LISR Methodology
The Linkmerica Institutional Security Rating (LISR) is a deterministic, versioned custody risk framework. This page explains how scores are produced, what they measure, and why the framework is designed the way it is.
Core Principles
The same evidence always produces the same score. No analyst discretion in the scoring math. Two assessments of identical facts yield identical results.
Every score carries a version number and date. Methodology revisions increment the LISR version. The changelog is public and permanent.
Published scores cannot be retroactively altered. Score files are locked. Revisions are published as new dated versions — the historical record is preserved.
No payment accepted from rated manufacturers or protocol operators. Referral links, where present, are disclosed and never affect scores.
The Six Risk Categories
LISR v1.0 assesses hardware wallets across six structural risk categories. Category names are public. Category weights, sub-factor definitions, and internal scoring math are proprietary — this protects the framework from gaming by rated parties while keeping the assessment structure transparent.
| Category | What It Assesses |
|---|---|
| Security Architecture | Cryptographic design, secure element implementation, physical attack resistance |
| Firmware Integrity | Firmware signing, update verification, reproducible builds, vulnerability disclosure practices |
| Supply Chain Risk | Manufacturing provenance, anti-tamper mechanisms, distribution chain controls |
| Key Management | Seed generation, entropy quality, standards implementation, multisig compatibility |
| Operational Security | PIN and lockout controls, duress mechanisms, air-gap quality, display verification |
| Recovery Risk | Seed backup mechanisms, recovery standardization, vendor lock-in exposure |
Score Scale and Risk Tiers
Scores range 0.0–10.0. Lower score = lower custody risk.
| Tier | Range | Institutional Interpretation |
|---|---|---|
| LOW | 0.0 – 3.5 | Suitable for institutional custody with standard controls |
| MODERATE | 3.6 – 6.0 | Requires additional controls or policy mitigations |
| HIGH | 6.1 – 8.0 | Significant custody risk — limited institutional suitability |
| CRITICAL | 8.1 – 10.0 | Not recommended for institutional custody |
Evidence Standards
All assessments are based exclusively on publicly available information: manufacturer documentation, firmware repositories, security disclosures, certification records, and published research. Where public information is unavailable, the assessment states this explicitly rather than assuming. Linkmerica never requests private keys, seed phrases, or device access.
Scores are supplemented by Linkmerica's continuous monitoring record — a dated, versioned intelligence archive covering 22 agentic protocol targets and wallet manufacturer developments, updated weekly since June 2026.
Framework Extensions
Quantum Resistance Readiness (QRR) — published June 2026. Assesses wallet manufacturer posture against the 2029–2035 Q-Day risk window and the federal PQC compliance timeline established by EO 14412 (December 2030–2031 deadlines). QRR scores appear on each wallet page alongside the LISR v1.0 score.
Agentic Custody Readiness (ACR) — framework established June 2026. Rates agentic payment protocols and agent wallet infrastructure. First protocol scores publishing 2026. As the framework matures, additional dimensions will be versioned and disclosed here.