Neemo Finance

Our assessment

Neemo Finance scores 9.2 on evidence — two audits with reports linked across two chains — while holding roughly $1m. That combination is worth explaining, because a high score at this size means something different from a high score at Kelp's.

What the score is and is not saying

Our rubric rewards published evidence: audits, documentation, disclosed mechanics. Neemo provides those. It does not and cannot reward scale, beyond a market-quality pillar weighted at 15%. A well-documented small protocol scores well because it has done the things a protocol can control.

Why $1m matters anyway

At this size there is effectively no secondary market for the derivative, so exiting means using the protocol's own redemption path and waiting. There is little adversarial attention, so bugs are less likely to have been found by anyone. And the protocol's continued operation depends on a very small revenue base.

The category's risks still apply

Restaking compounds slashing exposure across services with short histories. A small protocol does not reduce that risk; it means fewer people are watching for it. Published audits are genuinely valuable here and they examine code, not the economics of the services being secured.

Who it suits

Neemo suits users specifically active in its ecosystem who value published audits, in amounts they can leave until redemption. Users wanting liquidity and depth should use Kelp or ether.fi.