Bluechip is an independent, stablecoin rating agency. Our SMIDGE framework is the first publicly available, factor-based risk model for rating stablecoin safety. We score six factors (Stability, Management, Implementation, Decentralization, Governance, and Externals) and assign letter-grade ratings (from A+ to F). These factors cover what actually matters for stablecoins: reserve composition, redemption rights, smart contract risk, and more. All ratings are publicly available on our website, alongside our rating framework.
