Uniswap (UNI)

If $UNI starts gaining momentum, the V4 hook narrative should be monitored.

Simply put, this new feature allows developers to add code to an LP.

The code enables one or more functions to be executed on each swap (or liquidity addition).

The project @prism_lp in this sector caught my attention; I find it very innovative.

Further reading is provided below for the curious.

The $PRISM token is around a 1M market cap.

Here is my watchlist of tokens in this narrative: https://t.co/rKflHR1M13

Feel free to suggest any others you have in mind that I could add.

I feel like revenue multiple is a much better indicator for determining a project's health.

Revenue multiple = Market Cap ÷ Annual Revenue

It's basically a comparison of what the token is worth today VS. what the protocol earned in the last 12 months.

For example, @worldlibertyfi at 17x means the market is pricing $WLFI at $1.82B while the protocol earned $105M in revenue.

Here are the top 5 protocols by revenue multiple:

1. Uniswap – 37x
2. WLFI – 17x
3. Hyperliquid – 15x
4. Aave – 9x
5. Lighter – 8x

Data from @Grayscale.