{ "api_version": "1.0.0", "dataset": "protocol-fundamentals", "as_of": "2026-08-28T11:19:58Z", "generated_at": "2026-08-28T11:19:58Z", "methodology_version": "2026-08-14", "canonical_url": "https://cryptovaluelab.com/api/v1/protocol-fundamentals.json", "license": "Copyright Crypto Value Lab. Public read-only access with attribution.", "disclaimer": "Research data only. Not investment advice, a trading signal, or a recommendation. Null means unavailable or not applicable, never zero.", "null_semantics": "A null value means unavailable or not applicable; it must not be interpreted as zero.", "data": { "report": "Crypto Valuation Radar", "generatedAtUtc": "2026-08-28T11:19:58Z", "generatedAtLisbon": "28 Aug 2026, 12:19 Lisbon", "enabledSymbolCount": 21, "qualityCounts": { "OK": 20, "PARTIAL": 1, "STALE": 0, "MISSING": 0 }, "revenueMultipleQualityCounts": { "OK": 20, "PARTIAL": 1, "MANUAL_OVERRIDE": 0, "STALE": 0, "MISSING": 0 }, "scenarioOptions": [ { "label": "Down 75%", "short_label": "-75%", "multiplier": 0.25 }, { "label": "Down 50%", "short_label": "-50%", "multiplier": 0.5 }, { "label": "Down 25%", "short_label": "-25%", "multiplier": 0.75 }, { "label": "Flat", "short_label": "Flat", "multiplier": 1 }, { "label": "Up 50%", "short_label": "+50%", "multiplier": 1.5 }, { "label": "Up 100%", "short_label": "+100%", "multiplier": 2 }, { "label": "Up 200%", "short_label": "+200%", "multiplier": 3 }, { "label": "Up 300%", "short_label": "+300%", "multiplier": 4 } ], "scenarioDefaultMultiplier": 1, "valuationSummary": { "cheapest_last6m": [ { "rank": 1, "name": "Collector Crypt", "ticker": "CARDS", "symbol": "CARDS", "crypto_sector": "Consumer", "revenue_12m_usd": 82170367, "circulating_mcap_usd": 163172341.62950966, "revenue_multiple": 1.9857808549097713, "notes_caveats": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "data_caveat": "TVL not published by DeFiLlama for Collector Crypt.", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 15, "trend_label": "Acceleration", "trend_ratio_runrate_to_last6m": 1.4101677502843406, "scenario_multiple": 1.1023177621322908, "scenario_revenue_12m_usd": 148026592, "scenario_default_multiplier": 1, "multiple_runrate_12m": 1.1023177621322908, "multiple_last6m_annualized": 1.5544529587245615, "revenue_runrate_12m_usd": 148026592, "revenue_3m_avg_monthly_usd": 12335549.333333334, "revenue_last6m_calendar_usd": 52485455, "revenue_last6m_annualized_usd": 104970910, "revenue_1d_usd": 517746, "revenue_7d_usd": 1923656, "revenue_30d_usd": 11272338, "tvl_7d_pct": null, "tvl_30d_pct": null, "revenue_7d_pct": 94.52142288213282, "revenue_30d_pct": -24.453147457214104, "price_7d_pct": -12.494973715659006, "revenue_surprise_z": null, "data_quality": "COMPLETE", "market_cap_source": null, "source_errors": "", "native_source_status": "active", "primary_source": "defillama", "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 2, "name": "pump.fun", "ticker": "PUMP", "symbol": "PUMP", "crypto_sector": "Launchpad", "revenue_12m_usd": 464689364, "circulating_mcap_usd": 1909520905.3532066, "revenue_multiple": 4.109241685491228, "notes_caveats": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 30, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9494696015538393, "scenario_multiple": 5.039743638697, "scenario_revenue_12m_usd": 378892468, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.039743638697, "multiple_last6m_annualized": 4.7850833845671366, "revenue_runrate_12m_usd": 378892468, "revenue_3m_avg_monthly_usd": 31574372.333333332, "revenue_last6m_calendar_usd": 199528488, "revenue_last6m_annualized_usd": 399056976, "revenue_1d_usd": 3272464, "revenue_7d_usd": 16381754, "revenue_30d_usd": 53146689, "tvl_7d_pct": 21.43432254303265, "tvl_30d_pct": 53.74503508016777, "revenue_7d_pct": 54.18485141316859, "revenue_30d_pct": 125.67581080400781, "price_7d_pct": 16.47950180617287, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 3, "name": "Meteora", "ticker": "MET", "symbol": "MET", "crypto_sector": "Dexs", "revenue_12m_usd": 48932908, "circulating_mcap_usd": 116200188.08615352, "revenue_multiple": 2.374683885252712, "notes_caveats": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 17, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.0815828984823976, "scenario_multiple": 5.338425690987499, "scenario_revenue_12m_usd": 21766752, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.338425690987499, "multiple_last6m_annualized": 5.773949932191156, "revenue_runrate_12m_usd": 21766752, "revenue_3m_avg_monthly_usd": 1813896, "revenue_last6m_calendar_usd": 10062452, "revenue_last6m_annualized_usd": 20124904, "revenue_1d_usd": 98375, "revenue_7d_usd": 663261, "revenue_30d_usd": 1875993, "tvl_7d_pct": 13.285457845047919, "tvl_30d_pct": 23.76459863772097, "revenue_7d_pct": 22.639157264850716, "revenue_30d_pct": 105.8571189419938, "price_7d_pct": -0.034891725096152904, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null } ], "cheapest_runrate": [ { "rank": 1, "name": "Collector Crypt", "ticker": "CARDS", "symbol": "CARDS", "crypto_sector": "Consumer", "revenue_12m_usd": 82170367, "circulating_mcap_usd": 163172341.62950966, "revenue_multiple": 1.9857808549097713, "notes_caveats": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "data_caveat": "TVL not published by DeFiLlama for Collector Crypt.", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 15, "trend_label": "Acceleration", "trend_ratio_runrate_to_last6m": 1.4101677502843406, "scenario_multiple": 1.1023177621322908, "scenario_revenue_12m_usd": 148026592, "scenario_default_multiplier": 1, "multiple_runrate_12m": 1.1023177621322908, "multiple_last6m_annualized": 1.5544529587245615, "revenue_runrate_12m_usd": 148026592, "revenue_3m_avg_monthly_usd": 12335549.333333334, "revenue_last6m_calendar_usd": 52485455, "revenue_last6m_annualized_usd": 104970910, "revenue_1d_usd": 517746, "revenue_7d_usd": 1923656, "revenue_30d_usd": 11272338, "tvl_7d_pct": null, "tvl_30d_pct": null, "revenue_7d_pct": 94.52142288213282, "revenue_30d_pct": -24.453147457214104, "price_7d_pct": -12.494973715659006, "revenue_surprise_z": null, "data_quality": "COMPLETE", "market_cap_source": null, "source_errors": "", "native_source_status": "active", "primary_source": "defillama", "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 2, "name": "pump.fun", "ticker": "PUMP", "symbol": "PUMP", "crypto_sector": "Launchpad", "revenue_12m_usd": 464689364, "circulating_mcap_usd": 1909520905.3532066, "revenue_multiple": 4.109241685491228, "notes_caveats": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 30, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9494696015538393, "scenario_multiple": 5.039743638697, "scenario_revenue_12m_usd": 378892468, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.039743638697, "multiple_last6m_annualized": 4.7850833845671366, "revenue_runrate_12m_usd": 378892468, "revenue_3m_avg_monthly_usd": 31574372.333333332, "revenue_last6m_calendar_usd": 199528488, "revenue_last6m_annualized_usd": 399056976, "revenue_1d_usd": 3272464, "revenue_7d_usd": 16381754, "revenue_30d_usd": 53146689, "tvl_7d_pct": 21.43432254303265, "tvl_30d_pct": 53.74503508016777, "revenue_7d_pct": 54.18485141316859, "revenue_30d_pct": 125.67581080400781, "price_7d_pct": 16.47950180617287, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 3, "name": "Meteora", "ticker": "MET", "symbol": "MET", "crypto_sector": "Dexs", "revenue_12m_usd": 48932908, "circulating_mcap_usd": 116200188.08615352, "revenue_multiple": 2.374683885252712, "notes_caveats": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 17, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.0815828984823976, "scenario_multiple": 5.338425690987499, "scenario_revenue_12m_usd": 21766752, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.338425690987499, "multiple_last6m_annualized": 5.773949932191156, "revenue_runrate_12m_usd": 21766752, "revenue_3m_avg_monthly_usd": 1813896, "revenue_last6m_calendar_usd": 10062452, "revenue_last6m_annualized_usd": 20124904, "revenue_1d_usd": 98375, "revenue_7d_usd": 663261, "revenue_30d_usd": 1875993, "tvl_7d_pct": 13.285457845047919, "tvl_30d_pct": 23.76459863772097, "revenue_7d_pct": 22.639157264850716, "revenue_30d_pct": 105.8571189419938, "price_7d_pct": -0.034891725096152904, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null } ], "cheapest_scenario": [ { "rank": 1, "name": "Collector Crypt", "ticker": "CARDS", "symbol": "CARDS", "crypto_sector": "Consumer", "revenue_12m_usd": 82170367, "circulating_mcap_usd": 163172341.62950966, "revenue_multiple": 1.9857808549097713, "notes_caveats": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "data_caveat": "TVL not published by DeFiLlama for Collector Crypt.", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 15, "trend_label": "Acceleration", "trend_ratio_runrate_to_last6m": 1.4101677502843406, "scenario_multiple": 1.1023177621322908, "scenario_revenue_12m_usd": 148026592, "scenario_default_multiplier": 1, "multiple_runrate_12m": 1.1023177621322908, "multiple_last6m_annualized": 1.5544529587245615, "revenue_runrate_12m_usd": 148026592, "revenue_3m_avg_monthly_usd": 12335549.333333334, "revenue_last6m_calendar_usd": 52485455, "revenue_last6m_annualized_usd": 104970910, "revenue_1d_usd": 517746, "revenue_7d_usd": 1923656, "revenue_30d_usd": 11272338, "tvl_7d_pct": null, "tvl_30d_pct": null, "revenue_7d_pct": 94.52142288213282, "revenue_30d_pct": -24.453147457214104, "price_7d_pct": -12.494973715659006, "revenue_surprise_z": null, "data_quality": "COMPLETE", "market_cap_source": null, "source_errors": "", "native_source_status": "active", "primary_source": "defillama", "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 2, "name": "pump.fun", "ticker": "PUMP", "symbol": "PUMP", "crypto_sector": "Launchpad", "revenue_12m_usd": 464689364, "circulating_mcap_usd": 1909520905.3532066, "revenue_multiple": 4.109241685491228, "notes_caveats": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 30, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9494696015538393, "scenario_multiple": 5.039743638697, "scenario_revenue_12m_usd": 378892468, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.039743638697, "multiple_last6m_annualized": 4.7850833845671366, "revenue_runrate_12m_usd": 378892468, "revenue_3m_avg_monthly_usd": 31574372.333333332, "revenue_last6m_calendar_usd": 199528488, "revenue_last6m_annualized_usd": 399056976, "revenue_1d_usd": 3272464, "revenue_7d_usd": 16381754, "revenue_30d_usd": 53146689, "tvl_7d_pct": 21.43432254303265, "tvl_30d_pct": 53.74503508016777, "revenue_7d_pct": 54.18485141316859, "revenue_30d_pct": 125.67581080400781, "price_7d_pct": 16.47950180617287, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 3, "name": "Meteora", "ticker": "MET", "symbol": "MET", "crypto_sector": "Dexs", "revenue_12m_usd": 48932908, "circulating_mcap_usd": 116200188.08615352, "revenue_multiple": 2.374683885252712, "notes_caveats": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 17, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.0815828984823976, "scenario_multiple": 5.338425690987499, "scenario_revenue_12m_usd": 21766752, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.338425690987499, "multiple_last6m_annualized": 5.773949932191156, "revenue_runrate_12m_usd": 21766752, "revenue_3m_avg_monthly_usd": 1813896, "revenue_last6m_calendar_usd": 10062452, "revenue_last6m_annualized_usd": 20124904, "revenue_1d_usd": 98375, "revenue_7d_usd": 663261, "revenue_30d_usd": 1875993, "tvl_7d_pct": 13.285457845047919, "tvl_30d_pct": 23.76459863772097, "revenue_7d_pct": 22.639157264850716, "revenue_30d_pct": 