FDV / Fees
Compares fully diluted value with annualized fees.
Model-implied value method Applies a fee multiple range to protocol fees.
Core inputs
FDVannualized feesfee multiple
Fees may not accrue to tokenholders.
Valuation frameworks for crypto assets
AERO Valuation
Aerodrome inherits the DeFi Primitives model set.
Static methodology preview. Live data pipeline planned. Not investment advice.
AERO DeFi Static methodology preview
Aerodrome
Market cap: data pipeline not connected
Composite model-implied value
$47.4B Valuation gap 3%Model Cards
The asset page uses the model set assigned to its asset class.
FDV / Protocol Revenue
Capitalizes protocol revenue where revenue definitions are sourceable.
Model-implied value method Applies a revenue multiple range to protocol revenue.
Core inputs
protocol revenuerevenue multiplecapture policy
Definitions vary across data vendors.
TVL Efficiency
Relates revenue and usage to capital locked in the protocol.
Model-implied value method Scores revenue per unit of TVL and converts it into a model adjustment.
Core inputs
TVLfeesprotocol revenueutilization
High efficiency can reflect higher risk or incentives.
Utilization Model
Models value through lending, liquidity, or protocol utilization.
Model-implied value method Applies utilization scenarios to revenue capacity.
Core inputs
utilizationspreadsliquidity depth
Utilization should be risk-adjusted.
Tokenholder Capture
Tests whether protocol activity translates into token-level economics.
Model-implied value method Applies a tokenholder capture rate to protocol economics.
Core inputs
protocol revenuecapture rategovernance policy
Weak capture can make strong protocol metrics less relevant.
Treasury / Option Value
Assesses treasury assets and governance option value.
Model-implied value method Adds discounted treasury and option components to operating models.
Core inputs
treasurystrategic optionsgovernance rights
Option value is subjective and should stay scenario-based.
Fundamentals Panel
Current fundamental fields are static methodology categories, not live data.
TVLprotocol revenueutilizationtokenholder capture
Method Rating Panel
Confidence scores are class-level method ratings, not asset guidance.
Scenario Simulator
A local assumption shell for scenario sensitivity.
Scenario sensitivity
DeFi protocol scenario
Model-implied FDV $18.0B
Static methodology preview. Changes here recompute a local scenario number only.
Source Trail
Planned data sources for the valuation architecture.
Static methodology preview. Live data pipeline planned. Not investment advice. The displayed model-implied value is an architecture test for assumption-led valuation.