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Alterscope publishes a risk grade for tokenized real-world assets (tokenized Treasuries, money-market funds, stablecoins, and other RWAs). The grade is an AAA–D letter plus a 0–100 score, decomposed into nine factors. It is a risk grade, not a credit rating. A defining property: insufficient data is disclosed, never guessed. When a factor lacks signal it is marked not_scored with a reason, the grade renormalizes over the factors that did score, and an instrument with zero scored factors carries the grade NR (“not rated”). Every response tells you how many of the nine factors actually carried signal.

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Endpoints

The risk-grade surface is three authenticated GET routes (see the API reference for full schemas):
EndpointReturns
GET /v1/rwa/ratingsSortable, paged list of graded instruments.
GET /v1/rwa/ratings/{instrument_id}One grade + its nine-factor breakdown (scored_factors / total_factors, per-factor not_scored + na_reason).
GET /v1/rwa/ratings/{instrument_id}/historyBi-temporal grade time-series (default 30 days) with per-factor deltas.
All three require a bearer token and are rate-limited by tier, the same as the rest of the API.
API-key access to /v1/rwa/* requires the Enterprise plan (or Custom). Keys on a lower tier receive 403 Forbidden with error code ENTERPRISE_PLAN_REQUIRED and an upgrade link. Browsing ratings while signed in to the Alterscope app is not plan-gated. The full methodology is published at RWA Credit Ratings.

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Fetch a grade

curl -s https://api.alterscope.org/v1/rwa/ratings/ondo-USDY \
  -H "Authorization: Bearer $ALTERSCOPE_API_KEY"
A trimmed response: 
{
  "instrument_id": "ondo-USDY",
  "issuer_id": "ondo",
  "grade": "BBB+",
  "score_0_100": 72,
  "investment_grade": true,
  "scored_factors": 7,
  "total_factors": 9,
  "factors": [
    { "factor_name": "reserve_quality", "score_0_100": 80, "weight": 0.2, "contribution": 16 },
    { "factor_name": "liquidity_depth", "not_scored": true, "na_reason": "no holder HHI observed for this instrument" }
  ]
}
Never average a not_scored factor in as a 0 — it has no score. The grade is computed over the scored set only; the scored_factors / total_factors pair is there so you can disclose data completeness alongside the grade.

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Consume it from an AI agent (MCP)

The Alterscope MCP server exposes the same risk grade as two agent tools, so an allocator’s agent can read and explain a grade inline without leaving the conversation:
  • get_rwa_rating — the headline grade, score, scored/total factor counts, 30-day grade history, and provenance. Accepts a rating instrument id (ondo-USDY) or a manifest asset id (ondo-usdy).
  • explain_rwa_rating — the full nine-factor breakdown, the top contributing factors as plain-language drivers, and a data_status summary (scored / total / not-rated counts).
See cookbook recipe “Check a tokenized asset’s risk grade before allocating” for the end-to-end agent flow.

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Methodology

Factor definitions, weights, and peer-group banding are documented in the risk methodology.