105.8571189419938, "price_7d_pct": -0.034891725096152904, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null } ], "biggest_acceleration": [ { "rank": 4, "name": "Venice", "ticker": "VVV", "symbol": "VVV", "crypto_sector": "AI", "revenue_12m_usd": 109755030.33338222, "circulating_mcap_usd": 823729342.5383848, "revenue_multiple": 7.505162542767262, "notes_caveats": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 12, "trend_label": "VeniceStats modeled ARR", "trend_ratio_runrate_to_last6m": 1, "scenario_multiple": 7.505162542767262, "scenario_revenue_12m_usd": 109755030.33338222, "scenario_default_multiplier": 1, "multiple_runrate_12m": 7.505162542767262, "multiple_last6m_annualized": 7.505162542767262, "revenue_runrate_12m_usd": 109755030.33338222, "revenue_3m_avg_monthly_usd": 9146252.527781852, "revenue_last6m_calendar_usd": 54877515.16669111, "revenue_last6m_annualized_usd": 109755030.33338222, "revenue_1d_usd": 300698.71324214304, "revenue_7d_usd": 2104890.9926950014, "revenue_30d_usd": 9020961.39726429, "tvl_7d_pct": 0, "tvl_30d_pct": 0, "revenue_7d_pct": null, "revenue_30d_pct": null, "price_7d_pct": 10.963066724239926, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "VeniceStats subscription ARR is modeled from new observed programmatic subscription burns, 30d tier mix, 8% monthly churn, and 12-month retained cohort. It is a lower-bound/floor estimate and is not DeFiLlama trailing protocol revenue.", "native_source_status": "active", "primary_source": "venicestats", "source": "venicestats_public_api; mcap:venicestats_public_api; subscription_arr:venicestats_30d_tier_mix_8pct_churn; all_vvv_revenue_windows:venicestats_arr_recognition", "notes": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow.", "venicestats_subscription_arr_usd": 109755030.33338222, "venicestats_subscription_mrr_usd": 9146252.527781852, "venicestats_programmatic_burns_per_day": 1622.4285714285713, "venicestats_weighted_avg_sub_value_usd": 23.430236559139786, "venicestats_active_subs_12m": 390361.0834101474 }, { "rank": 1, "name": "Collector Crypt", "ticker": "CARDS", "symbol": "CARDS", "crypto_sector": "Consumer", "revenue_12m_usd": 82170367, "circulating_mcap_usd": 163172341.62950966, "revenue_multiple": 1.9857808549097713, "notes_caveats": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "data_caveat": "TVL not published by DeFiLlama for Collector Crypt.", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 15, "trend_label": "Acceleration", "trend_ratio_runrate_to_last6m": 1.4101677502843406, "scenario_multiple": 1.1023177621322908, "scenario_revenue_12m_usd": 148026592, "scenario_default_multiplier": 1, "multiple_runrate_12m": 1.1023177621322908, "multiple_last6m_annualized": 1.5544529587245615, "revenue_runrate_12m_usd": 148026592, "revenue_3m_avg_monthly_usd": 12335549.333333334, "revenue_last6m_calendar_usd": 52485455, "revenue_last6m_annualized_usd": 104970910, "revenue_1d_usd": 517746, "revenue_7d_usd": 1923656, "revenue_30d_usd": 11272338, "tvl_7d_pct": null, "tvl_30d_pct": null, "revenue_7d_pct": 94.52142288213282, "revenue_30d_pct": -24.453147457214104, "price_7d_pct": -12.494973715659006, "revenue_surprise_z": null, "data_quality": "COMPLETE", "market_cap_source": null, "source_errors": "", "native_source_status": "active", "primary_source": "defillama", "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 21, "name": "Ethena USDe", "ticker": "ENA", "symbol": "ENA", "crypto_sector": "Basis Trading", "revenue_12m_usd": 5264046.2200000025, "circulating_mcap_usd": 1649632505.740421, "revenue_multiple": 313.37728370865636, "notes_caveats": "Ethena fundamentals mapped to ENA; token value capture remains unclear.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 34, "trend_label": "Acceleration", "trend_ratio_runrate_to_last6m": 1.1583507186400523, "scenario_multiple": 503.9052023376015, "scenario_revenue_12m_usd": 3273696.12, "scenario_default_multiplier": 1, "multiple_runrate_12m": 503.9052023376015, "multiple_last6m_annualized": 583.6989532542217, "revenue_runrate_12m_usd": 3273696.12, "revenue_3m_avg_monthly_usd": 272808.01, "revenue_last6m_calendar_usd": 1413085.03, "revenue_last6m_annualized_usd": 2826170.06, "revenue_1d_usd": 58.53, "revenue_7d_usd": 3426.71, "revenue_30d_usd": 28677.189999999995, "tvl_7d_pct": 2.671445989830725, "tvl_30d_pct": 9.958137244457156, "revenue_7d_pct": -96.62261973456434, "revenue_30d_pct": -97.86542669584244, "price_7d_pct": 18.810304399062048, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Ethena fundamentals mapped to ENA; token value capture remains unclear.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null } ], "biggest_deceleration": [ { "rank": 19, "name": "Curve DEX", "ticker": "CRV", "symbol": "CRV", "crypto_sector": "Dexs", "revenue_12m_usd": 30243536, "circulating_mcap_usd": 498475802.19245815, "revenue_multiple": 16.482060900301413, "notes_caveats": "Curve DEX revenue mapped to CRV; veCRV mechanics imply partial linkage.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 70, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.6985618284530981, "scenario_multiple": 33.853965051535106, "scenario_revenue_12m_usd": 14724296, "scenario_default_multiplier": 1, "multiple_runrate_12m": 33.853965051535106, "multiple_last6m_annualized": 23.649087726787645, "revenue_runrate_12m_usd": 14724296, "revenue_3m_avg_monthly_usd": 1227024.6666666667, "revenue_last6m_calendar_usd": 10539007, "revenue_last6m_annualized_usd": 21078014, "revenue_1d_usd": 8518, "revenue_7d_usd": 131626, "revenue_30d_usd": 509464, "tvl_7d_pct": 3.2491628907133805, "tvl_30d_pct": 3.9612894574941153, "revenue_7d_pct": -72.0895180051771, "revenue_30d_pct": -24.237303210886772, "price_7d_pct": 0.3177913309498103, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Curve DEX revenue mapped to CRV; veCRV mechanics imply partial linkage.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 13, "name": "Raydium AMM", "ticker": "RAY", "symbol": "RAY", "crypto_sector": "Dexs", "revenue_12m_usd": 21873291, "circulating_mcap_usd": 219404036.56154922, "revenue_multiple": 10.030682468474872, "notes_caveats": "Raydium revenue mapped to RAY; fee distribution should be validated separately.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 47, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.7596722068103943, "scenario_multiple": 23.43534426694323, "scenario_revenue_12m_usd": 9362100, "scenario_default_multiplier": 1, "multiple_runrate_12m": 23.43534426694323, "multiple_last6m_annualized": 17.803179696630085, "revenue_runrate_12m_usd": 9362100, "revenue_3m_avg_monthly_usd": 780175, "revenue_last6m_calendar_usd": 6161934, "revenue_last6m_annualized_usd": 12323868, "revenue_1d_usd": 55655, "revenue_7d_usd": 407082, "revenue_30d_usd": 1295997, "tvl_7d_pct": 17.55626757267923, "tvl_30d_pct": 42.077469622458715, "revenue_7d_pct": 6.551413857140122, "revenue_30d_pct": 225.8107949888772, "price_7d_pct": 13.658732535912923, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Raydium revenue mapped to RAY; fee distribution should be validated separately.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 17, "name": "Aave V3", "ticker": "AAVE", "symbol": "AAVE", "crypto_sector": "Lending", "revenue_12m_usd": 106627813, "circulating_mcap_usd": 1950097011.5583074, "revenue_multiple": 18.288821243649696, "notes_caveats": "Aave protocol fundamentals mapped to AAVE governance token; value capture is indirect.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 69, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.7986089392691844, "scenario_multiple": 31.023819946934207, "scenario_revenue_12m_usd": 62858056, "scenario_default_multiplier": 1, "multiple_runrate_12m": 31.023819946934207, "multiple_last6m_annualized": 24.775899939899293, "revenue_runrate_12m_usd": 62858056, "revenue_3m_avg_monthly_usd": 5238171.333333333, "revenue_last6m_calendar_usd": 39354716, "revenue_last6m_annualized_usd": 78709432, "revenue_1d_usd": 151376, "revenue_7d_usd": 1180534, "revenue_30d_usd": 4334011, "tvl_7d_pct": 6.14902336425511, "tvl_30d_pct": 25.295971897686492, "revenue_7d_pct": 2.88658252282011, "revenue_30d_pct": 14.334916954311652, "price_7d_pct": 11.89875578176087, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Aave protocol fundamentals mapped to AAVE governance token; value capture is indirect.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null } ], "sharpest_revenue_move": { "date": "2026-08-28", "tvl_usd": 0, "tvl_usd_source_key": "", "enabled": true, "symbol": "VVV", "venue_symbols": "{\"hyper\": \"VVV\", \"lighter\": \"VVV\"}", "venues": "both", "protocol_slug": "venice", "protocol_name": "Venice", "crypto_sector": "AI", "token_symbol": "VVV", "defillama_coin_id": "coingecko:venice-token", "market_cap_usd": 823729342.5383848, "market_cap_source": "venicestats_public_api", "market_cap_fetched_at_utc": "2026-08-28T11:18:09Z", "revenue_1d_usd": 300698.71324214304, "revenue_7d_usd": 2104890.9926950014, "revenue_30d_usd": 9020961.39726429, "revenue_1y_usd": 109755030.33338222, "revenue_1d_change_pct": 8, "fees_1d_usd": 300698.71324214304, "fees_7d_usd": 2104890.9926950014, "fees_30d_usd": 9020961.39726429, "fees_1y_usd": 109755030.33338222, "fees_1d_change_pct": 8, "value_capture_quality": "unclear", "primary_source": "venicestats", "native_source_status": "active", "notes": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow.", "source": "venicestats_public_api; all_vvv_revenue_windows:venicestats_arr_recognition", "source_data_status": "OK", "source_fetched_at_utc": "2026-08-28T11:18:09Z", "source_errors": "VeniceStats subscription ARR is modeled from new observed programmatic subscription burns, 30d tier mix, 8% monthly churn, and 12-month retained cohort. It is a lower-bound/floor estimate and is not DeFiLlama trailing protocol revenue.", "stale_cache_keys": "", "research_only": true, "fees_usd": 300698.71324214304, "fees_usd_source_key": "venicestats_subscription_arr_estimator", "revenue_usd": 300698.71324214304, "revenue_usd_source_key": "venicestats_subscription_arr_estimator", "holders_revenue_usd": 300698.71324214304, "holders_revenue_usd_source_key": "venicestats_subscription_arr_estimator", "price_usd": 17.18332485, "price_source_key": "venicestats_metrics", "venicestats_subscription_arr_usd": 109755030.33338222, "venicestats_subscription_mrr_usd": 9146252.527781852, "venicestats_daily_new_mrr_usd": 38013.885228878644, "venicestats_weighted_avg_sub_value_usd": 23.430236559139786, "venicestats_programmatic_burns_per_day": 1622.4285714285713, "venicestats_monthly_new_subs": 49386.72571428571, "venicestats_active_subs_12m": 390361.0834101474, "venicestats_steady_state_subs": 617334.0714285714, "venicestats_monthly_churn": 0.08, "venicestats_tier_mix_pro_pct": 91.59784946236559, "venicestats_tier_mix_pro_plus_pct": 7.4709677419354845, "venicestats_tier_mix_max_pct": 0.9311827956989247, "venicestats_tier_count_30d": 46500, "venicestats_tier_count_pro_30d": 42593, "venicestats_tier_count_pro_plus_30d": 3474, "venicestats_tier_count_max_30d": 433, "tvl_1d_pct": 0, "tvl_7d_pct": 0, "tvl_30d_pct": 0, "fees_1d_pct": 2015.808564889833, "fees_7d_pct": 2324.9896229205083, "fees_30d_pct": 3057.9364969769276, "revenue_1d_pct": 2015.808564889833, "revenue_7d_pct": null, "revenue_30d_pct": null, "price_1d_pct": -5.468230370980839, "price_7d_pct": 10.963066724239926, "price_30d_pct": 31.646039715444985, "revenue_surprise_z": null, "tvl_surprise_z": null, "revenue_vs_30d_median": 23.943839888692363, "tvl_vs_30d_median": null, "positive_revenue_cluster_count_7d": 1, "negative_revenue_cluster_count_7d": 0, "data_freshness_hours": 