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VFR (Value-to-Fair Ratio)

Proprietary valuation metric comparing current market cap to calculated fair value.

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Structure

{
  "value": 0.97,
  "zone": "FAIR",
  "fair_mc": 590000000,
  "current_mc": 573000000,
  "interpretation": "Trading near fair value"
}

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Zones

VFR RangeZone
< 0.7UNDERVALUED
0.7 - 1.3FAIR
1.3 - 2.0PREMIUM
> 2.0OVERVALUED

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Calculation

Fair MC = (Comparable_MC x 0.4) + (Revenue_Multiple x 0.4) + (Trust_Premium x 0.2) - Supply_Discount
VFR = Current_MC / Fair_MC

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Financial Evolution (Post-TGE only)

Tracks revenue development over time using data from protocol analytics providers and project disclosures.

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Structure

{
  "quarterly_revenue": [
    {
      "quarter": "Q4 2024",
      "revenue": 11500000,
      "growth_qoq": 35
    },
    {
      "quarter": "Q1 2025",
      "revenue": 15200000,
      "growth_qoq": 32
    }
  ],
  "annual_run_rate": 60800000,
  "revenue_streams": {
    "protocol_fees": 65,
    "transaction_fees": 25,
    "other": 10
  },
  "fee_switch_status": "ACTIVE",
  "token_holder_share": 40
}

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Unit Economics (Post-TGE only)

Protocol sustainability metrics calculated from on-chain and reported data.

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Structure

{
  "revenue_per_user": 48.64,
  "user_acquisition_cost": 85,
  "ltv_to_cac_ratio": 6.8,
  "monthly_burn_rate": 2500000,
  "treasury_runway_months": 36,
  "sustainability_score": 8.2
}