Researchers propose a credit risk assessment framework for DeFi lending vaults

According to Blockworks, researcher Anastasiia and others proposed in the paper "Vault as a credit instrument" that DeFi lending vaults lack a unified credit risk evaluation standard. The research introduces five core indicators to analyze the risks under different "mechanical loss channels" and builds a credit scoring system for vaults. The paper points out that on-chain features such as oracle bias, liquidation failure, and congestion risk challenge the assumptions of traditional financial models, requiring new methods for risk quantification. The framework combines on-chain data, parameter identification, and stress testing, aiming to improve DeFi risk management and transparency.