11.331944444444444, "data_quality": "OK", "labels": "[\"REV_POSITIVE_SURPRISE\", \"REV_STRONG_POSITIVE_SURPRISE\"]", "label": "REV_POSITIVE_SURPRISE; REV_STRONG_POSITIVE_SURPRISE", "dashboard_only": true, "created_at_utc": "2026-08-28T11:19:55Z", "revenue_12m_usd": 109755030.33338222, "revenue_runrate_12m_usd": 109755030.33338222, "revenue_3m_avg_monthly_usd": 9146252.527781852, "revenue_last6m_calendar_usd": 54877515.16669111, "revenue_last6m_annualized_usd": 109755030.33338222, "scenario_revenue_12m_usd": 109755030.33338222, "trend_ratio_runrate_to_last6m": 1, "weekly_revenue_pulse_ratio": 1, "trend_label": "VeniceStats modeled ARR", "revenue_months_available": 12, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "notes_caveats": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow.", "data_caveat": "", "revenue_multiple": 7.505162542767262, "multiple_runrate_12m": 7.505162542767262, "multiple_last6m_annualized": 7.505162542767262, "scenario_multiple": 7.505162542767262 }, "sharpest_tvl_move": { "date": "2026-08-28", "tvl_usd": 4117995393.58, "tvl_usd_source_key": "defillama_stablecoin:262", "enabled": true, "symbol": "WLFI", "venue_symbols": "{\"hyper\": \"WLFI\", \"lighter\": \"WLFI\"}", "venues": "both", "protocol_slug": "world-liberty-financial", "protocol_name": "World Liberty Financial", "crypto_sector": "DeFi", "token_symbol": "WLFI", "defillama_coin_id": "coingecko:world-liberty-financial", "market_cap_usd": 1866897221.8680954, "market_cap_source": "coingecko_simple_price_free_api", "market_cap_fetched_at_utc": "2026-08-28T11:18:06Z", "revenue_1d_usd": 351285, "revenue_7d_usd": 2427185, "revenue_30d_usd": 10398462, "revenue_1y_usd": 119740583, "revenue_1d_change_pct": 0.36, "fees_1d_usd": 351285, "fees_7d_usd": 2427185, "fees_30d_usd": 10398462, "fees_1y_usd": 119740583, "fees_1d_change_pct": 0.36, "value_capture_quality": "unclear", "primary_source": "defillama", "native_source_status": "unavailable", "notes": "World Liberty Financial revenue from DeFiLlama; TVL uses DefiLlama USD1 stablecoin circulating supply per Token Terminal WLFI TVL methodology; market cap from token market data.", "source": "defillama_public_api", "source_data_status": "OK", "source_fetched_at_utc": "2026-08-28T11:19:29Z", "source_errors": "", "stale_cache_keys": "", "research_only": true, "fees_usd": 351285, "fees_usd_source_key": "total24h", "revenue_usd": 351285, "revenue_usd_source_key": "total24h", "holders_revenue_usd": null, "holders_revenue_usd_source_key": null, "price_usd": 0.05876390539380248, "price_source_key": "chart", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_daily_new_mrr_usd": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_monthly_new_subs": null, "venicestats_active_subs_12m": null, "venicestats_steady_state_subs": null, "venicestats_monthly_churn": null, "venicestats_tier_mix_pro_pct": null, "venicestats_tier_mix_pro_plus_pct": null, "venicestats_tier_mix_max_pct": null, "venicestats_tier_count_30d": null, "venicestats_tier_count_pro_30d": null, "venicestats_tier_count_pro_plus_30d": null, "venicestats_tier_count_max_30d": null, "tvl_1d_pct": 0.36841536887020165, "tvl_7d_pct": 2.900083514330941, "tvl_30d_pct": 0.8160328020111737, "fees_1d_pct": 0, "fees_7d_pct": 2.2434563431195915, "fees_30d_pct": -1.529676909363069, "revenue_1d_pct": 0, "revenue_7d_pct": 2.2434563431195915, "revenue_30d_pct": -1.529676909363069, "price_1d_pct": 0.5504704404102225, "price_7d_pct": -4.212657148340879, "price_30d_pct": 7.129414538364638, "revenue_surprise_z": 1.6205396493617088, "tvl_surprise_z": 3.8003688428110673, "revenue_vs_30d_median": 1.0134892436589302, "tvl_vs_30d_median": 1.0242405933309127, "positive_revenue_cluster_count_7d": 2, "negative_revenue_cluster_count_7d": 0, "data_freshness_hours": 11.331944444444444, "data_quality": "OK", "labels": "[\"REV_POSITIVE_SURPRISE\", \"REV_POSITIVE_CLUSTER\", \"TVL_POSITIVE_SURPRISE\", \"TVL_STRONG_POSITIVE_SURPRISE\", \"POSITIVE_FUNDAMENTAL_DIVERGENCE\"]", "label": "REV_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE; POSITIVE_FUNDAMENTAL_DIVERGENCE", "dashboard_only": true, "created_at_utc": "2026-08-28T11:19:55Z" }, "universe_quality": { "OK": 20, "PARTIAL": 1, "MANUAL_OVERRIDE": 0, "STALE": 0, "MISSING": 0 } }, "xPostText": "CVL Protocol Fundamentals Radar, 28 Aug 2026. On Last6Months annualized revenue, the cheapest names are CARDS (1.6x), PUMP (4.8x), MET (5.8x), and most expensive are ENA (> 500x), UNI (56.2x), HYPE (31.8x). On 3M annualized run-rate revenue, the cheapest names are CARDS (1.1x), PUMP (5.0x), MET (5.3x), and most expensive are ENA (> 500x), UNI (54.0x), CRV (33.9x). 7D revenue pulse vs Last6Months annualized revenue (latest 7D annualized / Last6Months annualized): strongest are UNI (3.01x), PUMP (2.14x), LIT (2.02x); weakest are ENA (0.06x), VVV (0.13x), CRV (0.33x). Revenue run-rate acceleration vs Last6Months annualized revenue (latest 3 full months annualized / Last6Months annualized): VVV (1.47x), CARDS (1.41x). Revenue run-rate deceleration vs Last6Months annualized revenue (same measure): CRV (0.70x), RAY (0.76x). @CryptoValueLabs", "sourceFreshness": { "max_data_freshness_hours": 11.331944444444444, "min_data_freshness_hours": 11.331944444444444, "latest_source_fetched_at_utc": "2026-08-28T11:19:54Z" }, "tradeEligibilityEffect": "none", "researchOnly": true, "dashboardOnly": true, "sourcePath": "C:\\trading-lab\\cvl-trade-idea-agent\\reports\\protocol_fundamentals_radar.json", "watchlistPath": "C:\\trading-lab\\cvl-trade-idea-agent\\config\\protocol_fundamentals_watchlist.json", "revenueMultipleRows": [ { "rank": 1, "name": "Collector Crypt", "ticker": "CARDS", "symbol": "CARDS", "crypto_sector": "Consumer", "revenue_12m_usd": 82170367, "circulating_mcap_usd": 163172341.62950966, "revenue_multiple": 1.9857808549097713, "notes_caveats": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "data_caveat": "TVL not published by DeFiLlama for Collector Crypt.", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 15, "trend_label": "Acceleration", "trend_ratio_runrate_to_last6m": 1.4101677502843406, "scenario_multiple": 1.1023177621322908, "scenario_revenue_12m_usd": 148026592, "scenario_default_multiplier": 1, "multiple_runrate_12m": 1.1023177621322908, "multiple_last6m_annualized": 1.5544529587245615, "revenue_runrate_12m_usd": 148026592, "revenue_3m_avg_monthly_usd": 12335549.333333334, "revenue_last6m_calendar_usd": 52485455, "revenue_last6m_annualized_usd": 104970910, "revenue_1d_usd": 517746, "revenue_7d_usd": 1923656, "revenue_30d_usd": 11272338, "tvl_7d_pct": null, "tvl_30d_pct": null, "revenue_7d_pct": 94.52142288213282, "revenue_30d_pct": -24.453147457214104, "price_7d_pct": -12.494973715659006, "revenue_surprise_z": null, "data_quality": "COMPLETE", "market_cap_source": null, "source_errors": "", "native_source_status": "active", "primary_source": "defillama", "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 2, "name": "pump.fun", "ticker": "PUMP", "symbol": "PUMP", "crypto_sector": "Launchpad", "revenue_12m_usd": 464689364, "circulating_mcap_usd": 1909520905.3532066, "revenue_multiple": 4.109241685491228, "notes_caveats": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 30, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9494696015538393, "scenario_multiple": 5.039743638697, "scenario_revenue_12m_usd": 378892468, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.039743638697, "multiple_last6m_annualized": 4.7850833845671366, "revenue_runrate_12m_usd": 378892468, "revenue_3m_avg_monthly_usd": 31574372.333333332, "revenue_last6m_calendar_usd": 199528488, "revenue_last6m_annualized_usd": 399056976, "revenue_1d_usd": 3272464, "revenue_7d_usd": 16381754, "revenue_30d_usd": 53146689, "tvl_7d_pct": 21.43432254303265, "tvl_30d_pct": 53.74503508016777, "revenue_7d_pct": 54.18485141316859, "revenue_30d_pct": 125.67581080400781, "price_7d_pct": 16.47950180617287, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 3, "name": "Meteora", "ticker": "MET", "symbol": "MET", "crypto_sector": "Dexs", "revenue_12m_usd": 48932908, "circulating_mcap_usd": 116200188.08615352, "revenue_multiple": 2.374683885252712, "notes_caveats": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 17, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.0815828984823976, "scenario_multiple": 5.338425690987499, "scenario_revenue_12m_usd": 21766752, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.338425690987499, "multiple_last6m_annualized": 5.773949932191156, "revenue_runrate_12m_usd": 21766752, "revenue_3m_avg_monthly_usd": 1813896, "revenue_last6m_calendar_usd": 10062452, "revenue_last6m_annualized_usd": 20124904, "revenue_1d_usd": 98375, "revenue_7d_usd": 663261, "revenue_30d_usd": 1875993, "tvl_7d_pct": 13.285457845047919, "tvl_30d_pct": 23.76459863772097, "revenue_7d_pct": 22.639157264850716, "revenue_30d_pct": 105.8571189419938, "price_7d_pct": -0.034891725096152904, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 4, "name": "Venice", "ticker": "VVV", "symbol": "VVV", "crypto_sector": "AI", "revenue_12m_usd": 109755030.33338222, "circulating_mcap_usd": 823729342.5383848, "revenue_multiple": 7.505162542767262, "notes_caveats": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow. VeniceStats revenue surprise is computed from 30 completed daily burn rows; latest completed day 2026-08-27 vs prior 30-day log baseline.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 12, "trend_label": "VeniceStats modeled ARR", "trend_ratio_runrate_to_last6m": 1, "scenario_multiple": 7.505162542767262, "scenario_revenue_12m_usd": 109755030.33338222, "scenario_default_multiplier": 1, "multiple_runrate_12m": 7.505162542767262, "multiple_last6m_annualized": 7.505162542767262, "revenue_runrate_12m_usd": 109755030.33338222, "revenue_3m_avg_monthly_usd": 9146252.527781852, "revenue_last6m_calendar_usd": 54877515.16669111, "revenue_last6m_annualized_usd": 109755030.33338222, "revenue_1d_usd": 300698.71324214304, "revenue_7d_usd": 2104890.9926950014, "revenue_30d_usd": 9020961.39726429, "tvl_7d_pct": 0, "tvl_30d_pct": 0, "revenue_7d_pct": null, "revenue_30d_pct": null, "price_7d_pct": 10.963066724239926, "revenue_surprise_z": 0.6724522285711059, "data_quality": "OK", "market_cap_source": null, "source_errors": "VeniceStats subscription ARR is modeled from new observed programmatic subscription burns, 30d tier mix, 8% monthly churn, and 12-month retained cohort. It is a lower-bound/floor estimate and is not DeFiLlama trailing protocol revenue.", "native_source_status": "active", "primary_source": "venicestats", "source": "venicestats_public_api; mcap:venicestats_public_api; subscription_arr:venicestats_30d_tier_mix_8pct_churn; all_vvv_revenue_windows:venicestats_arr_recognition", "notes": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow. VeniceStats revenue surprise is computed from 30 completed daily burn rows; latest completed day 2026-08-27 vs prior 30-day log baseline.", "venicestats_subscription_arr_usd": 109755030.33338222, "venicestats_subscription_mrr_usd": 9146252.527781852, "venicestats_programmatic_burns_per_day": 1622.4285714285713, "venicestats_weighted_avg_sub_value_usd": 23.430236559139786, "venicestats_active_subs_12m": 390361.0834101474 }, { "rank": 5, "name": "Aerodrome V1", "ticker": "AERO", "symbol": "AERO", "crypto_sector": "Dexs", "revenue_12m_usd": 109475059, "circulating_mcap_usd": 509788550.59973496, "revenue_multiple": 4.656663858018427, "notes_caveats": "Aerodrome revenue mapped to AERO; emissions and ve mechanics make value capture partial.