Independent risk scores for tokenized funds Philidor monitors. Three product types: treasuries, T-bill stables, and on-chain credit. Pick a category below, then open any asset for the full due-diligence record.
Stablecoins and cash tokens backed primarily by T-bills.
Yield by basis: SEC 7d 3.49% (1). Total AUM & weighted yield withheld pending a canonical product-AUM model.
Ethena USDtb
Ondo US Dollar Yield
Regulatory wrapper
Jurisdiction
Custodian
Auditor
Each asset is scored 0-10 across five dimensions (issuer and custody, reserve transparency, redeemability, protocol security, liquidity). The category-specific weighted average maps to a tier: Prime at 8.0 or above, Core at 5.0 or above, Edge below 5.0. Scores sit next to the institutional fields an allocator uses to underwrite a wrapper: jurisdiction, KYC gate, custodian, auditor, attestation cadence, and redemption window.
Tiers
Review status
Per-category dimension weights
| Category | Issuer & custody | Reserve transparency | Redeemability | Peg stability | Governance | Liquidity |
|---|---|---|---|---|---|---|
| Tokenized treasury | 30% | 25% | 15% | 10% | 10% | 10% |
| T-bill stable | 25% | 20% | 15% | 15% | 10% | 15% |
| On-chain credit | 35% | 20% | 15% | - | 15% | 15% |
