> For the complete documentation index, see [llms.txt](https://steakhouse.financial/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://steakhouse.financial/docs/risk-management/zh/collateral/layers-pillars-and-criteria.md).

# 层级、支柱与标准

Steakhouse Financial 的抵押品风险模型分为三层，每层包含多个支柱和单独的评分标准。每项标准、每个支柱和每一层都按从 AA（最高质量，Prime）到 C（从所有公开分发的金库中排除）的等级进行评定。

每一层由若干支柱组成，每个支柱又包含多个标准。

与某一层相关联的评级反映的是其各支柱中的最低评级，因为每个支柱都是独立评估的，而最薄弱的一环决定了该层的整体强度。

<figure><picture><source srcset="/files/465853798b88ba0fc2a23605e5847e4f9c92c444" media="(prefers-color-scheme: dark)"><img src="/files/eea1f2d17b167dd2f30254d224cfae4b7e311338" alt="Application of the MLRR in practice"></picture><figcaption><p>MLRR 在实践中的应用</p></figcaption></figure>

## 风险分类与分层结构

| 层      | 支柱    | 标准      |
| ------ | ----- | ------- |
| **资产** | 发行方风险 | *社会*    |
|        |       | *去中心化*  |
|        |       | *技术*    |
|        | 信用风险  | *定性评估*  |
|        | 运营风险  | *林迪*    |
|        |       | *审计覆盖*  |
|        |       | *经济透明度* |
| **平台** | 发行方风险 | *社会*    |
|        |       | *去中心化*  |
|        |       | *技术*    |
|        | 运营风险  | *林迪*    |
|        |       | *审计*    |
|        |       | *经济透明度* |
| **市场** | 预言机   |         |
|        | 流动性   |         |
|        | 信用增级  | *价格波动*  |
|        |       | *LLTV*  |

## 评级等级

每个标准、支柱和层都按从 **AA** （最高质量）到 **C** （风险最高的实践）的等级进行评分。

适用以下评级等级：

| 评级     | 数字得分 | 类型                                      |
| ------ | ---- | --------------------------------------- |
| **AA** | 1    | <mark style="color:$success;">首要</mark> |
| **A**  | 2    | <mark style="color:$success;">首要</mark> |
| **BB** | 3    | <mark style="color:橙色;">高收益</mark>      |
| **B**  | 4    | <mark style="color:橙色;">高收益</mark>      |
| **CC** | 5    | <mark style="color:$danger;">受限</mark>  |
| **C**  | 6    | <mark style="color:$info;">排除</mark>    |

数值评分用于跨标准、支柱和层的汇总计算。

* **AA** 和 **A** 类资产或市场被视为 Prime，并在 Steakhouse 产品的较低风险区间内提供。
* **BB** 和 **B** 类资产被视为高收益，并在 Steakhouse 产品的较高风险区间内提供。
* **CC** 类资产代表更高层级的风险。对这类资产的敞口仅在机会性情况下、受限额度内取得，并在严格风险监控下与特定目标保持一致。
* **C 类资产** 具有最高风险评级，并被排除在所有公开分发的金库之外。


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://steakhouse.financial/docs/risk-management/zh/collateral/layers-pillars-and-criteria.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.