Time to check the decentralization stage of another DeFi protocol!
Today, it will be @ajna V2, the first protocol on DeFiScan that reaches Stage 1 & the first ever  community-initiated review!🧵

Fully immutable, oracle free, zero governance borrow lend protocol

DeFiScan assesses and monitors the maturity and risks of DeFi protocols fostering Transparency and Security.
Built with ❤️ by @deficollective

@ajna is a money market that functions without governance or external price feeds.
It operates through isolated pools where lenders provide liquidity at market-driven price levels, and borrowers secure loans using fungible or non-fungible collateral.

UPGRADABILITY: can an update rekt me or change the protocol?

Ajna V2 has a low-risk score as it is fully permissionless, allowing anyone to create, lend, or borrow in pools
The protocol is fully immutable without the ability to upgrade or make changes to the protocol, its functions, or its parameters

AUTONOMY: Could the protocol be impacted by the failure of tool or service it relies on?

Ajna V2 has a low-risk score as it eliminates external dependencies by using a market-driven system where lenders specify lending prices and borrowers provide collateral, removing the need for external price feeds like oracles.

EXIT WINDOW: Can I get out of here before an update I disapprove of?

Ajna V2 has a low-risk score. @ajna's contracts are fully immutable, no upgrades or changes can be made, removing the need for an exit window.

ACCESSIBILITY: Are there several ways to access the protocols, enabling users to keep interacting even if one fails?

Ajna V2 has a medium-risk score. Two user interfaces exist and are operated by independent actors. However, these user interfaces are not interoperable meaning that positions created on one cannot be managed or closed through the second frontend.

@ajna community has expressed plans to make available an emergency UI or instructions for emergency withdrawals, so there is potential for Ajna to reach Stage 2 very soon, along with @liquityprotocol and @pooltogether!

Full protocol review has been submitted by 
@brianmcmichael -the first-ever DeFiScan Community Review-  and can be consulted here:

Full protocol review has been submitted by 
@brianmcmichael -the first-ever DeFiScan Community Review-  and can be consulted here: https://www.defiscan.info/protocols/ajna

CHAIN: is the protocol built on solid grounds?

Ajna V2 is deployed on Ethereum mainnet, giving this instance a Low-risk score.
Ethereum is currently the most secure network, with much fewer attack vectors than on other networks like Layer 2s