Credora
Credora provides on-chain credit risk ratings for DeFi lending markets, vaults, and asset tokens using Monte Carlo simulations, serving DeFi protocols (Morpho, Spark, Lista DAO), vault curators, and institutional allocators via a web app and whitelisted GraphQL API.
- Company typePrivate
- Founded2019
- HeadquartersSan Rafael, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Credora does
Credora provides on-chain credit risk ratings for DeFi lending markets, vaults, and asset tokens. Its core product is a unified A+ to D rating scale derived from 100,000 Monte Carlo simulations per market, calibrated on 30+ years of institutional credit data, with a modular bottom-up framework that decomposes vault risk into collateral asset PDs, loan pair Probability of Significant Loss (PSL), and vault-level aggregation. Credora rates 108 vaults, 177 markets, and 51 assets across integrated protocols including Morpho, Spark, Lista DAO, Lido, Catalysis, Lotus, and Nuvolari, and exposes these ratings through a self-serve web app and a whitelisted GraphQL API. The company's primary customers are DeFi lending protocols, vault curators, yield aggregators, and institutional allocators requiring compliance-defensible risk documentation for on-chain positions.
Credora monetizes through commissioned protocol risk ratings and subscription-based whitelisted API access, with no public pricing and a direct-sales plus API-first go-to-market motion. Its core products include the DeFi Risk Ratings service, protocol-specific rating reports (Morpho, Spark Savings, Lista DAO), the Credora Rating App, and the GraphQL API. Specialized methodologies cover isolated collateral, rehypothecated collateral, no-liquidation pairs, liquidity pool LP-collateral, and Spark Savings products. In September 2025, Credora was acquired by RedStone, a DeFi oracle network, and now operates as "Credora by RedStone" with risk ratings integrated into RedStone's broader oracle and data distribution infrastructure. Legal entity is Credora Ratings Group Ltd., incorporated in the British Virgin Islands, with operations based in San Rafael, United States, and 11-50 employees.
Credora firmographics
Firmographics- Name
- Credora
- Legal name
- Credora Ratings Group Ltd.
- Website
- https://credora.network
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Credora provides on-chain credit risk ratings for DeFi lending markets, vaults, and asset tokens using Monte Carlo simulations, serving DeFi protocols (Morpho, Spark, Lista DAO), vault curators, and institutional allocators via a web app and whitelisted GraphQL API.
- Ownership category
- akta.pro rank
Credora industry classification
Industry- Product category
- DeFi Credit Risk Ratings
- NAICS
- Other Activities Related to Credit Intermediation (522390), Portfolio Management and Investment Advice (523940), Credit Bureaus (56145)
- SIC
- Finance Services (6199), Investment Advice (6282)
- akta.pro primary industry
- Borrowing/Lending Risk & Credit Infrastructure (on-chain credit scoring, risk engines, insurance wrappers) (FSAPAEAI)
- akta.pro secondary industries
- Lending Protocol Infrastructure (Oracles, Rate Models, Vaults) (FSADAFAN), Yield Aggregators, Auto-Compounding & Strategy Vaults (DeFi Yield) (FSADAHAK)
Keywords
Where Credora is headquartered
LocationHeadquarters
- HQ city
- San Rafael
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Credora business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Credit Rating Services (Commissioned Ratings): Credora provides risk ratings for DeFi vaults, lending markets, assets, and protocols. Ratings are available as 'commissioned' (paid, requested by protocols) or 'indicative' (public). This suggests a B2B SaaS model where protocols and institutions pay for comprehensive risk assessment services.
- API Access (Whitelisted B2B Access): Credora operates a GraphQL API (api.credora.io/graphql) providing programmatic access to ratings data. Access requires whitelisting approval, indicating a gated enterprise API model where protocols, asset managers, and institutional participants pay for API access to power risk management within their own platforms.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Credora product offering
Product offeringCore offering
Credora provides standardized, institutional-grade credit risk ratings for DeFi tokens, lending pairs, and vaults, expressed on a unified A+ to D scale derived from 100,000 Monte Carlo simulations per market. The platform also offers a GraphQL API and a self-serve web application exposing risk metrics (Probability of Default, Probability of Significant Loss) for 108 vaults, 177 markets, and 51 assets across protocols such as Morpho, Spark, and Lista DAO.
Product overview
Credora by RedStone is a DeFi-native credit risk rating platform that provides standardized, institutional-grade risk assessments for on-chain lending markets, vaults, and asset tokens. The offering is architected as a platform (the Credora Rating App and GraphQL API) delivering multiple rating products across supported DeFi protocols. The core product is the DeFi Risk Ratings service, which evaluates tokens, lending pairs, and vaults on a single unified A+ to D scale using Monte Carlo simulations. Ratings are available through the Credora Rating App (for manual exploration of 108 vaults, 177 markets, and 51 assets) and the GraphQL API (for programmatic access). Protocol-specific rating products include Morpho Vault Ratings, Lista DAO Vault Ratings (adapted for BNB Chain), and Spark Savings Ratings — all built on a common modular methodology framework (Asset Rating, Loan Pairs, Vaults/Pools, Liquidity Pools) that feeds into a unified risk scale. The platform was acquired by RedStone in September 2025 and operates as Credora by RedStone.