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 37, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.0362403073747966, "scenario_multiple": 7.922512029803347, "scenario_revenue_12m_usd": 64346832, "scenario_default_multiplier": 1, "multiple_runrate_12m": 7.922512029803347, "multiple_last6m_annualized": 8.209626300943944, "revenue_runrate_12m_usd": 64346832, "revenue_3m_avg_monthly_usd": 5362236, "revenue_last6m_calendar_usd": 31048219, "revenue_last6m_annualized_usd": 62096438, "revenue_1d_usd": 214231, "revenue_7d_usd": 1798543, "revenue_30d_usd": 4562788, "tvl_7d_pct": -1.619957381695097, "tvl_30d_pct": -15.128723088501625, "revenue_7d_pct": -34.58895012442178, "revenue_30d_pct": 0.5151712780282734, "price_7d_pct": 7.2403217491636145, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Aerodrome revenue mapped to AERO; emissions and ve mechanics make value capture partial.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 6, "name": "Morpho Blue", "ticker": "MORPHO", "symbol": "MORPHO", "crypto_sector": "Lending", "revenue_12m_usd": 208998723, "circulating_mcap_usd": 1739432629.2000852, "revenue_multiple": 8.322695010916814, "notes_caveats": "Morpho Blue revenue from DeFiLlama fees endpoint; MORPHO mcap from token market data.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 31, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.057377486429008, "scenario_multiple": 8.885560123065739, "scenario_revenue_12m_usd": 195759480, "scenario_default_multiplier": 1, "multiple_runrate_12m": 8.885560123065739, "multiple_last6m_annualized": 9.395391228441078, "revenue_runrate_12m_usd": 195759480, "revenue_3m_avg_monthly_usd": 16313290, "revenue_last6m_calendar_usd": 92568398, "revenue_last6m_annualized_usd": 185136796, "revenue_1d_usd": 601593, "revenue_7d_usd": 5237560, "revenue_30d_usd": 17704579, "tvl_7d_pct": 7.58168477331706, "tvl_30d_pct": 26.57524507865423, "revenue_7d_pct": 0.2135559734870759, "revenue_30d_pct": 15.24681803204573, "price_7d_pct": 12.737102835803599, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Morpho Blue revenue from DeFiLlama fees endpoint; MORPHO mcap from token market data.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 7, "name": "Sky Lending", "ticker": "SKY", "symbol": "SKY", "crypto_sector": "CDP", "revenue_12m_usd": 221711180, "circulating_mcap_usd": 1606129070.5936792, "revenue_multiple": 7.244240324703875, "notes_caveats": "Sky Lending mapped to SKY; legacy Maker/MKR row intentionally excluded from this dashboard.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 82, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9404214884172689, "scenario_multiple": 9.560561603651394, "scenario_revenue_12m_usd": 167995264, "scenario_default_multiplier": 1, "multiple_runrate_12m": 9.560561603651394, "multiple_last6m_annualized": 8.990957573410835, "revenue_runrate_12m_usd": 167995264, "revenue_3m_avg_monthly_usd": 13999605.333333334, "revenue_last6m_calendar_usd": 89319133, "revenue_last6m_annualized_usd": 178638266, "revenue_1d_usd": 469113, "revenue_7d_usd": 3210502, "revenue_30d_usd": 13705948, "tvl_7d_pct": -1.862188295594306, "tvl_30d_pct": -1.8533016282905976, "revenue_7d_pct": 5.320904419044797, "revenue_30d_pct": 1.7777527070917016, "price_7d_pct": 4.7059464381879845, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Sky Lending mapped to SKY; legacy Maker/MKR row intentionally excluded from this dashboard.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 8, "name": "GMX V1 Perps", "ticker": "GMX", "symbol": "GMX", "crypto_sector": "Derivatives", "revenue_12m_usd": 11587428, "circulating_mcap_usd": 81551594.72260928, "revenue_multiple": 7.0379375580680446, "notes_caveats": "GMX protocol revenue mapped to GMX; staking and distribution mechanics need separate validation.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 60, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.8272146242057399, "scenario_multiple": 9.564863486394266, "scenario_revenue_12m_usd": 8526164, "scenario_default_multiplier": 1, "multiple_runrate_12m": 9.564863486394266, "multiple_last6m_annualized": 7.912194954476835, "revenue_runrate_12m_usd": 8526164, "revenue_3m_avg_monthly_usd": 710513.6666666666, "revenue_last6m_calendar_usd": 5153538, "revenue_last6m_annualized_usd": 10307076, "revenue_1d_usd": 18945, "revenue_7d_usd": 221047, "revenue_30d_usd": 673036, "tvl_7d_pct": 3.3834401912337517, "tvl_30d_pct": 17.835289179495266, "revenue_7d_pct": -70.61059228692874, "revenue_30d_pct": 61.7709845444454, "price_7d_pct": 9.873279372609934, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "GMX protocol revenue mapped to GMX; staking and distribution mechanics need separate validation.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 9, "name": "Lido", "ticker": "LDO", "symbol": "LDO", "crypto_sector": "Liquid Staking", "revenue_12m_usd": 37200137, "circulating_mcap_usd": 307216699.89162004, "revenue_multiple": 8.258483023641016, "notes_caveats": "Lido protocol fundamentals mapped to LDO; direct value capture is weak.", "data_caveat": "", "value_capture": "weak", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 65, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9178727153979875, "scenario_multiple": 11.031464100626907, "scenario_revenue_12m_usd": 27849132, "scenario_default_multiplier": 1, "multiple_runrate_12m": 11.031464100626907, "multiple_last6m_annualized": 10.125479908857837, "revenue_runrate_12m_usd": 27849132, "revenue_3m_avg_monthly_usd": 2320761, "revenue_last6m_calendar_usd": 15170476, "revenue_last6m_annualized_usd": 30340952, "revenue_1d_usd": 99727, "revenue_7d_usd": 699508, "revenue_30d_usd": 2422141, "tvl_7d_pct": 6.763176073108615, "tvl_30d_pct": 33.924430836815574, "revenue_7d_pct": 3.7547597744439125, "revenue_30d_pct": 35.20105203221171, "price_7d_pct": 1.3932248645844831, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Lido protocol fundamentals mapped to LDO; direct value capture is weak.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 10, "name": "World Liberty Financial", "ticker": "WLFI", "symbol": "WLFI", "crypto_sector": "DeFi", "revenue_12m_usd": 119740583, "circulating_mcap_usd": 1866897221.8680954, "revenue_multiple": 15.591181996066409, "notes_caveats": "World Liberty Financial revenue from DeFiLlama; TVL uses DefiLlama USD1 stablecoin circulating supply per Token Terminal WLFI TVL methodology; market cap from token market data.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 15, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.026303055322891, "scenario_multiple": 13.208007803469414, "scenario_revenue_12m_usd": 141345860, "scenario_default_multiplier": 1, "multiple_runrate_12m": 13.208007803469414, "multiple_last6m_annualized": 13.555418763429246, "revenue_runrate_12m_usd": 141345860, "revenue_3m_avg_monthly_usd": 11778821.666666666, "revenue_last6m_calendar_usd": 68861658, "revenue_last6m_annualized_usd": 137723316, "revenue_1d_usd": 351285, "revenue_7d_usd": 2427185, "revenue_30d_usd": 10398462, "tvl_7d_pct": 2.900083514330941, "tvl_30d_pct": 0.8160328020111737, "revenue_7d_pct": 2.2434563431195915, "revenue_30d_pct": -1.529676909363069, "price_7d_pct": -4.212657148340879, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api; tvl:defillama_stablecoin:262", "notes": "World Liberty Financial revenue from DeFiLlama; TVL uses DefiLlama USD1 stablecoin circulating supply per Token Terminal WLFI TVL methodology; market cap from token market data.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 11, "name": "Jupiter Aggregator", "ticker": "JUP", "symbol": "JUP", "crypto_sector": "DEX Aggregator", "revenue_12m_usd": 96961693.01000004, "circulating_mcap_usd": 782118580.7502956, "revenue_multiple": 8.066263660120216, "notes_caveats": "Jupiter revenue mapped to JUP; value capture is not assumed direct.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 45, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.893593746588892, "scenario_multiple": 14.091623995391897, "scenario_revenue_12m_usd": 55502373.68, "scenario_default_multiplier": 1, "multiple_runrate_12m": 14.091623995391897, "multiple_last6m_annualized": 12.592187081564175, "revenue_runrate_12m_usd": 55502373.68, "revenue_3m_avg_monthly_usd": 4625197.806666667, "revenue_last6m_calendar_usd": 31055708.42, "revenue_last6m_annualized_usd": 62111416.84, "revenue_1d_usd": 316817.65, "revenue_7d_usd": 2005698.31, "revenue_30d_usd": 5201781.6400000015, "tvl_7d_pct": 9.207783884120518, "tvl_30d_pct": 20.113119576233057, "revenue_7d_pct": 5.749558208100149, "revenue_30d_pct": 112.12708087885352, "price_7d_pct": 16.82271665583514, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Jupiter revenue mapped to JUP; value capture is not assumed direct.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 12, "name": "PancakeSwap AMM", "ticker": "CAKE", "symbol": "CAKE", "crypto_sector": "Dexs", "revenue_12m_usd": 89651097.82000001, "circulating_mcap_usd": 559404061.9202162, "revenue_multiple": 6.239790426698159, "notes_caveats": "PancakeSwap fundamentals mapped to CAKE; burn and emission mechanics complicate value capture.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 65, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.8576384809657732, "scenario_multiple": 15.48889382332663, "scenario_revenue_12m_usd": 36116463.08, "scenario_default_multiplier": 1, "multiple_runrate_12m": 15.48889382332663, "multiple_last6m_annualized": 13.283871370477996, "revenue_runrate_12m_usd": 36116463.08, "revenue_3m_avg_monthly_usd": 3009705.2566666664, "revenue_last6m_calendar_usd": 21055761.77, "revenue_last6m_annualized_usd": 42111523.54, "revenue_1d_usd": 177280.14, "revenue_7d_usd": 1166650.37, "revenue_30d_usd": 5466775.879999999, "tvl_7d_pct": -1.8167877559331667, "tvl_30d_pct": 12.754088148702362, "revenue_7d_pct": -29.41649609398173, "revenue_30d_pct": 124.91876706348405, "price_7d_pct": 2.370818945003815, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "PancakeSwap fundamentals mapped to CAKE; burn and emission mechanics complicate value capture.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 13, "name": "Raydium AMM", "ticker": "RAY", "symbol": "RAY", "crypto_sector": "Dexs", "revenue_12m_usd": 21873291, "circulating_mcap_usd": 219404036.56154922, "revenue_multiple": 10.030682468474872, "notes_caveats": "Raydium revenue mapped to RAY; fee distribution should be validated separately.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 47, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.7596722068103943, "scenario_multiple": 23.43534426694323, "scenario_revenue_12m_usd": 9362100, "scenario_default_multiplier": 1, "multiple_runrate_12m": 23.43534426694323, "multiple_last6m_annualized": 17.803179696630085, "revenue_runrate_12m_usd": 9362100, "revenue_3m_avg_monthly_usd": 780175, "revenue_last6m_calendar_usd": 6161934, "revenue_last6m_annualized_usd": 12323868, "revenue_1d_usd": 55655, "revenue_7d_usd": 407082, "revenue_30d_usd": 1295997, "tvl_7d_pct": 17.55626757267923, "tvl_30d_pct": 42.077469622458715, "revenue_7d_pct": 6.551413857140122, "revenue_30d_pct": 225.8107949888772, "price_7d_pct": 13.658732535912923, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Raydium revenue mapped to RAY; fee distribution should be validated separately.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 14, "name": "Convex Finance", "ticker": "CVX", "symbol": "CVX", "crypto_sector": "Yield", "revenue_12m_usd": 17964209, "circulating_mcap_usd": 222275058.21674758, "revenue_multiple": 12.37321711280177, "notes_caveats": "Convex revenue mapped to CVX; value linkage depends on staking and lock dynamics.