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$SEND (@suilendprotocol) kan gjøre en 5x herfra, og den vil fortsatt sitte i den nedre enden av jevnaldrende gruppe
5x => $ 250 millioner FDV
Det er en 25x FDV/Rev multippel
For en protokoll med høy vekst, ville det fortsatt være billig
Komps (FDV/Rev):
EUL: 65x
Aave: 34x
KMNO: 24x

27. juli 2025
Simple inv math for $SEND (Suilend)
Mcap/FDV: $37m/$52m
Annualised Fees & Revs: $28m & 10m
Mcap/FDV-multiples to...
Fees: 1.3x / 1.85x
Revs: 3.7x / 5.2
Cumulative (=realised) Fees of $19m & Revs of $9.6m
=> Signals high income quality. Annualised income not driven by one-off gains
Comps (FDV/Rev):
EUL: 65x
Aave: 34x
KMNO: 24x
What am I missing about $SEND? What's wrong with the valuation?


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