Operational Security
Evaluates whether the protocol's infrastructure can absorb real failures under adverse conditions. The cluster comprises sub-metrics — Incident Playbook, Privilege Scope, Key Custody Environment, Circuit Breaker Sophistication, Redemption Risk, and Loss Absorption Capacity — each scored on a three-tier rubric and combined into a cluster-level assessment.
For a tokenized instrument, the relevant pool of sub-metrics is smaller since the on-chain logic surface is usually thin. Only Key Custody Environment and Redemption Risk are considered in the class.
Circuit Breaker Sophistication
How quickly and reliably a protocol can halt fund-touching activity during an attack, measured by detection-to-halt latency and scope.
Incident Playbook
Whether a protocol has a defined and rehearsed process for detecting and responding to a compromise.
Key Custody Environment
How keys controlling privileged roles are stored, and whether a single point of failure exists in that setup.
Loss Absorption Capacity
Whether an explicit, liquid backstop exists, how large it is, and how it is activated when losses occur.
Privilege Constraints
How easily privileged actions execute and how much time the community has to respond, covering quorum thresholds and timelock duration.
Privilege Scope
The blast radius of a single privileged-key compromise, including whether privileged roles carry custodial reach over user funds.
Redemption Risk
The reliability of user exits under stress: withdrawal predictability, unbonding behavior, and whether exits can be unilaterally paused.