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 64, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.8030595775087545, "scenario_multiple": 25.592511619445997, "scenario_revenue_12m_usd": 8685160, "scenario_default_multiplier": 1, "multiple_runrate_12m": 25.592511619445997, "multiple_last6m_annualized": 20.55231156850019, "revenue_runrate_12m_usd": 8685160, "revenue_3m_avg_monthly_usd": 723763.3333333334, "revenue_last6m_calendar_usd": 5407544, "revenue_last6m_annualized_usd": 10815088, "revenue_1d_usd": 5863, "revenue_7d_usd": 96931, "revenue_30d_usd": 851686, "tvl_7d_pct": 6.09716737413207, "tvl_30d_pct": 18.132658371043906, "revenue_7d_pct": -23.12835977448538, "revenue_30d_pct": 4.5470756062767475, "price_7d_pct": 30.575832092586957, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Convex revenue mapped to CVX; value linkage depends on staking and lock dynamics.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 15, "name": "Pendle", "ticker": "PENDLE", "symbol": "PENDLE", "crypto_sector": "Yield", "revenue_12m_usd": 19430175, "circulating_mcap_usd": 301429562.6001688, "revenue_multiple": 15.513476466381226, "notes_caveats": "Pendle revenue mapped to PENDLE with partial tokenomics linkage.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 38, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9185748597380916, "scenario_multiple": 27.911116405549752, "scenario_revenue_12m_usd": 10799624, "scenario_default_multiplier": 1, "multiple_runrate_12m": 27.911116405549752, "multiple_last6m_annualized": 25.63844983736141, "revenue_runrate_12m_usd": 10799624, "revenue_3m_avg_monthly_usd": 899968.6666666666, "revenue_last6m_calendar_usd": 5878467, "revenue_last6m_annualized_usd": 11756934, "revenue_1d_usd": 21691, "revenue_7d_usd": 193531, "revenue_30d_usd": 643564, "tvl_7d_pct": 1.2394825967825815, "tvl_30d_pct": -2.1856137836746856, "revenue_7d_pct": 49.4694046306505, "revenue_30d_pct": 248.00256698219155, "price_7d_pct": 10.134106564723481, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Pendle revenue mapped to PENDLE with partial tokenomics linkage.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 16, "name": "Lighter DEX", "ticker": "LIT", "symbol": "LIT", "crypto_sector": "Derivatives", "revenue_12m_usd": 57896670, "circulating_mcap_usd": 873598410.6674919, "revenue_multiple": 15.088923260482717, "notes_caveats": "Lighter parent slug used for DeFiLlama aggregate revenue and TVL; market cap/price mapped to LIT token.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 11, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.8189312773874341, "scenario_multiple": 30.084346891178352, "scenario_revenue_12m_usd": 29038304, "scenario_default_multiplier": 1, "multiple_runrate_12m": 30.084346891178352, "multiple_last6m_annualized": 24.63701262895937, "revenue_runrate_12m_usd": 29038304, "revenue_3m_avg_monthly_usd": 2419858.6666666665, "revenue_last6m_calendar_usd": 17729390, "revenue_last6m_annualized_usd": 35458780, "revenue_1d_usd": 165672, "revenue_7d_usd": 1376406, "revenue_30d_usd": 2959590, "tvl_7d_pct": 14.521363882396143, "tvl_30d_pct": 20.583412605108986, "revenue_7d_pct": -30.86831881892951, "revenue_30d_pct": 17.78774715078953, "price_7d_pct": 27.55631401280909, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Lighter parent slug used for DeFiLlama aggregate revenue and TVL; market cap/price mapped to LIT token.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 17, "name": "Aave V3", "ticker": "AAVE", "symbol": "AAVE", "crypto_sector": "Lending", "revenue_12m_usd": 106627813, "circulating_mcap_usd": 1950097011.5583074, "revenue_multiple": 18.288821243649696, "notes_caveats": "Aave protocol fundamentals mapped to AAVE governance token; value capture is indirect.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 69, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.7986089392691844, "scenario_multiple": 31.023819946934207, "scenario_revenue_12m_usd": 62858056, "scenario_default_multiplier": 1, "multiple_runrate_12m": 31.023819946934207, "multiple_last6m_annualized": 24.775899939899293, "revenue_runrate_12m_usd": 62858056, "revenue_3m_avg_monthly_usd": 5238171.333333333, "revenue_last6m_calendar_usd": 39354716, "revenue_last6m_annualized_usd": 78709432, "revenue_1d_usd": 151376, "revenue_7d_usd": 1180534, "revenue_30d_usd": 4334011, "tvl_7d_pct": 6.14902336425511, "tvl_30d_pct": 25.295971897686492, "revenue_7d_pct": 2.88658252282011, "revenue_30d_pct": 14.334916954311652, "price_7d_pct": 11.89875578176087, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Aave protocol fundamentals mapped to AAVE governance token; value capture is indirect.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 18, "name": "Hyperliquid", "ticker": "HYPE", "symbol": "HYPE", "crypto_sector": "Derivatives", "revenue_12m_usd": 720046361, "circulating_mcap_usd": 18584908156.836437, "revenue_multiple": 25.81071048123308, "notes_caveats": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 21, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.98920205857852, "scenario_multiple": 32.107552135832975, "scenario_revenue_12m_usd": 578832920, "scenario_default_multiplier": 1, "multiple_runrate_12m": 32.107552135832975, "multiple_last6m_annualized": 31.760856668683132, "revenue_runrate_12m_usd": 578832920, "revenue_3m_avg_monthly_usd": 48236076.666666664, "revenue_last6m_calendar_usd": 292575675, "revenue_last6m_annualized_usd": 585151350, "revenue_1d_usd": 2774693, "revenue_7d_usd": 21577111, "revenue_30d_usd": 48809027, "tvl_7d_pct": 4.305824378367945, "tvl_30d_pct": 8.945372517346373, "revenue_7d_pct": -43.851152463719785, "revenue_30d_pct": 62.38372916430136, "price_7d_pct": 11.869047967265042, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 19, "name": "Curve DEX", "ticker": "CRV", "symbol": "CRV", "crypto_sector": "Dexs", "revenue_12m_usd": 30243536, "circulating_mcap_usd": 498475802.19245815, "revenue_multiple": 16.482060900301413, "notes_caveats": "Curve DEX revenue mapped to CRV; veCRV mechanics imply partial linkage.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 70, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.6985618284530981, "scenario_multiple": 33.853965051535106, "scenario_revenue_12m_usd": 14724296, "scenario_default_multiplier": 1, "multiple_runrate_12m": 33.853965051535106, "multiple_last6m_annualized": 23.649087726787645, "revenue_runrate_12m_usd": 14724296, "revenue_3m_avg_monthly_usd": 1227024.6666666667, "revenue_last6m_calendar_usd": 10539007, "revenue_last6m_annualized_usd": 21078014, "revenue_1d_usd": 8518, "revenue_7d_usd": 131626, "revenue_30d_usd": 509464, "tvl_7d_pct": 3.2491628907133805, "tvl_30d_pct": 3.9612894574941153, "revenue_7d_pct": -72.0895180051771, "revenue_30d_pct": -24.237303210886772, "price_7d_pct": 0.3177913309498103, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Curve DEX revenue mapped to CRV; veCRV mechanics imply partial linkage.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 20, "name": "Uniswap V3", "ticker": "UNI", "symbol": "UNI", "crypto_sector": "Dexs", "revenue_12m_usd": 35704066, "circulating_mcap_usd": 2877295937.929649, "revenue_multiple": 80.58734649240367, "notes_caveats": "Uniswap fees are mapped to UNI with weak direct value capture unless fee switch economics change.", "data_caveat": "", "value_capture": "weak", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 42, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.0420662911632952, "scenario_multiple": 53.95416415293341, "scenario_revenue_12m_usd": 53328524, "scenario_default_multiplier": 1, "multiple_runrate_12m": 53.95416415293341, "multiple_last6m_annualized": 56.223815731662924, "revenue_runrate_12m_usd": 53328524, "revenue_3m_avg_monthly_usd": 4444043.666666667, "revenue_last6m_calendar_usd": 25587875, "revenue_last6m_annualized_usd": 51175750, "revenue_1d_usd": 426711, "revenue_7d_usd": 2953117, "revenue_30d_usd": 8067226, "tvl_7d_pct": 10.890420976008379, "tvl_30d_pct": 11.97327751735666, "revenue_7d_pct": -24.255129554648683, "revenue_30d_pct": 0.7524957263342809, "price_7d_pct": 17.75683560206422, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Uniswap fees are mapped to UNI with weak direct value capture unless fee switch economics change.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 21, "name": "Ethena USDe", "ticker": "ENA", "symbol": "ENA", "crypto_sector": "Basis Trading", "revenue_12m_usd": 5264046.2200000025, "circulating_mcap_usd": 1649632505.740421, "revenue_multiple": 313.37728370865636, "notes_caveats": "Ethena fundamentals mapped to ENA; token value capture remains unclear.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 34, "trend_label": "Acceleration", "trend_ratio_runrate_to_last6m": 1.1583507186400523, "scenario_multiple": 503.9052023376015, "scenario_revenue_12m_usd": 3273696.12, "scenario_default_multiplier": 1, "multiple_runrate_12m": 503.9052023376015, "multiple_last6m_annualized": 583.6989532542217, "revenue_runrate_12m_usd": 3273696.12, "revenue_3m_avg_monthly_usd": 272808.01, "revenue_last6m_calendar_usd": 1413085.03, "revenue_last6m_annualized_usd": 2826170.06, "revenue_1d_usd": 58.53, "revenue_7d_usd": 3426.71, "revenue_30d_usd": 28677.189999999995, "tvl_7d_pct": 2.671445989830725, "tvl_30d_pct": 9.958137244457156, "revenue_7d_pct": -96.62261973456434, "revenue_30d_pct": -97.86542669584244, "price_7d_pct": 18.810304399062048, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Ethena fundamentals mapped to ENA; token value capture remains unclear.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null } ], "cheapestRevenueMultipleRows": [ { "rank": 1, "name": "Collector Crypt", "ticker": "CARDS", "symbol": "CARDS", "crypto_sector": "Consumer", "revenue_12m_usd": 82170367, "circulating_mcap_usd": 163172341.62950966, "revenue_multiple": 1.9857808549097713, "notes_caveats": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "data_caveat": "TVL not published by DeFiLlama for Collector Crypt.", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 15, "trend_label": "Acceleration", "trend_ratio_runrate_to_last6m": 1.4101677502843406, "scenario_multiple": 1.1023177621322908, "scenario_revenue_12m_usd": 148026592, "scenario_default_multiplier": 1, "multiple_runrate_12m": 1.1023177621322908, "multiple_last6m_annualized": 1.5544529587245615, "revenue_runrate_12m_usd": 148026592, "revenue_3m_avg_monthly_usd": 12335549.333333334, "revenue_last6m_calendar_usd": 52485455, "revenue_last6m_annualized_usd": 104970910, "revenue_1d_usd": 517746, "revenue_7d_usd": 1923656, "revenue_30d_usd": 11272338, "tvl_7d_pct": null, "tvl_30d_pct": null, "revenue_7d_pct": 94.52142288213282, "revenue_30d_pct": -24.453147457214104, "price_7d_pct": -12.494973715659006, "revenue_surprise_z": null, "data_quality": "COMPLETE", "market_cap_source": null, "source_errors": "", "native_source_status": "active", "primary_source": "defillama", "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 2, "name": "pump.fun", "ticker": "PUMP", "symbol": "PUMP", "crypto_sector": "Launchpad", "revenue_12m_usd": 464689364, "circulating_mcap_usd": 1909520905.3532066, "revenue_multiple": 4.109241685491228, "notes_caveats": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 30, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9494696015538393, "scenario_multiple": 5.039743638697, "scenario_revenue_12m_usd": 378892468, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.039743638697, "multiple_last6m_annualized": 4.7850833845671366, "revenue_runrate_12m_usd": 378892468, "revenue_3m_avg_monthly_usd": 31574372.333333332, "revenue_last6m_calendar_usd": 199528488, "revenue_last6m_annualized_usd": 399056976, "revenue_1d_usd": 3272464, "revenue_7d_usd": 16381754, "revenue_30d_usd": 53146689, "tvl_7d_pct": 21.43432254303265, "tvl_30d_pct": 53.74503508016777, "revenue_7d_pct": 54.18485141316859, "revenue_30d_pct": 125.67581080400781, "price_7d_pct": 16.47950180617287, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Fill only from a reviewed public source when DeFiLlama revenue or market-cap coverage is incomplete.