DeFi Strategy & Protocol Economics Advisors · OBOL rating
LlamaRisk review
LlamaRisk is a DeFi risk firm that designs risk frameworks, parameter policies and risk oracles, most visibly as Aave's risk service provider.
7.6/10
Solid
Score breakdown
Category rubric →- Published research and modelsweight 25%7.0avg 7.5
- Client-confirmed workweight 20%10.0avg 3.8
- Recent economics workweight 20%10.0avg 6.9
- Conflict-of-interest disclosureweight 15%5.0avg 1.7
- Named teamweight 10%3.0avg 6.0
- Transparent termsweight 10%8.0avg 8.0
this service category average across 15Score = Σ mark × weight. A criterion with nothing published scores 0. Methodology.
The evidence behind each mark
Scoring rules →| Criterion | Mark | What we found | Source | Checked |
|---|---|---|---|---|
| Published research and models | 7.0 | Dated research reports for Aave, Curve and Ethena plus open-source code on GitHub (risk contracts, proof-of-reserve, one archived notebook), but no open simulation models or papers. | llamarisk.com ↗ | 22 September 2026 |
| Client-confirmed work | 10.0 | 4 clients named on its site (Aave, Ethena, Chainlink, Curve); all 4 confirmed by the client side. | github.com ↗ | 22 September 2026 |
| Recent economics work | 10.0 | Most recent dated economics work: Risk Steward cap and interest rate recommendations for Aave V3, including raising the USDe base borrow rate to 6%, posted 9 September 2026. | governance.aave.com ↗ | 22 September 2026 |
| Conflict-of-interest disclosure | 5.0 | Token compensation is disclosed in its public Aave renewal (5,000 AAVE plus GHO), but no conflict of interest policy was found. | governance.aave.com ↗ | 22 September 2026 |
| Named team | 3.0 | Only the founder is named, under the pseudonym WormholeOracle; the Aave proposal gives team size (16) but no names. | smartcon.chain.link ↗ | 22 September 2026 |
| Transparent terms | 8.0 | Public governance proposals set out scope, one-year term and price, but this is a per-client proposal rather than a general price guide. | governance.aave.com ↗ | 22 September 2026 |
What we liked, and what fell short
Liked
- Every named client engagement is confirmed by the client side (Aave on-chain proposal, Ethena docs, Chainlink, Curve governance)
- Engagement scope, term and compensation are public in governance proposals
- Regular, dated research reports tied to named client work
Fell short
- Committed to phasing out non-Aave work, so availability for new clients is doubtful
- Founder is known only by the pseudonym WormholeOracle and no team page was found
- No standalone conflict of interest policy published