Watch
Adequate now, but with weaknesses worth watching.
Risk dimensions
Four deterministic scores (0–100). Expand any dimension for the cited rationale — every claim links to its on-chain source.
Averaged with equal 25% weight, the four scores give a composite of 69/100, which the grade ladder maps to BBB (band 60–69). Confidence (80) is a separate measure of how much evidence was readable — not a second score.
Overall
FBTC averages 68.5/100 across the four equally-weighted dimensions (collateral 72, contract 55, oracle 55, liquidity 92), mapping to a BBB letter grade. The asset's principal strengths are anchor-level liquidity backed by a $1.5B parent ecosystem [15] and strong institutional collateral across a diversified custodian network with recent SlowMist and BlockSec audits [1][4].
Offsetting these are concentrated single-owner control under an upgradeable UUPS proxy [8][10] and oracle reliance on a single attestation source with a monthly staleness window [11][12], which together cap the grade below A-tier. Missing disclosure on timelock, pause governance, and detailed issuer/audit scope reduces confidence.
On balance, FBTC presents investment-grade credit quality with centralization and oracle-cadence risks that warrant monitoring.
Reasoning verification
Re-fetch the reasoning JSON from IPFS, hash it in your browser, and check it against the hash stored on-chain.
On-chain record
- Grade (uint8)
- BBB · 3
- Reasoning hash
- 0x6bea7a43…c5b9f74b
- IPFS cid
- bafkreif…67zw3y ↗
- Agent identity
- ERC-8004 #114 ↗
- Ingest block
- 96,684,759
- Model
- claude-opus-4-8
- Contract
- 0xF16d…606D ↗