Differentiator
Problem solved
Functional benefit
Products and services
- DeFi Risk Ratings Standardized credit risk ratings for DeFi tokens, lending pairs, and vaults, expressed on a unified A+ to D scale. Ratings are derived from 100,000 Monte Carlo simulations per market using institutional-grade probability-of-default methodology calibrated on 30+ years of credit data, targeting DeFi protocols and institutional allocators.
- Credora Rating App A web-based data application providing access to Credora's risk ratings covering 108 rated vaults, 177 markets, and 51 assets. Users can explore ratings, view risk metrics, and access vault and market rating data through a unified interface.
- Credora GraphQL API A GraphQL API endpoint (https://api.credora.io/graphql) that provides programmatic access to Credora's ratings data, including vault ratings, market ratings, and asset ratings. Access requires whitelisted API key authentication. Supports filtering by protocol, product, chainId, curator, and address, with pagination.
- Morpho Vault Ratings Comprehensive risk ratings for Morpho vaults, evaluated through a bottom-up framework covering collateral assets, markets, and vault-level aggregation. Vault ratings are expressed as aggregate Probability of Significant Loss across all underlying exposures on a unified A+ to D scale.
- Spark Savings Ratings Live ratings for Spark Savings products (sUSDS, spUSDC, spUSDT, spPYUSD, spETH, stUSDS) reflecting current collateral composition and market conditions. Ratings are updated within 24 hours of material exposure changes, with continuous monitoring via BlockAnalitica data feeds.
- Lista DAO Vault Ratings Risk ratings for Lista DAO vaults on BNB Chain, employing the bottom-up three-level assessment framework (collateral assets, markets, vaults) adapted for the BNB Chain ecosystem. Includes coverage of Smart Lending markets that accept liquidity pool tokens as collateral, with distinct oracle classification, volatility modeling, and liquidation liquidity assumptions.
- Risk Assessment Methodologies A suite of publicly documented risk assessment frameworks covering Asset Rating Framework (for tokens, stablecoins, and RWAs), Loan Pairs with Isolated Collateral, Loan Pairs with Rehypothecated Collateral, Vaults/Pools, and Liquidity Pools methodologies. The underlying algorithm is proprietary while the methodology is open and publicly documented.
Quantifiable outcome
- Rated vaults on Morpho have demonstrated stickier TVL than unrated vaults, as independent ratings give protocols the trust factor their users value.
- +1 more outcomes
Companies that use Credora
Customer profileNamed customers7 records
Segments6 records
Ideal customer profiles5 records
Credora technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature10 records
Credora partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- RedStonecoreRedStone, a DeFi oracle network, acquired Credora in September 2025. The acquisition integrates Credora's on-chain credit rating capabilities into RedStone's oracle infrastructure, enhancing risk assessment and transparency for DeFi protocols. Post-acquisition, Credora operates as Credora by RedStone, leveraging RedStone's oracle data feeds and expanding its market presence as part of the RedStone ecosystem.
- BlockAnaliticacoreBlockAnalitica provides Spark collateral position data via the BlockAnalitica API (open.data.blockanalitica.com) which Credora uses for real-time monitoring of USDS collateral composition across stablecoins, lending markets, liquidity pools, private credit, and T-bills. This data feed enables Credora's daily automatic rating recalculation within 24 hours of material exposure changes.
- MorphocoreMorpho is Credora's primary live implementation partner where ratings are actively deployed. Credora's rating framework (Assets → Markets → Vaults hierarchy) is natively integrated into Morpho's vault architecture, providing risk assessments for all rated Morpho vaults. Morpho ratings are live on Credora's platform.
- SparkcoreSpark (SparkLend, Spark Savings) is an integrated protocol where Credora publishes live ratings for Spark Savings products (sUSDS, spUSDC, spUSDT, spPYUSD, spETH, stUSDS) and Spark vault ratings. Credora monitors Spark's collateral composition continuously and updates ratings within 24 hours of material changes.
- Lista DAOcoreLista DAO is a permissionless, non-custodial lending protocol on BNB Chain where Credora's vault and market rating methodology is implemented. Credora rates Lista DAO's markets and vaults using specialized BNB Chain-specific oracle classification and liquidation liquidity assumptions.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Credora competitors and assessment
Company assessmentDirect peers
- Gauntlet: Gauntlet provides DeFi risk parameter optimization and analytics for protocols such as Aave, Compound, and Synthetix using quantitative simulation methodologies. Closely comparable to Credora as both firms apply institutional-grade quantitative methods (simulations, parameter optimization) to on-chain lending markets and are positioned as risk infrastructure vendors for DeFi.
