Risk Analysis Database (RAD)
The RAD process
Our proprietary Risk Analysis Database (RAD) simplifies risk assessment by pooling together data from exploits within DeFi. It collects data on exploit parameters with the intent to analyze patterns and create a greater understanding of risk. These parameters include:
  • Date of exploit
  • Hack type
  • Cost of digital assets lost in exploit
  • Hacker public key(s)
  • Market cap
The list of parameters will continually grow, evolving RAD's understanding of risk. Using this data, RAD will create transparent and accurate risk ratings by running the data through machine-learning algorithms off-chain. The risk ratings will be available through RAD's Chainlink Oracle, allowing use by both Steady State and any other protocol that wishes to access them.
Initially operated by Steady State, the RAD will be open-sourced to increase efficiency and usage. It will perform as a "data DAO" where contributors submit data sets in exchange for rewards. The first of its kind, RAD will have an elaborate tracking system, aggregating data on the protocols and using machine learning to continuously improve risk analysis metrics and risk ratings within the DeFi ecosystem.
Supported by various data analytic tools such as Chainlink nodes, MongoDB and Django, RAD aggregates the data collected from DeFi hacks and protocol shortcomings to understand when and how exploits have occurred. This data is essential in creating risk ratings to enhance and replace traditional insurance risk management methods.
Last modified 2mo ago
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