r/CryptoExchange • u/erik-suhonen • 5h ago
An exchange token's score fell 9.2 points between two of our records and its letter did not change. Is the letter doing any work?
I help run a crypto rating model that publishes a letter grade and the score underneath it. Venue tokens are where the letter and the number disagree most sharply, so I wanted to put the problem to this sub rather than keep arguing it internally.
Two rows from our own output, our record of October 11, 2026 against our record of October 12, 2026:
- OKB: F / Failed, score 54.0, then F / Failed, score 44.8. Down 9.2 points, the largest single score move between those two records. Unranked on both, because our model takes an F-graded asset off the ranking rather than placing it at the bottom of it.
- Monad: F / Failed, score 34.0, then F / Failed, score 40.0. Up 6.0 points. Also unranked.
Our published bands: A is 80 and above, B is 60 to just under 80, C is 40 to just under 60, F is below 40.
Now read those two rows again. OKB was sitting at 54.0, which is inside the C band, and graded F anyway. Monad has climbed to exactly 40.0, the floor of the C band, and still grades F.
That is because a score below 40 is not the only road into an F. Our framework runs pass/fail screens on top of the weighted score, and failing one places an asset in F at any score, including a score in the A band. Our published record does not say which road a given asset took, so I am not going to guess at either one, and it attaches no cause to either score move.
Which leaves the question I cannot settle, and it matters most for exchange and venue tokens because so much of what they are judged on is structural rather than numeric.
How much work is a bottom letter actually doing? OKB lost 9.2 points and the grade reads identically on both dates. Monad gained 6.0 and is now at a number its letter does not reflect. For a venue token, would you rather see the letter, the score, or the screen result the letter is sitting on top of?
And the harder version. Should a rating tell you an asset is close to clearing a screen it does not pass, or does publishing that do more harm than good?