I recently pulled the real income of DeFi protocols
and the conclusion is very clear: most coins
' market value relies on narratives, there are
very few that provide income back to token
holders.
Chainlink earns 75 million annually, holders
get zero. Sky earns 340 million, last month
the buyback was directly cut by 87%. Uniswap
Fee Switch has just opened, income is still climbing.
After looking around, AAVE is the most balanced: P/
E 30 times, which is just a normal valuation in
the US stock market; 16 million hard cap without
issuance increase;
50 million US dollars buyback has already been executed;
GHO stablecoin went from 35 million to 580
million in just a year, and all the interest goes
to the DAO.
If GHO reaches 3 billion in circulation, Aave's total
income will directly double. Based on the same 30
times P/E, the corresponding price is 400+.
Now at 97, investing regularly, targeting 300 or
above for gradual exits.
This personal analysis does not constitute advice. DYOR.
#aave $AAVE