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 3, "name": "Meteora", "ticker": "MET", "symbol": "MET", "crypto_sector": "Dexs", "revenue_12m_usd": 48932908, "circulating_mcap_usd": 116200188.08615352, "revenue_multiple": 2.374683885252712, "notes_caveats": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 17, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.0815828984823976, "scenario_multiple": 5.338425690987499, "scenario_revenue_12m_usd": 21766752, "scenario_default_multiplier": 1, "multiple_runrate_12m": 5.338425690987499, "multiple_last6m_annualized": 5.773949932191156, "revenue_runrate_12m_usd": 21766752, "revenue_3m_avg_monthly_usd": 1813896, "revenue_last6m_calendar_usd": 10062452, "revenue_last6m_annualized_usd": 20124904, "revenue_1d_usd": 98375, "revenue_7d_usd": 663261, "revenue_30d_usd": 1875993, "tvl_7d_pct": 13.285457845047919, "tvl_30d_pct": 23.76459863772097, "revenue_7d_pct": 22.639157264850716, "revenue_30d_pct": 105.8571189419938, "price_7d_pct": -0.034891725096152904, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 4, "name": "Venice", "ticker": "VVV", "symbol": "VVV", "crypto_sector": "AI", "revenue_12m_usd": 109755030.33338222, "circulating_mcap_usd": 823729342.5383848, "revenue_multiple": 7.505162542767262, "notes_caveats": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow. VeniceStats revenue surprise is computed from 30 completed daily burn rows; latest completed day 2026-08-27 vs prior 30-day log baseline.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 12, "trend_label": "VeniceStats modeled ARR", "trend_ratio_runrate_to_last6m": 1, "scenario_multiple": 7.505162542767262, "scenario_revenue_12m_usd": 109755030.33338222, "scenario_default_multiplier": 1, "multiple_runrate_12m": 7.505162542767262, "multiple_last6m_annualized": 7.505162542767262, "revenue_runrate_12m_usd": 109755030.33338222, "revenue_3m_avg_monthly_usd": 9146252.527781852, "revenue_last6m_calendar_usd": 54877515.16669111, "revenue_last6m_annualized_usd": 109755030.33338222, "revenue_1d_usd": 300698.71324214304, "revenue_7d_usd": 2104890.9926950014, "revenue_30d_usd": 9020961.39726429, "tvl_7d_pct": 0, "tvl_30d_pct": 0, "revenue_7d_pct": null, "revenue_30d_pct": null, "price_7d_pct": 10.963066724239926, "revenue_surprise_z": 0.6724522285711059, "data_quality": "OK", "market_cap_source": null, "source_errors": "VeniceStats subscription ARR is modeled from new observed programmatic subscription burns, 30d tier mix, 8% monthly churn, and 12-month retained cohort. It is a lower-bound/floor estimate and is not DeFiLlama trailing protocol revenue.", "native_source_status": "active", "primary_source": "venicestats", "source": "venicestats_public_api; mcap:venicestats_public_api; subscription_arr:venicestats_30d_tier_mix_8pct_churn; all_vvv_revenue_windows:venicestats_arr_recognition", "notes": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow. VeniceStats revenue surprise is computed from 30 completed daily burn rows; latest completed day 2026-08-27 vs prior 30-day log baseline.", "venicestats_subscription_arr_usd": 109755030.33338222, "venicestats_subscription_mrr_usd": 9146252.527781852, "venicestats_programmatic_burns_per_day": 1622.4285714285713, "venicestats_weighted_avg_sub_value_usd": 23.430236559139786, "venicestats_active_subs_12m": 390361.0834101474 }, { "rank": 5, "name": "GMX V1 Perps", "ticker": "GMX", "symbol": "GMX", "crypto_sector": "Derivatives", "revenue_12m_usd": 11587428, "circulating_mcap_usd": 81551594.72260928, "revenue_multiple": 7.0379375580680446, "notes_caveats": "GMX protocol revenue mapped to GMX; staking and distribution mechanics need separate validation.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 60, "trend_label": "Deceleration", "trend_ratio_runrate_to_last6m": 0.8272146242057399, "scenario_multiple": 9.564863486394266, "scenario_revenue_12m_usd": 8526164, "scenario_default_multiplier": 1, "multiple_runrate_12m": 9.564863486394266, "multiple_last6m_annualized": 7.912194954476835, "revenue_runrate_12m_usd": 8526164, "revenue_3m_avg_monthly_usd": 710513.6666666666, "revenue_last6m_calendar_usd": 5153538, "revenue_last6m_annualized_usd": 10307076, "revenue_1d_usd": 18945, "revenue_7d_usd": 221047, "revenue_30d_usd": 673036, "tvl_7d_pct": 3.3834401912337517, "tvl_30d_pct": 17.835289179495266, "revenue_7d_pct": -70.61059228692874, "revenue_30d_pct": 61.7709845444454, "price_7d_pct": 9.873279372609934, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "GMX protocol revenue mapped to GMX; staking and distribution mechanics need separate validation.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 6, "name": "Aerodrome V1", "ticker": "AERO", "symbol": "AERO", "crypto_sector": "Dexs", "revenue_12m_usd": 109475059, "circulating_mcap_usd": 509788550.59973496, "revenue_multiple": 4.656663858018427, "notes_caveats": "Aerodrome revenue mapped to AERO; emissions and ve mechanics make value capture partial.", "data_caveat": "", "value_capture": "partial", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 37, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.0362403073747966, "scenario_multiple": 7.922512029803347, "scenario_revenue_12m_usd": 64346832, "scenario_default_multiplier": 1, "multiple_runrate_12m": 7.922512029803347, "multiple_last6m_annualized": 8.209626300943944, "revenue_runrate_12m_usd": 64346832, "revenue_3m_avg_monthly_usd": 5362236, "revenue_last6m_calendar_usd": 31048219, "revenue_last6m_annualized_usd": 62096438, "revenue_1d_usd": 214231, "revenue_7d_usd": 1798543, "revenue_30d_usd": 4562788, "tvl_7d_pct": -1.619957381695097, "tvl_30d_pct": -15.128723088501625, "revenue_7d_pct": -34.58895012442178, "revenue_30d_pct": 0.5151712780282734, "price_7d_pct": 7.2403217491636145, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Aerodrome revenue mapped to AERO; emissions and ve mechanics make value capture partial.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 7, "name": "Sky Lending", "ticker": "SKY", "symbol": "SKY", "crypto_sector": "CDP", "revenue_12m_usd": 221711180, "circulating_mcap_usd": 1606129070.5936792, "revenue_multiple": 7.244240324703875, "notes_caveats": "Sky Lending mapped to SKY; legacy Maker/MKR row intentionally excluded from this dashboard.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 82, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9404214884172689, "scenario_multiple": 9.560561603651394, "scenario_revenue_12m_usd": 167995264, "scenario_default_multiplier": 1, "multiple_runrate_12m": 9.560561603651394, "multiple_last6m_annualized": 8.990957573410835, "revenue_runrate_12m_usd": 167995264, "revenue_3m_avg_monthly_usd": 13999605.333333334, "revenue_last6m_calendar_usd": 89319133, "revenue_last6m_annualized_usd": 178638266, "revenue_1d_usd": 469113, "revenue_7d_usd": 3210502, "revenue_30d_usd": 13705948, "tvl_7d_pct": -1.862188295594306, "tvl_30d_pct": -1.8533016282905976, "revenue_7d_pct": 5.320904419044797, "revenue_30d_pct": 1.7777527070917016, "price_7d_pct": 4.7059464381879845, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Sky Lending mapped to SKY; legacy Maker/MKR row intentionally excluded from this dashboard.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 8, "name": "Morpho Blue", "ticker": "MORPHO", "symbol": "MORPHO", "crypto_sector": "Lending", "revenue_12m_usd": 208998723, "circulating_mcap_usd": 1739432629.2000852, "revenue_multiple": 8.322695010916814, "notes_caveats": "Morpho Blue revenue from DeFiLlama fees endpoint; MORPHO mcap from token market data.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 31, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 1.057377486429008, "scenario_multiple": 8.885560123065739, "scenario_revenue_12m_usd": 195759480, "scenario_default_multiplier": 1, "multiple_runrate_12m": 8.885560123065739, "multiple_last6m_annualized": 9.395391228441078, "revenue_runrate_12m_usd": 195759480, "revenue_3m_avg_monthly_usd": 16313290, "revenue_last6m_calendar_usd": 92568398, "revenue_last6m_annualized_usd": 185136796, "revenue_1d_usd": 601593, "revenue_7d_usd": 5237560, "revenue_30d_usd": 17704579, "tvl_7d_pct": 7.58168477331706, "tvl_30d_pct": 26.57524507865423, "revenue_7d_pct": 0.2135559734870759, "revenue_30d_pct": 15.24681803204573, "price_7d_pct": 12.737102835803599, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Morpho Blue revenue from DeFiLlama fees endpoint; MORPHO mcap from token market data.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 9, "name": "Lido", "ticker": "LDO", "symbol": "LDO", "crypto_sector": "Liquid Staking", "revenue_12m_usd": 37200137, "circulating_mcap_usd": 307216699.89162004, "revenue_multiple": 8.258483023641016, "notes_caveats": "Lido protocol fundamentals mapped to LDO; direct value capture is weak.", "data_caveat": "", "value_capture": "weak", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 65, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.9178727153979875, "scenario_multiple": 11.031464100626907, "scenario_revenue_12m_usd": 27849132, "scenario_default_multiplier": 1, "multiple_runrate_12m": 11.031464100626907, "multiple_last6m_annualized": 10.125479908857837, "revenue_runrate_12m_usd": 27849132, "revenue_3m_avg_monthly_usd": 2320761, "revenue_last6m_calendar_usd": 15170476, "revenue_last6m_annualized_usd": 30340952, "revenue_1d_usd": 99727, "revenue_7d_usd": 699508, "revenue_30d_usd": 2422141, "tvl_7d_pct": 6.763176073108615, "tvl_30d_pct": 33.924430836815574, "revenue_7d_pct": 3.7547597744439125, "revenue_30d_pct": 35.20105203221171, "price_7d_pct": 1.3932248645844831, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Lido protocol fundamentals mapped to LDO; direct value capture is weak.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "rank": 10, "name": "Jupiter Aggregator", "ticker": "JUP", "symbol": "JUP", "crypto_sector": "DEX Aggregator", "revenue_12m_usd": 96961693.01000004, "circulating_mcap_usd": 782118580.7502956, "revenue_multiple": 8.066263660120216, "notes_caveats": "Jupiter revenue mapped to JUP; value capture is not assumed direct.", "data_caveat": "", "value_capture": "unclear", "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": true, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": "2026-07", "revenue_runrate_month_start": "2026-05", "revenue_last6m_month_end": "2026-07", "revenue_last6m_month_start": "2026-02", "revenue_months_available": 45, "trend_label": "Stable", "trend_ratio_runrate_to_last6m": 0.893593746588892, "scenario_multiple": 14.091623995391897, "scenario_revenue_12m_usd": 55502373.68, "scenario_default_multiplier": 1, "multiple_runrate_12m": 14.091623995391897, "multiple_last6m_annualized": 12.592187081564175, "revenue_runrate_12m_usd": 55502373.68, "revenue_3m_avg_monthly_usd": 4625197.806666667, "revenue_last6m_calendar_usd": 31055708.42, "revenue_last6m_annualized_usd": 62111416.84, "revenue_1d_usd": 316817.65, "revenue_7d_usd": 2005698.31, "revenue_30d_usd": 5201781.6400000015, "tvl_7d_pct": 9.207783884120518, "tvl_30d_pct": 20.113119576233057, "revenue_7d_pct": 5.749558208100149, "revenue_30d_pct": 112.12708087885352, "price_7d_pct": 16.82271665583514, "revenue_surprise_z": null, "data_quality": "OK", "market_cap_source": null, "source_errors": "", "native_source_status": null, "primary_source": null, "source": "defillama_public_api; mcap:coingecko_simple_price_free_api", "notes": "Jupiter revenue mapped to JUP; value capture is not assumed direct.