$S trading at a 752x P/F ratio. A $899M market cap generating only ~$1.2M in annual fees. That's kinda unsustainable imo. For perspective: - Uniswap: ~15x P/F ratio - Aave: ~25x P/F ratio - Compound: ~40x P/F ratio - Sonic Labs: 750x P/F ratio No institution touches anything above 100x P/F ratio. They want: Proven revenue streams Sustainable business models The real question is what this whole 'governance vote' is about. Supposedly to bring in institutions, but how exactly are they gonna do that? Where can i find details on this proposal? HEEEEELPPP