How did you derive 10X P/E when P/ Revenue(or fees) is over 13X? Shouldn't P/E more like 23X where, roughly, $1.17b/($80m annualised rev - $30m OPEX). Still cheap among DEFI valuation... Just want to check how your math is derived. Thanks Taiki. You've been on fire lately!
Great article, really enjoy reading it.
How did you derive 10X P/E when P/ Revenue(or fees) is over 13X? Shouldn't P/E more like 23X where, roughly, $1.17b/($80m annualised rev - $30m OPEX). Still cheap among DEFI valuation... Just want to check how your math is derived. Thanks Taiki. You've been on fire lately!