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null } ], "insufficientDataRows": [], "summaryRows": [ { "symbol": "VVV", "protocol_name": "Venice", "crypto_sector": "AI", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 0, "market_cap_usd": 823729342.5383848, "notes_caveats": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow. VeniceStats revenue surprise is computed from 30 completed daily burn rows; latest completed day 2026-08-27 vs prior 30-day log baseline.", "data_caveat": "", "value_capture": null, "is_rankable_scenario": true, "is_rankable_runrate": true, "is_rankable_last6m": true, "has_market_cap": null, "has_3m_runrate_revenue": true, "has_last6m_calendar_revenue": true, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": 12, "trend_label": "VeniceStats modeled ARR", "trend_ratio_runrate_to_last6m": 1, "scenario_multiple": 7.505162542767262, "scenario_revenue_12m_usd": 109755030.33338222, "scenario_default_multiplier": null, "multiple_runrate_12m": 7.505162542767262, "multiple_last6m_annualized": 7.505162542767262, "revenue_runrate_12m_usd": 109755030.33338222, "revenue_3m_avg_monthly_usd": 9146252.527781852, "revenue_last6m_calendar_usd": 54877515.16669111, "revenue_last6m_annualized_usd": 109755030.33338222, "revenue_1d_usd": 300698.71324214304, "revenue_7d_usd": 2104890.9926950014, "revenue_30d_usd": 9020961.39726429, "revenue_1y_usd": 109755030.33338222, "tvl_7d_pct": 0, "tvl_30d_pct": 0, "revenue_7d_pct": null, "revenue_30d_pct": null, "price_7d_pct": 10.963066724239926, "revenue_surprise_z": 0.6724522285711059, "tvl_surprise_z": null, "data_quality": "OK", "label": "", "market_cap_source": "venicestats_public_api", "source_errors": "VeniceStats subscription ARR is modeled from new observed programmatic subscription burns, 30d tier mix, 8% monthly churn, and 12-month retained cohort. It is a lower-bound/floor estimate and is not DeFiLlama trailing protocol revenue.", "native_source_status": "active", "primary_source": "venicestats", "source": "venicestats_public_api; all_vvv_revenue_windows:venicestats_arr_recognition", "notes": "Venice VVV revenue windows use VeniceStats modeled subscription ARR as the sole revenue basis: observed 30d tier mix, current programmatic burns/day, 8% monthly churn, and 12-month retained cohort. Daily/7D/30D fields are recognized ARR equivalents, not new-signup burn flow. VeniceStats revenue surprise is computed from 30 completed daily burn rows; latest completed day 2026-08-27 vs prior 30-day log baseline.", "venicestats_subscription_arr_usd": 109755030.33338222, "venicestats_subscription_mrr_usd": 9146252.527781852, "venicestats_programmatic_burns_per_day": 1622.4285714285713, "venicestats_weighted_avg_sub_value_usd": 23.430236559139786, "venicestats_active_subs_12m": 390361.0834101474 }, { "symbol": "WLFI", "protocol_name": "World Liberty Financial", "crypto_sector": "DeFi", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 4117995393.58, "market_cap_usd": 1866897221.8680954, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 351285, "revenue_7d_usd": 2427185, "revenue_30d_usd": 10398462, "revenue_1y_usd": 119740583, "tvl_7d_pct": 2.900083514330941, "tvl_30d_pct": 0.8160328020111737, "revenue_7d_pct": 2.2434563431195915, "revenue_30d_pct": -1.529676909363069, "price_7d_pct": -4.212657148340879, "revenue_surprise_z": 1.6205396493617088, "tvl_surprise_z": 3.8003688428110673, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE; POSITIVE_FUNDAMENTAL_DIVERGENCE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "World Liberty Financial revenue from DeFiLlama; TVL uses DefiLlama USD1 stablecoin circulating supply per Token Terminal WLFI TVL methodology; market cap from token market data.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "LIT", "protocol_name": "Lighter DEX", "crypto_sector": "Derivatives", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 633203385, "market_cap_usd": 873598410.6674919, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 165672, "revenue_7d_usd": 1376406, "revenue_30d_usd": 2959590, "revenue_1y_usd": 57896670, "tvl_7d_pct": 14.521363882396143, "tvl_30d_pct": 20.583412605108986, "revenue_7d_pct": -30.86831881892951, "revenue_30d_pct": 17.78774715078953, "price_7d_pct": 27.55631401280909, "revenue_surprise_z": 1.0924970820993118, "tvl_surprise_z": 3.5619667488793487, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_STRONG_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Lighter parent slug used for DeFiLlama aggregate revenue and TVL; market cap/price mapped to LIT token.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "PUMP", "protocol_name": "Pump", "crypto_sector": "Launchpad", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 359565975, "market_cap_usd": 1909520905.3532066, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 3272464, "revenue_7d_usd": 16381754, "revenue_30d_usd": 53146689, "revenue_1y_usd": 464689364, "tvl_7d_pct": 21.43432254303265, "tvl_30d_pct": 53.74503508016777, "revenue_7d_pct": 54.18485141316859, "revenue_30d_pct": 125.67581080400781, "price_7d_pct": 16.47950180617287, "revenue_surprise_z": 2.741713138414585, "tvl_surprise_z": 2.6135145381765272, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_STRONG_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Pump parent slug used for DefiLlama TVL and aggregate protocol revenue; mapped to PUMP token market cap.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "JUP", "protocol_name": "Jupiter Aggregator", "crypto_sector": "DEX Aggregator", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 1832549347.79889, "market_cap_usd": 782118580.7502956, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 316817.65, "revenue_7d_usd": 2005698.31, "revenue_30d_usd": 5201781.6400000015, "revenue_1y_usd": 96961693.01000004, "tvl_7d_pct": 9.207783884120518, "tvl_30d_pct": 20.113119576233057, "revenue_7d_pct": 5.749558208100149, "revenue_30d_pct": 112.12708087885352, "price_7d_pct": 16.82271665583514, "revenue_surprise_z": 1.5878958395627354, "tvl_surprise_z": 2.621613250002707, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_STRONG_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Jupiter revenue mapped to JUP; value capture is not assumed direct.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "MET", "protocol_name": "Meteora", "crypto_sector": "Dexs", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 345177447, "market_cap_usd": 116200188.08615352, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 98375, "revenue_7d_usd": 663261, "revenue_30d_usd": 1875993, "revenue_1y_usd": 48932908, "tvl_7d_pct": 13.285457845047919, "tvl_30d_pct": 23.76459863772097, "revenue_7d_pct": 22.639157264850716, "revenue_30d_pct": 105.8571189419938, "price_7d_pct": -0.034891725096152904, "revenue_surprise_z": 1.5836357667877028, "tvl_surprise_z": 2.5793437643619046, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE; POSITIVE_FUNDAMENTAL_DIVERGENCE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Meteora aggregate protocol revenue from DeFiLlama parent meteora; market cap from DexScreener Solana MET token stable quote pair.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "RAY", "protocol_name": "Raydium AMM", "crypto_sector": "Dexs", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 1155018687, "market_cap_usd": 219404036.56154922, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 55655, "revenue_7d_usd": 407082, "revenue_30d_usd": 1295997, "revenue_1y_usd": 21873291, "tvl_7d_pct": 17.55626757267923, "tvl_30d_pct": 42.077469622458715, "revenue_7d_pct": 6.551413857140122, "revenue_30d_pct": 225.8107949888772, "price_7d_pct": 13.658732535912923, "revenue_surprise_z": 0.6941928124300222, "tvl_surprise_z": 2.577840747037095, "data_quality": "OK", "label": "REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Raydium revenue mapped to RAY; fee distribution should be validated separately.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "ENA", "protocol_name": "Ethena USDe", "crypto_sector": "Basis Trading", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 4507167163.02997, "market_cap_usd": 1649632505.740421, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 58.53, "revenue_7d_usd": 3426.71, "revenue_30d_usd": 28677.189999999995, "revenue_1y_usd": 5264046.2200000025, "tvl_7d_pct": 2.671445989830725, "tvl_30d_pct": 9.958137244457156, "revenue_7d_pct": -96.62261973456434, "revenue_30d_pct": -97.86542669584244, "price_7d_pct": 18.810304399062048, "revenue_surprise_z": -0.40855296622104964, "tvl_surprise_z": 2.1612121666375943, "data_quality": "OK", "label": "TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Ethena fundamentals mapped to ENA; token value capture remains unclear.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "MORPHO", "protocol_name": "Morpho Blue", "crypto_sector": "Lending", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 9608779206, "market_cap_usd": 1739432629.2000852, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 601593, "revenue_7d_usd": 5237560, "revenue_30d_usd": 17704579, "revenue_1y_usd": 208998723, "tvl_7d_pct": 7.58168477331706, "tvl_30d_pct": 26.57524507865423, "revenue_7d_pct": 0.2135559734870759, "revenue_30d_pct": 15.24681803204573, "price_7d_pct": 12.737102835803599, "revenue_surprise_z": 0.22868208701792747, "tvl_surprise_z": 2.0364458986226466, "data_quality": "OK", "label": "REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Morpho Blue revenue from DeFiLlama fees endpoint; MORPHO mcap from token market data.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "UNI", "protocol_name": "Uniswap V3", "crypto_sector": "Dexs", "venues": "both", "value_capture_quality": "weak", "tvl_usd": 3434447772, "market_cap_usd": 2877295937.929649, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 426711, "revenue_7d_usd": 2953117, "revenue_30d_usd": 8067226, "revenue_1y_usd": 35704066, "tvl_7d_pct": 10.890420976008379, "tvl_30d_pct": 11.97327751735666, "revenue_7d_pct": -24.255129554648683, "revenue_30d_pct": 0.7524957263342809, "price_7d_pct": 17.75683560206422, "revenue_surprise_z": 1.3112225208467616, "tvl_surprise_z": 2.0275474229751835, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Uniswap fees are mapped to UNI with weak direct value capture unless fee switch economics change.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "AAVE", "protocol_name": "Aave V3", "crypto_sector": "Lending", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 18152242741, "market_cap_usd": 1950097011.5583074, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 151376, "revenue_7d_usd": 1180534, "revenue_30d_usd": 4334011, "revenue_1y_usd": 106627813, "tvl_7d_pct": 6.14902336425511, "tvl_30d_pct": 25.295971897686492, "revenue_7d_pct": 2.88658252282011, "revenue_30d_pct": 14.334916954311652, "price_7d_pct": 11.89875578176087, "revenue_surprise_z": 0.42495017818261943, "tvl_surprise_z": 1.9728115701675801, "data_quality": "OK", "label": "REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Aave protocol fundamentals mapped to AAVE governance token; value capture is indirect.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "LDO", "protocol_name": "Lido", "crypto_sector": "Liquid Staking", "venues": "both", "value_capture_quality": "weak", "tvl_usd": 24012388979, "market_cap_usd": 307216699.89162004, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 99727, "revenue_7d_usd": 699508, "revenue_30d_usd": 2422141, "revenue_1y_usd": 37200137, "tvl_7d_pct": 6.763176073108615, "tvl_30d_pct": 33.924430836815574, "revenue_7d_pct": 3.7547597744439125, "revenue_30d_pct": 35.20105203221171, "price_7d_pct": 1.3932248645844831, "revenue_surprise_z": 1.6474375105459804, "tvl_surprise_z": 1.8912566657093928, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Lido protocol fundamentals mapped to LDO; direct value capture is weak.