Scope and Objectives
We combine over 80 qualitative and quantitative metrics to assign a grade to 54 active decentralised exchanges. These quantitative metrics are categorised into 7 categories, scoring each decentralised exchange on their security, transparency, community, market quality, user experience, and token incentives.
Each metric is converted into a series of points based on clearly defined criteria. Metrics are grouped into several categories, where category weighting is based on relative importance to the risk of an exchange. ‘Risk’ includes but is not limited to security risks, execution risks, management risks, and more.
Grading
A grading system was implemented to assign each exchange a final grade (AA, A, BB, B, C, D, E) based on its total cumulative score out of 100. Top-Tier exchanges refer to those that have scored at least 65 points (BB and above).
