5.3
/ 10
Best DeFi Strategy & Protocol Economics Advisors · Review
Three Sigma
Lisbon-based blockchain security firm that runs smart contract audits alongside an economic audit practice covering tokenomics, mechanism design and agent-based stress testing.
Best For
DeFi protocols that want a code audit and an economic or parameter review from the same vendor
Headline Cost
Not published
Founded
2022
Rank in category
10 of 15
Last Checked
22 September 2026
Score breakdown
Category rubric →Published research and models · 25%
7.0
Client-confirmed work · 20%
6.7
Recent economics work · 20%
3.0
Conflict-of-interest disclosure · 15%
0.0
Named team · 10%
6.0
Transparent terms · 10%
10.0
A criterion with nothing published scores 0, so a low score often means missing evidence rather than poor work. The headline 5.3 is the weighted mean of these marks — see our methodology. Not financial advice.
The evidence behind each mark
Scoring rules →| Criterion | Mark | What we found | Source | Checked |
|---|---|---|---|---|
| Published research and models · 25% | 7.0 | Publishes economic reports (Yeti Finance 2022, Panoptic Simulations 2024) on GitHub and long-form blog research, but no open simulation code or models. | github.com ↗ | 22 September 2026 |
| Client-confirmed work · 20% | 6.7 | Three economic case studies are named (Yeti Finance, Avantis, Panoptic); Yeti Finance docs and Panoptic's blog confirm the work, Avantis confirmation was not found. | panoptic.xyz ↗ | 22 September 2026 |
| Recent economics work · 20% | 3.0 | Its most recent dated economic audit is the Panoptic case study, dated 14 May 2024. | threesigma.xyz ↗ | 22 September 2026 |
| Conflict-of-interest disclosure · 15% | 0.0 | No conflict-of-interest policy or token-compensation disclosure found on the about, economic audit or services pages. | threesigma.xyz ↗ | 22 September 2026 |
| Named team · 10% | 6.0 | About page names six people with titles, including CEO Hugo Nicolau and Economic Security Lead Pablo Bartol, but their profiles were not independently verified. | threesigma.xyz ↗ | 22 September 2026 |
| Transparent terms · 10% | 10.0 | Economic audit formats and a four-step process are described, and the site states most audits take 1-3 weeks; no prices are published. | threesigma.xyz ↗ | 22 September 2026 |
What we liked
- Economic reports (Yeti Finance, Panoptic simulations) are published as PDFs on GitHub
- Uses agent-based simulation; two of three economic clients confirm the work on their own channels
- Publishes an indicative 1-3 week audit timeline and a four-step engagement process
Where it falls short
- Simulation framework (Neferpitou) and model code are not public
- Only three named economic case studies, the latest from May 2024
- No conflict-of-interest or token-compensation disclosure found
| # | Service | Best for | Cost | Score |
|---|---|---|---|---|
| 1 | Gauntlet | Lending and DEX protocols needing parameter and incentive optimization | Not published as a price list; the Compound contract was $2.3M per year in DAO proposals | 8.6 |
| 2 | LlamaRisk | Large lending protocols and stablecoin issuers that need a risk framework, parameter design and oracle-based risk automation | Not published as a price list; Aave renewal priced at $3.5M for one year (GHO plus 5,000 AAVE) | 7.6 |
| 3 | Tokenomics.net | Early-stage founders who want a fixed-price, fully documented token model before a raise | Data Room tiers $15,000, $20,000 and $25,000 | 7.1 |
| 4 | CryptoEconLab | Infrastructure, DePIN and AI protocols that need quantitative mechanism design and simulation | Design from $50,000 to $150,000+ | 6.9 |
| 5 | FinDaS | Early-stage teams that want a fixed-price token design or audit with an optional simulation model | Design $24,000 cash, or cash plus 0.5–1% of supply | 6.3 |
| 6 | BlockScience | Protocols that want simulation-based, research-grade mechanism and governance analysis | Not published | 6.0 |
| 7 | 8Blocks | Pre-TGE teams and Web2 or RWA businesses that want a token model or audit tied to business revenue | Workshop $2,500; Clutch lists $5,000+ minimum and $200-300/hr | 5.7 |
| 8 | Simplicity Group | Early-stage projects with modest budgets that want token design and GTM support from one vendor | Tokenomics from $5,000 | 5.6 |
| 9 | Chainrisk | Lending and perpetuals protocols that need a simulation-based economic audit of collateral, liquidation and interest rate parameters | Not published on the website; Compound forum proposals quoted a 90,000 USDC three-month pilot and a 500,000 USD annual retainer | 5.4 |
| 10 | Three Sigma | DeFi protocols that want a code audit and an economic or parameter review from the same vendor | Not published | 5.3 |
| 11 | Nethermind | Protocols wanting tokenomics analysis from a large engineering and security firm | Not published | 5.2 |
| 12 | Block Analitica | Lending and stablecoin protocols that need ongoing collateral risk parameters and monitoring rather than a one-off token design | Not published | 5.2 |
| 13 | Forgd | VC-backed projects preparing a TGE that want tokenomics, market maker and listing work from one provider | Cash and tokens; no cash price published | 4.0 |
| 14 | Delphi Consulting | Larger projects that want token advisory backed by a large research desk and are comfortable with a group that also invests | Not published | 3.8 |
| 15 | Blockphrase | Projects in India or the UAE that want token design combined with development and compliance work from one vendor | Not published | 2.4 |