Cryptonary(@cryptonary):A protocol can generate millions in revenue without passing any of it to token holders. Before calling its token undervalued, ask: Who pays the protocol? Who receives the fees? What reaches token holders? Revenue growth doesn’t always mean token value growth.

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Cryptonary@cryptonary

2026.11.08 21:20

A protocol can generate millions in revenue without passing any of it to token holders. Before calling its token undervalued, ask: Who pays the protocol? Who receives the fees? What reaches token holders? Revenue growth doesn’t always mean token value growth.