2021 · Q2
The first scorecard
Six analysts publish a manual weekly PDF ranking of 40 exchanges. It becomes required reading on the street within a month.
// Who we are
A small research desk keeping crypto venues honest.
EHR.CO is an independent analyst group. We publish health ratings for digital-asset exchanges, document every model we ship, and hand the underlying numbers back to the public through an open API. No pay-to-play rankings. No sponsored grades.
How we got here
2022 · Q4
From spreadsheets to API
The v1 rating engine goes live. Data collectors monitor 320 venues with order-book snapshots every 60 seconds.
2024 · Q2
Open methodology
We publish the full weighting spec, let researchers reproduce our grades from raw inputs, and open the first free API tier.
2026 · Q1
Liquidity Index 2.0
A redesigned nine-factor model launches with depth-weighted scoring and real-time risk radar across 870 venues.
What we optimise for
These are the non-negotiables we re-read every Monday morning. They are posted on the office wall and on our internal pull-request checklist.
01
Reproducibility over speed
Every score is a function of published inputs. A junior analyst should be able to regenerate last quarter’s grade from raw data in under an hour.
02
Paid research, free numbers
Qualitative briefings fund the desk — the quantitative ratings themselves stay free for the public, forever. No exchange pays for a higher grade.
03
Human review of every change
Model updates ship through a two-analyst review and a diff is published publicly. If a venue’s grade moves more than one letter, we explain why.
04
Quiet by default
No affiliate links, no crypto-influencer pipeline, no newsletter bait. Just the numbers, the methodology, and an open comment form if you disagree.
Working with banks, treasuries and regulators
If your team needs bespoke due-diligence, custom data exports, or private briefings on a specific venue, our research desk runs a short commercial track. Grades, however, stay public and free.