{
  "license": "CC-BY-4.0",
  "licenseUrl": "https://creativecommons.org/licenses/by/4.0/",
  "attribution": "ChainChoice (https://chainchoice.io)",
  "url": "https://chainchoice.io/data/methodology/2026.09.10.json",
  "version": "2026.09.10",
  "status": "archived",
  "publishedAt": "2026-09-13",
  "title": "dex, perp_dex and dex_aggregator re-read from primary sources: two closed venues, one replaced product, 69 corrected facts",
  "supersededBy": "2026.09.11",
  "previous": "2026.09.9",
  "changelog": {
    "url": "https://chainchoice.io/methodology/changelog/archive#v-2026.09.10",
    "entry": {
      "version": "2026.09.10",
      "publishedAt": "2026-09-13",
      "title": "dex, perp_dex and dex_aggregator re-read from primary sources: two closed venues, one replaced product, 69 corrected facts",
      "summary": "The structural facts of all 36 rows in these three categories were last read on 23–27 July. On 2026-09-13 each scored fact was re-read from the protocol’s own docs, terms, audit pages, on-chain calls or DefiLlama’s API, and an adversarial model run re-fetched every source and rejected quotes that were not verbatim or did not support the value. Drift’s program has been paused since 1 April 2026 and Odos shut down trading on 27 July 2026; both still ranked. The Synthetix Perps record described the retired debt-pool product rather than the Ethereum-mainnet order book live today. 69 values changed, and every row is now dated to the day it was read.",
      "rationale": "Only verified values were applied. Where a source supports two bands the lower claim was kept. Three fields no primary source could confirm keep their lower-claim value and are recorded as unverified with the reason (PancakeSwap exploit history, Maverick upgradeability, Aster launch year); Bebop’s MEV protection is set to false because no Bebop source states it. The quotes, sources and the verifying model run’s notes are committed in research-pending/rereads/2026-09-13-dex-perp_dex-dex_aggregator.json.",
      "affectedCategories": [
        "dex",
        "perp_dex",
        "dex_aggregator"
      ],
      "changes": [
        {
          "type": "fixed",
          "description": "Drift: sunsetAt 2026-04-01 (Velocity docs: “The Drift program is paused”). Odos: sunsetAt 2026-07-27 (odos.xyz: “Odos trading and API services have shut down”). Vertex: sunsetAt corrected to 2025-07-16, the day trading ceased."
        },
        {
          "type": "fixed",
          "description": "Synthetix Perps: perpModel offchain-orderbook, launchYear 2026, auditDepth limited, custody contract-custodied, matching offchain-matched, admin-controlled. It falls from #2 to the floor."
        },
        {
          "type": "fixed",
          "description": "dex_aggregator: Matcha immutable-core (0x Settler contracts are immutable); CowSwap partial open source and a permissioned solver set; 1inch, ParaSwap and UniswapX solvers permissioned; Jupiter closed-source routing; OpenOcean and DODO MEV protection stated in their apps; ParaSwap launched 2019. The published #1 changes from CowSwap to Matcha."
        },
        {
          "type": "fixed",
          "description": "perp_dex: GMX extensive audits, contract-custodied, hybrid matching; Hyperliquid limited audits; Jupiter Perps audited and admin-controlled; Paradex audited, bridged, offchain-matched; Lighter and Aster corrected; market counts and leverage updated from each venue."
        },
        {
          "type": "fixed",
          "description": "dex: Curve exploit severity moderate; Raydium constant-product and admin-controlled; chain counts for Uniswap (45), Curve (27), PancakeSwap (11), Balancer (12), Orca (1); governance text for PancakeSwap and Balancer."
        },
        {
          "type": "changed",
          "description": "Published orders move in dex (Curve 54 → 49), perp_dex (Synthetix Perps, Drift to the floor; Hyperliquid 70 → 62, GMX 65 → 60, Jupiter Perps 67 → 60) and dex_aggregator (Matcha #1). Golden fixtures re-emitted."
        },
        {
          "type": "changed",
          "description": "Corrected 2026-10-14: rows this version moved that the lines above do not name, rank and score before and after. dex: Orca #4 → #3 at 54; Trader Joe (LFJ) #5 → #4 at 54; Velodrome #6 → #5 at 51. dex_aggregator: CoW Swap #1 84 → #3 78; 1inch #2 81 → #2 80; DODO #5 71 → #4 75; UniswapX #4 76 → #5 75; Jupiter #6 68 → #6 67; KyberSwap #7 68 → #7 67; OpenOcean #10 66 → #8 67; Bebop #9 66 → #9 65; LI.FI (Jumper) #12 58 → #10 60; ParaSwap #11 63 → #11 60; Odos #8 68 → #12 41. perp_dex: Helix (Injective) #3 → #2 at 75; dYdX #6 → #3 at 65; Lighter #9 → #7 at 54; Paradex #10 52 → #8 47; Aster #11 49 → #9 41; Synthetix Perps #2 78 → #10 41; Drift Protocol #8 54 → #11 41."