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "GMX", "protocol_name": "GMX V1 Perps", "crypto_sector": "Derivatives", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 209751765, "market_cap_usd": 81551594.72260928, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 18945, "revenue_7d_usd": 221047, "revenue_30d_usd": 673036, "revenue_1y_usd": 11587428, "tvl_7d_pct": 3.3834401912337517, "tvl_30d_pct": 17.835289179495266, "revenue_7d_pct": -70.61059228692874, "revenue_30d_pct": 61.7709845444454, "price_7d_pct": 9.873279372609934, "revenue_surprise_z": 0.05011104241894186, "tvl_surprise_z": 1.8561732015453423, "data_quality": "OK", "label": "TVL_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "GMX protocol revenue mapped to GMX; staking and distribution mechanics need separate validation.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "HYPE", "protocol_name": "Hyperliquid Bridge", "crypto_sector": "Bridge", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 6661954597, "market_cap_usd": 18584908156.836437, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 2774693, "revenue_7d_usd": 21577111, "revenue_30d_usd": 48809027, "revenue_1y_usd": 720046361, "tvl_7d_pct": 4.305824378367945, "tvl_30d_pct": 8.945372517346373, "revenue_7d_pct": -43.851152463719785, "revenue_30d_pct": 62.38372916430136, "price_7d_pct": 11.869047967265042, "revenue_surprise_z": 1.0929859692564712, "tvl_surprise_z": 1.8546806528357094, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_STRONG_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Hyperliquid protocol data is diagnostic only and does not affect Hyperliquid runtime routing.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "CVX", "protocol_name": "Convex Finance", "crypto_sector": "Yield", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 563086827, "market_cap_usd": 222275058.21674758, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 5863, "revenue_7d_usd": 96931, "revenue_30d_usd": 851686, "revenue_1y_usd": 17964209, "tvl_7d_pct": 6.09716737413207, "tvl_30d_pct": 18.132658371043906, "revenue_7d_pct": -23.12835977448538, "revenue_30d_pct": 4.5470756062767475, "price_7d_pct": 30.575832092586957, "revenue_surprise_z": -0.819122867421973, "tvl_surprise_z": 1.4762986778596847, "data_quality": "OK", "label": "TVL_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Convex revenue mapped to CVX; value linkage depends on staking and lock dynamics.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "CRV", "protocol_name": "Curve DEX", "crypto_sector": "Dexs", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 1340464472, "market_cap_usd": 498475802.19245815, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 8518, "revenue_7d_usd": 131626, "revenue_30d_usd": 509464, "revenue_1y_usd": 30243536, "tvl_7d_pct": 3.2491628907133805, "tvl_30d_pct": 3.9612894574941153, "revenue_7d_pct": -72.0895180051771, "revenue_30d_pct": -24.237303210886772, "price_7d_pct": 0.3177913309498103, "revenue_surprise_z": -1.1791051614690564, "tvl_surprise_z": 1.4053037409654132, "data_quality": "OK", "label": "REV_NEGATIVE_SURPRISE; TVL_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Curve DEX revenue mapped to CRV; veCRV mechanics imply partial linkage.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "CAKE", "protocol_name": "PancakeSwap AMM", "crypto_sector": "Dexs", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 2282402286, "market_cap_usd": 559404061.9202162, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 177280.14, "revenue_7d_usd": 1166650.37, "revenue_30d_usd": 5466775.879999999, "revenue_1y_usd": 89651097.82000001, "tvl_7d_pct": -1.8167877559331667, "tvl_30d_pct": 12.754088148702362, "revenue_7d_pct": -29.41649609398173, "revenue_30d_pct": 124.91876706348405, "price_7d_pct": 2.370818945003815, "revenue_surprise_z": 0.13929847861542774, "tvl_surprise_z": 1.34151578961752, "data_quality": "OK", "label": "TVL_POSITIVE_SURPRISE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "PancakeSwap fundamentals mapped to CAKE; burn and emission mechanics complicate value capture.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "AERO", "protocol_name": "Aerodrome V1", "crypto_sector": "Dexs", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 260119607, "market_cap_usd": 509788550.59973496, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 214231, "revenue_7d_usd": 1798543, "revenue_30d_usd": 4562788, "revenue_1y_usd": 109475059, "tvl_7d_pct": -1.619957381695097, "tvl_30d_pct": -15.128723088501625, "revenue_7d_pct": -34.58895012442178, "revenue_30d_pct": 0.5151712780282734, "price_7d_pct": 7.2403217491636145, "revenue_surprise_z": 0.8974468450920555, "tvl_surprise_z": -0.4824796305134318, "data_quality": "OK", "label": "REV_POSITIVE_CLUSTER; TVL_STRUCTURAL_WEAKNESS; NEGATIVE_FUNDAMENTAL_DIVERGENCE", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Aerodrome revenue mapped to AERO; emissions and ve mechanics make value capture partial.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "SKY", "protocol_name": "Sky Lending", "crypto_sector": "CDP", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": 5617114694, "market_cap_usd": 1606129070.5936792, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 469113, "revenue_7d_usd": 3210502, "revenue_30d_usd": 13705948, "revenue_1y_usd": 221711180, "tvl_7d_pct": -1.862188295594306, "tvl_30d_pct": -1.8533016282905976, "revenue_7d_pct": 5.320904419044797, "revenue_30d_pct": 1.7777527070917016, "price_7d_pct": 4.7059464381879845, "revenue_surprise_z": 0.8944135507273243, "tvl_surprise_z": 0.1750748919396261, "data_quality": "OK", "label": "REV_POSITIVE_CLUSTER", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Sky Lending mapped to SKY; legacy Maker/MKR row intentionally excluded from this dashboard.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "PENDLE", "protocol_name": "Pendle", "crypto_sector": "Yield", "venues": "both", "value_capture_quality": "partial", "tvl_usd": 1178813230, "market_cap_usd": 301429562.6001688, "notes_caveats": null, "data_caveat": null, "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 21691, "revenue_7d_usd": 193531, "revenue_30d_usd": 643564, "revenue_1y_usd": 19430175, "tvl_7d_pct": 1.2394825967825815, "tvl_30d_pct": -2.1856137836746856, "revenue_7d_pct": 49.4694046306505, "revenue_30d_pct": 248.00256698219155, "price_7d_pct": 10.134106564723481, "revenue_surprise_z": 0.6540983401130113, "tvl_surprise_z": -0.26751804191066797, "data_quality": "OK", "label": "REV_STRONG_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "unavailable", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Pendle revenue mapped to PENDLE with partial tokenomics linkage.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null }, { "symbol": "CARDS", "protocol_name": "Collector Crypt", "crypto_sector": "Consumer", "venues": "both", "value_capture_quality": "unclear", "tvl_usd": null, "market_cap_usd": 163172341.62950966, "notes_caveats": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "data_caveat": "TVL not published by DeFiLlama for Collector Crypt.", "value_capture": null, "is_rankable_scenario": null, "is_rankable_runrate": null, "is_rankable_last6m": null, "has_market_cap": null, "has_3m_runrate_revenue": null, "has_last6m_calendar_revenue": null, "revenue_runrate_month_end": null, "revenue_runrate_month_start": null, "revenue_last6m_month_end": null, "revenue_last6m_month_start": null, "revenue_months_available": null, "trend_label": null, "trend_ratio_runrate_to_last6m": null, "scenario_multiple": null, "scenario_revenue_12m_usd": null, "scenario_default_multiplier": null, "multiple_runrate_12m": null, "multiple_last6m_annualized": null, "revenue_runrate_12m_usd": null, "revenue_3m_avg_monthly_usd": null, "revenue_last6m_calendar_usd": null, "revenue_last6m_annualized_usd": null, "revenue_1d_usd": 517746, "revenue_7d_usd": 1923656, "revenue_30d_usd": 11272338, "revenue_1y_usd": 82170367, "tvl_7d_pct": null, "tvl_30d_pct": null, "revenue_7d_pct": 94.52142288213282, "revenue_30d_pct": -24.453147457214104, "price_7d_pct": -12.494973715659006, "revenue_surprise_z": 0.9107981630203595, "tvl_surprise_z": null, "data_quality": "COMPLETE", "label": "NEUTRAL", "market_cap_source": "coingecko_simple_price_free_api", "source_errors": "", "native_source_status": "active", "primary_source": "defillama", "source": "defillama_public_api", "notes": "Collector Crypt fees, protocol revenue, price, market cap, FDV, and volume use the DeFiLlama Collector Crypt (collector-crypt) protocol page and public APIs. DeFiLlama does not publish TVL for this protocol, so TVL remains unavailable and is not treated as a CARDS fundamentals data failure. Holders revenue remains zero until DeFiLlama's buyback-wallet tracking is officially enabled.", "venicestats_subscription_arr_usd": null, "venicestats_subscription_mrr_usd": null, "venicestats_programmatic_burns_per_day": null, "venicestats_weighted_avg_sub_value_usd": null, "venicestats_active_subs_12m": null } ], "sharpMovers": { "strongest_positive_revenue_surprise": { "symbol": "PUMP", "protocol_name": "Pump", "crypto_sector": "Launchpad", "revenue_surprise_z": 2.741713138414585, "tvl_surprise_z": 2.6135145381765272, "tvl_7d_pct": 21.43432254303265, "price_7d_pct": 16.47950180617287, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_STRONG_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE", "notes": "Pump parent slug used for DefiLlama TVL and aggregate protocol revenue; mapped to PUMP token market cap." }, "strongest_negative_revenue_surprise": { "symbol": "CRV", "protocol_name": "Curve DEX", "crypto_sector": "Dexs", "revenue_surprise_z": -1.1791051614690564, "tvl_surprise_z": 1.4053037409654132, "tvl_7d_pct": 3.2491628907133805, "price_7d_pct": 0.3177913309498103, "data_quality": "OK", "label": "REV_NEGATIVE_SURPRISE; TVL_POSITIVE_SURPRISE", "notes": "Curve DEX revenue mapped to CRV; veCRV mechanics imply partial linkage." }, "strongest_tvl_positive_surprise": { "symbol": "WLFI", "protocol_name": "World Liberty Financial", "crypto_sector": "DeFi", "revenue_surprise_z": 1.6205396493617088, "tvl_surprise_z": 3.8003688428110673, "tvl_7d_pct": 2.900083514330941, "price_7d_pct": -4.212657148340879, "data_quality": "OK", "label": "REV_POSITIVE_SURPRISE; REV_POSITIVE_CLUSTER; TVL_POSITIVE_SURPRISE; TVL_STRONG_POSITIVE_SURPRISE; POSITIVE_FUNDAMENTAL_DIVERGENCE", "notes": "World Liberty Financial revenue from DeFiLlama; TVL uses DefiLlama USD1 stablecoin circulating supply per Token Terminal WLFI TVL methodology; market cap from token market data." }, "strongest_tvl_drawdown": { "symbol": "SKY", "protocol_name": "Sky Lending", "crypto_sector": "CDP", "revenue_surprise_z": 0.8944135507273243, "tvl_surprise_z": 0.1750748919396261, "tvl_7d_pct": -1.862188295594306, "price_7d_pct": 4.7059464381879845, "data_quality": "OK", "label": "REV_POSITIVE_CLUSTER", "notes": "Sky Lending mapped to SKY; legacy Maker/MKR row intentionally excluded from this dashboard." } }, "notes": [ "Protocol economics snapshot generated mostly from DeFiLlama public API coverage, CoinGecko token market data, and DexScreener fallbacks where needed.", "VVV revenue is sourced from VeniceStats public metrics/charts APIs using observed 30-day tier mix, current programmatic burns/day, 8% monthly churn, and a 12-month retained-cohort subscription ARR model.", "Value capture quality is shown explicitly; protocol revenue is not treated as direct token-holder cash flow unless the source model supports that interpretation.", "Dashboard-only output: no alert, wallet, scheduler, paper-intent, or trade-eligibility effect." ] } }