CoinMeta Data: S&P Global Ratings is extending its risk analysis capabilities into the field of decentralized finance (DEFI), launching standardized assessments for the lending market. The new risk assessment (VRA) will evaluate the relative risk of losses that investors may incur while holding on-chain lending positions. According to S&P, the capital in lending positions grew from approximately $1.5 billion in September 2024 to $10 billion in September 2026. S&P makes it clear that this assessment (VRA) is not a credit rating, nor is it an evaluation of investors' expected returns; rather, it focuses on the potential for losses that capital may suffer within these positions. This assessment will help institutional investors to have a common language when evaluating risks.