The benchmark DeFi credit
markets have been missing.
The Credora Index tracks weighted-average APY across every Morpho rating band — A+ through D. For the first time, you'll know whether your yield is alpha or just unpriced default risk wearing a high-APY costume.
What it tracks
Four views. One honest picture.
Yield by rating band
Weighted-average supply APY for every Credora band — A+ through D — updated continuously. See exactly where the market is pricing risk.
Alpha vs. unpriced risk
Compare your portfolio yield against the index band it belongs to. If you're earning less than the A+ benchmark, you're taking on excess risk for nothing.
Historical spread evolution
Track how the yield spread between high- and low-rated markets compresses and widens over time. The signal is in the dispersion.
Risk-adjusted benchmarking
APY adjusted for PSL — the only honest comparison. Raw yield without default probability is noise. This is the number that matters.
Why it matters
Benchmark your portfolio
Know if your positions are earning above or below the market rate for their risk band.
Spot mispriced risk
When a B-rated market yields less than the A+ band, capital is misallocated. The index makes it obvious.
Report with credibility
DAO treasuries and institutional mandates can reference a standardised DeFi credit benchmark for the first time.
Early access
Get notified at launch
No commitment — just first access when the index goes live.