Sky Lending
Best for audited protocol with published methodology
How it rates
- Audit report linked from a public dataset
- Accounting methodology published
- $5,646m recorded independently
- Single-chain deployment
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- MetIndependent audit report linked publicly
Audit report linked from the public protocol dataset.
security.makerdao.com/ - Met
- MetTracked by an independent analytics platform
Listed with published value and history.
defillama.com/protocol/sky-lending - Met
- Met
- Met
- MetProtocol economics published independently
Value and change history published.
defillama.com/protocol/sky-lending - Met
- PartialFee or reward model documented publicly
Application reachable for review; specific rates not captured at this check.
app.sky.money/ - MetNo account required to reach the application
Reachable without an account at this check.
app.sky.money/
- Met
- Met
- Met
- Not met
- Partial
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
- Met
The lending engine of the Sky ecosystem, holding $5.65bn with published audits and a decade of governance history behind it.
Our assessment
Sky Lending holds $5.65bn with two audits and reports linked, sharing the highest score in this comparison. It is the credit engine of the system formerly known as MakerDAO — the oldest continuously operating major protocol in DeFi.
A decade of operating through crises
This system has run through the 2018 bear market, the March 2020 liquidation failure, the 2022 collapse of centralised lenders and the 2023 banking crisis. Each event produced changes: emergency shutdown procedures, revised auction mechanics, collateral diversification. That accumulated learning is not something a newer protocol can acquire any other way.
Governance is the protocol
Collateral types, debt ceilings, stability fees and the savings rate are all set by token holders through public proposals. This has produced sound decisions and contentious ones, and the disagreements are on the record. For a depositor, being able to read why a parameter is what it is remains rare across DeFi.
Real-world assets changed the risk
Significant backing now comes from off-chain instruments held through legal structures. That improved yield and stability and introduced counterparty and legal risk that on-chain collateral does not carry. Anyone assessing the system should read the current collateral composition rather than assuming it is what it was.
Who it suits
Sky Lending fits users who want the most battle-tested credit system in DeFi with published audits and open governance. Users wanting purely crypto-collateralised exposure should read the composition first.
How rivals compare
| Service | Score | Best for | |
|---|---|---|---|
| Ondo Yield Assets | 9.3 | audited protocol with published methodology | Read → |
Frequently asked
Does this score mean Sky Lending is safe?
No. It measures what an outsider can verify: linked audits, published methodology and independently recorded data. Contract and custody risk are not tested by us.
Where do these figures come from?
A public analytics dataset queried at the verification date, plus the audit reports it links. Anyone can re-run the query.
Why do some protocols score zero on audits?
Because no audit report is linked in the public record. It records what a user can reach, not a claim that no audit exists.