21h ago
I annualised previous quarters' available data from Defillama and from the looks of it Raydium & Meteora PE multiples are similar, whilst Orca is substantially undervalued. In terms of value accrual mechanism to stakers, Orca has been distributing triple digit APR to existing stakers via buybacks from protocol fees. Disclaimer: I hold none of these tokens.
Alright bros. Look...what are we doing here? Meteora's token trading ~600m FDV? With 10 figs in annualized fee generation? Seriously? So here's some coins trading above MET... -BDX. Right. Yeah. You've literally never heard of this. Apparently some privacy coin that ICO'd in 2018? -Floki...a literal meme coin...that isn't even DOGE. almost triple circulating Mcap. 0 revenue. 0 business. nothing. -XDC...ah yeah "XDC Network" yeah that random billion dollar coin from 2019 that has....2 second block time and "highly scalable, secure, permissioned, commercial-grade blockchain network." ah yes, tech-slop. Cool. Market is wrong. DeFi token w/ tech that actually works and >$1bn in yearly fee generation shouldn't trade at this much of a discount.
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