published
$2,436m recorded independently

Cons

No audit report linked in the public dataset at this check

7.2/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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10S

Sentora

Best for independently tracked protocol

Counterparty & contract risk · 35%6.0

Cost transparency · 15%9.0

Market quality · 20%7.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Accounting methodology published
$2,229m recorded independently

Cons

No audit report linked in the public dataset at this check

7.2/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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11B

Babylon Protocol

Best for independently tracked protocol

Counterparty & contract risk · 35%6.0

Cost transparency · 15%9.0

Market quality · 20%6.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Accounting methodology published
$2,659m recorded independently

Cons

No audit report linked in the public dataset at this check
Single-chain deployment

7.1/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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12P

Paxos Gold

Best for independently tracked protocol

Counterparty & contract risk · 35%6.0

Cost transparency · 15%9.0

Market quality · 20%6.0

Transparency & track record · 20%8.0

Public documentation surface · 10%8.0

Pros

Accounting methodology published
$1,898m recorded independently

Cons

No audit report linked in the public dataset at this check
Single-chain deployment

7.1/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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13B

BlackRock BUIDL

Best for independently tracked protocol

Counterparty & contract risk · 35%4.0

Cost transparency · 15%7.0

Market quality · 20%10.0

Transparency & track record · 20%6.0

Public documentation surface · 10%6.0

Pros

$3,514m recorded independently

Cons

No audit report linked in the public dataset at this check
No accounting methodology published at this check

6.3/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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14F

Figure Markets Exchange

Best for independently tracked protocol

Counterparty & contract risk · 35%5.0

Cost transparency · 15%6.0

Market quality · 20%5.0

Transparency & track record · 20%8.0

Public documentation surface · 10%7.0

Pros

Accounting methodology published
$1,606m recorded independently

Cons

No audit report linked in the public dataset at this check
Single-chain deployment

6.0/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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15C

Circle USYC

Best for independently tracked protocol

Counterparty & contract risk · 35%3.0

Cost transparency · 15%4.0

Market quality · 20%10.0

Transparency & track record · 20%6.0

Public documentation surface · 10%5.0

Pros

$3,005m recorded independently

Cons

No audit report linked in the public dataset at this check
No accounting methodology published at this check

5.4/10

Overall

Confidence ARubric v2.0Verified August 9, 2026

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At a glance

Compare the field

Service	Score	Strongest area	Best for
Sky Lending	9.3	Counterparty & contract risk (10.0)	audited protocol with published methodology
Ondo Yield Assets	9.3	Counterparty & contract risk (10.0)	audited protocol with published methodology
Centrifuge Protocol	8.6	Transparency & track record (10.0)	audited protocol with published methodology
EigenCloud	7.8	Counterparty & contract risk (8.0)	independently tracked protocol
Ethena USDe	7.8	Counterparty & contract risk (8.0)	independently tracked protocol
Steakhouse Financial	7.8	Market quality (10.0)	independently tracked protocol
Tether Gold	7.8	Market quality (10.0)	independently tracked protocol
Spiko	7.8	Counterparty & contract risk (8.0)	independently tracked protocol
Grove Finance	7.2	Cost transparency (9.0)	independently tracked protocol
Sentora	7.2	Cost transparency (9.0)	independently tracked protocol
Babylon Protocol	7.1	Cost transparency (9.0)	independently tracked protocol
Paxos Gold	7.1	Cost transparency (9.0)	independently tracked protocol
BlackRock BUIDL	6.3	Market quality (10.0)	independently tracked protocol
Figure Markets Exchange	6.0	Transparency & track record (8.0)	independently tracked protocol
Circle USYC	5.4	Market quality (10.0)	independently tracked protocol