        }
      ],
      "approvedBy": "mathias-siemonsmeier"
    }
  },
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      "at": "2026-09-14T01:27:17+02:00",
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    },
    "formula": {
      "step1_weightedTotal": "weightedTotal = (SUM over dimensions of (breakdown[d] / baseWeight[d]) * weight[d]) / (SUM of weight[d]) * 86",
      "step2_absoluteScore": "absolute = weightedTotal <= 20 ? round(40 + weightedTotal) : round(60 + (weightedTotal / 86) * 38), clamped to [40, 99]",
      "step3_poolRelative": "score = round(min(min(99, max(41, leaderScore - (leaderWeighted - weightedTotal) * 2.6)), scoreOfRowAbove))",
      "note": "boundBy names which limit decided the number when one did: floor, ceiling, row-above, or none. Rows marked floor sit at 41 and the multiplication alone gives a lower figure.",
      "baseWeights": {
        "availability": 20,
        "objectiveFit": 30,
        "frictionFit": 10,
        "trustBonus": 8,
        "quantitative": 18
      },
      "unweightedDimensions": [
        "profileFit"
      ],
      "unweightedNote": "These dimensions are computed and published in every breakdown but carry no weight in the total. profileFit left the composite in methodology 2026.09.2: it was constant inside all 114 categories, so its 20 points moved every product in a pool identically and ordered nothing. Sum the breakdown against baseWeights and the unweighted terms are simply absent from the arithmetic — that is the intended reading, not an omission.",
      "weightVersusInfluence": "A base weight is how much a dimension COULD move a score, not how much it did. Each category publishes dimensionSpread: the range that dimension actually covered across its pool. A spread of 0 means the dimension was constant there and decided nothing, however large its weight.",
      "objectiveBasis": "Each product names where its objectiveFit points came from. \"criteria\": the block is the weighted sum of the published criterion cells, round(min(30, 0.75 × Σ weight × cell/10 × 32)), and a pairwise ledger can itemise it per criterion. \"whole\": the category scores the block from structural facts or capability flags rather than per-criterion cells, so it enters a ledger as one term. \"sunset\": the product no longer operates (sunsetAt gives the date) and the block is zeroed regardless of its cells.",
      "totalBaseWeight": 86,
      "spreadPerWeightedPoint": 2.6,
      "scoreFloor": 41,
      "scoreCeiling": 99,
      "leaderRobustnessNote": "leaderSurvivesOnePointChange: whether this category keeps its #1 when any single criterion score moves by one point on the 0-10 scale — the smallest difference two competent raters can hold. False in 39 of 118 categories. A false does not mean the ranking is wrong; it means the evidence separates the top two by less than the width of a judgement call, and the file says so rather than letting the displayed gap imply otherwise. null means the sweep could not run — too few criteria or too small a pool — and is deliberately not reported as robust."
    },
    "recipe": "sha256 is the SHA-256 of the category spec (the file's \"spec\" field) written as compact JSON: every object's keys sorted, no spaces or line breaks, non-ASCII characters as UTF-8 (not escaped), no trailing newline. That is the serialisation of the rankings digest."
  },
  "rankings": {
    "ledger": "https://chainchoice.io/data/rankings-ledger.jsonl",
    "produced": [
      {
        "seq": 2303,
        "rankingsDigest": "78031e54249d1bb0aa74c863e022a0f3af368d32010257561369fac91e661ca4",
        "ob": "2026-09-13",
        "src": "git:488d2c13ef7ae4a950aa291670067a81e79df1a9",
        "engine": "2026.09.10"
      }
    ],
    "whenIntroduced": "4cc01c5a73737e6327397cf9b9151e042678ecb3aff5eada6e08412b823db518",
    "whenSuperseded": "78031e54249d1bb0aa74c863e022a0f3af368d32010257561369fac91e661ca4",
    "newest": null,
    "note": "produced lists the ledger's digest entries whose rankings.json was generated while this version was the newest changelog entry (seq is the entry's place in the ledger). whenIntroduced and whenSuperseded are the digests of the rankings.json committed with the first and the last commit of this version."
  },
  "gaps": [],
  "notes": []
}