- Chaos Labs: Chaos Labs offers DeFi risk monitoring, simulation, and oracle-aligned risk infrastructure for protocols including Aave, MakerDAO, and GMX. Both Credora and Chaos Labs monetize by selling institutional-grade DeFi risk intelligence to protocols and allocators, directly competing for the same vendor budget.
- Llama Risk: Llama Risk is the DeFi risk assessment arm of DefiLlama, providing risk reviews and ratings for protocols such as Aave, Morpho, Compound, and others. Like Credora, it sells standardized risk opinions to institutions evaluating DeFi exposure and competes for the same protocol-rating commissions.
Broad incumbents
- Moody's Ratings: Moody's is a global incumbent credit rating agency whose PD-curves-based methodology and Aaa–C rating scale are conceptually equivalent to Credora's calibrated approach. As Moody's increasingly publishes digital asset ratings, it represents a major competitor for institutional risk-vendor budgets.
- S&P Global Ratings: S&P Global Ratings is the dominant incumbent credit rating agency with centuries of structured-credit methodology and global institutional distribution. While currently focused on traditional finance, its methodology frameworks (PD calibration, A+ to D scale) closely parallel Credora's approach and represent the primary institutional incumbent threat as it expands into crypto.
- Fitch Ratings: Fitch Ratings is a global incumbent rating agency that, alongside its parent ICE, has begun exploring digital asset coverage. Its broad-spectrum credit-rating capability and institutional relationships make it a comparable incumbent competitor if it moves deeper into DeFi credit.
Emerging players
- RiskDAO: RiskDAO provides DeFi risk analytics including coverage/protection assessments for protocols like Curve and Convex. It is an emerging peer with adjacent scope — DeFi risk quantification for protocols and allocators — though historically more oriented toward protection/protection markets than credit ratings.
Others
- BlockAnalitica: BlockAnalitica provides on-chain data infrastructure (including Spark collateral position data via open API) that Credora depends on for real-time rating updates. It is an enabler / data vendor rather than a direct competitor, but materially adjacent to Credora's product surface.
- Chainlink Labs: Chainlink is the leading decentralized oracle network — analogous to Credora's new parent (RedStone). While not a direct competitor to ratings, it is the broader oracle/data-infrastructure peer that competes with RedStone's full stack, including any future ratings plus oracle bundle.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Credora social profiles
Digital presenceCredora financial estimates
Financial estimateRevenue estimate
Valuation estimate
Credora leadership team
Management profileNumber of profiles
Credora funding detail
Funding detailFunding overview
Funding rounds4 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Credora M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Credora
What does Credora do?
Credora provides standardized, institutional-grade credit risk ratings for DeFi tokens, lending pairs, and vaults, expressed on a unified A+ to D scale derived from 100,000 Monte Carlo simulations per market. The platform also offers a GraphQL API and a self-serve web application exposing risk metrics (Probability of Default, Probability of Significant Loss) for 108 vaults, 177 markets, and 51 assets across protocols such as Morpho, Spark, and Lista DAO.
Is Credora a public or private company?
Credora is a private company. It is classified as corporate owned and is currently operating.
When was Credora founded?
Credora was founded in 2019. It employs 11 to 50 people.
Where is Credora based?
Credora is headquartered in San Rafael, United States, in the North America region.
How does Credora make money?
Two revenue lines are on record. Credit Rating Services (Commissioned Ratings) is the primary driver. The others are API Access (Whitelisted B2B Access).
Who are Credora's main competitors?
Direct peers on record are Gauntlet, Chaos Labs and Llama Risk. Broad incumbents are Moody's Ratings, S&P Global Ratings and Fitch Ratings. RiskDAO is listed as an emerging player. Others are BlockAnalitica and Chainlink Labs.
Does Credora have an API?
Yes. Credora offers a GraphQL API (endpoint: https://api.credora.io/graphql) that exposes ratings information alongside unique data points for powering risk management across protocols, asset managers, and active onchain participants. Access requires whitelisted access, which can be requested via a Google Form. Once approved, users receive a Client API Key. All GraphQL requests must include the HTTP header 'ClientSecret: your-api-key'. The API provides unified ratings queries with optional filtering by protocol, product, ratingType, chainId, curator, and address, with pagination support (page and limit parameters). The API also has legacy endpoints for retrieving Morpho vault ratings, though these are deprecated in favor of the unified ratings query. Data includes rating values on a DeFi scale, PSL (Probability of Significant Loss), and publish dates. Developer documentation is at www.credora.network/docs/api-documentation.
What industry is Credora in?
Credora's product category is DeFi Credit Risk Ratings. Its primary akta.pro industry code is FSAPAEAI, Borrowing/Lending Risk & Credit Infrastructure (on-chain credit scoring, risk engines, insurance wrappers), with a secondary code of FSADAFAN, Lending Protocol Infrastructure (Oracles, Rate Models, Vaults). Its NAICS code is 522390 and its SIC code is 6199.