Flying Tulip
Research notes
The revenue growth figure, currently negative 100 percent over the trailing 30 days, is worth monitoring because it indicates whether the sharp recent decline in protocol revenue is a temporary dip or a lasting shift in activity levels. Total value locked, at 12,572,767.08 USD with a 7-day change of positive 6.80 percent, is informative because sustained movement in locked capital tends to reflect changes in user confidence in the protocol's safety and yield mechanics. The dilution overhang of 73.98 percent — representing the share of maximum supply not yet in circulation against a circulating supply that is 57.48 percent of maximum supply — is a structural figure to observe since increases in circulating supply affect the relationship between market capitalization and fully diluted valuation, which currently stand at a ratio of approximately 1.74. The fee growth figure of positive 65.5 percent over the trailing 30 days alongside the simultaneous revenue growth of negative 100 percent is a notable divergence that warrants attention, as understanding whether fees and revenue continue to move in opposite directions would help clarify the protocol's current economic behavior.
Written by an AI language model from the figures listed below, on 25 Sep 2026 09:22 UTC.
