🧐 DeFi vs Memes 🐶😹? The most talked about topic of this bull run The DeFi of last cycle are no longer startups It's Time to check out the numbers in Fin Statments and Find out what the meme really is! 🧵 Check ur Bags 👇 (PART 2 / 2)

Pls, Read Part 1 to understand the metrics we will explore in this second part x.com/twindoges/status/1816007...

1/ In this 2nd Part 6️⃣ Derivatives 7️⃣ Other 8️⃣ Layer 1

2/ 6️⃣ Derivatives $GMX @GMX_IO P/F ratio - 2.9× 🔥(4.8× <- 2.7× <- 448×) P/S ratio - 10.6× ✔ (15.8× <- 9.1× <- 899×) FDV - $275.51 M Sustained strong financial performance despite increased competition SIAR - 🟩🟩🟩🟩🟩🟩🟩⬜️⬜️⬜️

3/ $MCB @muxprotocol P/F ratio - 2.5× 🔥(5.2× <- 375.7×) P/S ratio - 4.2× ✔ (9.1× <- 202x) FDV - $30.93 M High earnings for such a MarketCap But high rate of decline in activity after the peak of 2023, worth following this dynamic SIAR - 🟩🟩🟩🟩🟩🟩🟩⬜️⬜️⬜️

4/ $GNS @GainsNetwork_io P/F ratio-18×(9.3×<- 8.5×) P/S ratio-22.6×(12.3×<- 16.9x) FDV - $107.73 M No data for the last quarter, but the previous one showed a strong decline in activity and trading volumes. Need more info on recent trends. SIAR - 🟩🟩🟩🟩🟩🟩🟩⬜️⬜️⬜️

5/ $SNX @synthetix_io P/F ratio - 55 × (29.9× <- 48.9×) P/S ratio - 55 × (29.9× <- 48.9×) FDV - $546.77 M Despite revenue growth, a steady decline in the number of users last quarters Competition is having a strong impact A decent sized treasury SIAR - 🟨🟨🟨🟨🟨🟨⬜️⬜️⬜️⬜️

6/ $dYdX @dYdX P/F ratio - 60.5 × (29.7× <- 22.5×) P/S ratio - 60.5 × (29.7× <- 22.5×) FDV - $1.23 B Highest average return in the past 3 quarters But capitalization is too high relative to competitors and there is no data on active users SIAR - 🟨🟨🟨🟨🟨🟨⬜️⬜️⬜️⬜️

7/ $PERP @perpprotocol P/F ratio - 126.3× (15.8× <- 15.3×) P/S ratio - 686.1× (81× <- 57.2×) FDV - $92.03 M Decrease in all metrics, low earnings from 2022 Increased competition SIAR - 🟥🟥🟥⬜️⬜️⬜️⬜️⬜️⬜️⬜️

8/ 7️⃣ Other Short list of single important projects from 2020-2021

9/ @LidoFinance $LDO P/F ratio - 2.4× (3.6×<- 5.7×<- 141×) P/S ratio - 24.1× (36.5×<-57.2×- 1411×) FDV - $1.52 B High market share Top7 Treasures @defillama Growth in all metrics SIAR - 🟩🟩🟩🟩🟩🟩🟩🟩🟩⬜️

10/ $RARI @rarifoundation P/F ratio - 100.6× (208×<- 109×<- 26×) P/S ratio - 178× (247×<-214×- 35×) FDV - $48.60 M Steady loss of market share every year Drop in all metrics and activity SIAR - 🟥🟥🟥⬜️⬜️⬜️⬜️⬜️⬜️⬜️

12/ 8️⃣ Layer 1 It's hard to estimate income and treasure here But you can look at the numbers relative to competitors and take into account that some projects have made pivot

13/ @0xPolygon $MATIC P/F ratio - 439x (279×<- 455×) P/S ratio - 2388× (551×<-13308x) FDV - $4.96 B

14/ @NEARProtocol $NEAR P/F ratio - 739x (4416×<- 3781×) P/S ratio - 739x (4416×<- 3781×) FDV - $6.33 B Pivoted to Chain Abstraction

15/ $AVAX @avax P/F ratio - 1442x (1188×<- 981×<-18038) P/S ratio - 1442x (1188×<- 981×<-18038) FDV - $12.24 B By metrics - overvalued relative to competitors

16/ $FIL @Filecoin P/F ratio - 1938x (752×<- 718×<-242) P/S ratio - 2003x (788×<- 726×<-242) FDV - $8.24 B Filecoin - still more related to the Storage sector

17/ $FTM @FantomFDN P/F ratio - 1980x (551×<- 349×<-49317) P/S ratio - 6601x (1843×<- 1164) FDV - $1.38 B In search of PMF and a new token for a new chart

18/ $CELO @Celo P/F ratio - 3304x (6862×<- 24235×) P/S ratio - 3304x (6862×<- 24235×) FDV - $538.70 M Performance dynamics are better than Avax's

19/ $DOT @Polkadot P/F ratio - 13732x (19133×<- 21788×) P/S ratio - 17166x (23916×<- 27236×) FDV - $8.25 B No comments

20/ $MINA @minaprotocol P/F ratio - 14294x (38239×<- 37045×) P/S ratio - N/A FDV - $582.95 M

21/ $ICP @dfinity P/F ratio - 25901x (19235×<- 19000×) P/S ratio - 25901x (19235×<- 19000×) FDV - $5.15 B

Lovely Gigabrains who may be interested @rektdiomedes @arndxt_xo @TheDeFISaint @Hercules_Defi @crypthoem @CryptoShiro_ @crypto_linn @Deebs_DeFi @stacy_muur @monosarin @blocmatesdotcom @0xMughal @alpha_pls @DefiIgnas @ahboyash @eli5_defi @DeFiMinty @tombheads

Lovely Gigabrains who may be interested @o_ponle @MoneyCrptBunny @0xSalazar @Stoiiic @cchungccc @0xAndrewMoh @Flowslikeosmo @toffee248 @CryptoGideon_ @jake_pahor @wacy_time1 @ViktorDefi @2lambro @the_smart_ape @poopmandefi @andrewsaunders @kenodnb @thehiddenmaze @zerototom