If $IN had launched back in January 2025, it would’ve started at a $1B FDV. The market is less favorable now, but we can still estimate @Infinit_Labs future FDV with a model. So far, Infinit has already onboarded 174K+ users, and that’s before all its core features were live. So it’s reasonable to project a future range of 100K to 1M monthly active users (MAUs). So we can consider 3 scenarios: + 100K MAUs + 500K MAUs + 1M MAUs We can assume: + $100 avg. volume per transaction + 10 transactions per user per month (this is a conservative estimate) Infinit charges fees between 0.2% and 0.5% depending on strategy complexity, so we’ll use an average fee of 0.3%. From this, we can calculate protocol-level revenue. This is total revenue captured by Infinit, not necessarily what's distributed to $IN holders. We don’t yet know the exact percentage of fees that will be shared with $IN holders. To stay conservative, let’s assume 50% of the protocol revenue will go to token holders. (In reality, it may be closer to 100%, but 50% is a safer base case.) In DeFi, it’s common to value tokens based on a multiple of annualized revenue. Early-stage projects usually trade at 10x revenue. More mature or hyped protocols can go up to 30x. Since the AI sector is highly speculative, a 15x multiple seems like a reasonable middle ground. With that in mind, we can estimate the FDV range between $27M and $270M FDV. A mid scenario of 500K MAUs with a 15x multiple gives us a projected FDV of $135M, which seems realistic for launch. Even the most conservative scenario, with cautious estimates at every step, still gives us an FDV of $18M. This worst-case is unlikely but it sets a clear floor. A conservative but realistic scenario would be 500K monthly users and a 15x revenue multiple → $135M FDV. That’s a reasonable expectation for a protocol just launching. Now that you have an estimate of the FDV, you can use this post to calculate the potential reward value for top 1,000 Yappers:

July has flown by with exciting developments in full swing. Projects are blazing trails in both product innovation and promoting. And @campnetworkxyz is right on track with this momentum: + Over 400k TrailHead remixes + Over 14.5m impressions + 1.5m IPs minted Uncover thrilling adventures waiting for Campers:🧵⬇️

The stablecoin market has skyrocketed to $267b , doubling in just a year. Talk about rapid mainstream adoption! With game-changing moves like the GENIUS Act and insights from the USA's Project Crypto, now's the time to let your stablecoins do the heavy lifting as this sector takes off. I've dropped 3 threads on yield-bearing stablecoins, with juicy yields as usual. Missed them? Here's a quick summary of all the stables I covered. You can also use the infographics as a guide. _____________ ✦ @UnitasLabs (sUSDu) ⇒ Mechanism ➝ Protocol fees from Unitas’ multi-strategy delta neutral vaults ⇒ Yield ➝ 19.68% APY ✦ @avantprotocol (savUSD) ⇒ Mechanism ➝ Delta-neutral strategies ⇒ Yield ➝ 18.36% APY ✦ @SmarDex (USDN) ⇒ Mechanism ➝ Ethereum staking and funding rates from traders using USDN protocol ⇒ Yield ➝ 15.9% APY ✦ @aegis_im (YUSD) ⇒ Mechanism ➝ Funding fees from delta-neutral spot and perpetual arbitrage ⇒ Yield ➝ 15.74% APR ✦ @CygnusFi (cgUSD) ⇒ Mechanism ➝ Short-term U.S. Treasury Bills ⇒ Yield ➝ 14.84% APY ✦ @FalconStable (sUSDf) ⇒ Mechanism ➝ Liquidity provisioning, staking, funding rate arbitrage, and cross-exchange price arbitrage ⇒ Yield ➝ 12.6% APY ✦ @HermeticaFi (sUSDh) ⇒ Mechanism ➝ Funding rates on a short Bitcoin perpetual futures position ⇒ Yield ➝ 12% APY ✦ @fraxfinance (sfrxUSD) ⇒ Mechanism ➝ U.S. Treasury Bills and DeFi strategies (staked frxUSD is dynamically allocated to the highest yield source to generate yield) ⇒ Yield ➝ 11.63% APY @0xCoinshift (csUSDL) ⇒ Mechanism ➝ Treasury Bills and on-chain lending ⇒ Yield ➝ 11.32% APY + 5x Shift Points ✦ @Aster_DEX (asUSDF) ⇒ Mechanism ➝ Trading fees and funding rates on short synthetic stablecoin positions ⇒ Yield ➝ 11.3% APY ✦ @lista_dao (lisUSD) ⇒ Mechanism ➝ Liquidation rewards and borrowing interests ⇒ Yield ➝ 11.08% APY ✦ @ethena_labs (sUSDe) ⇒ Mechanism ➝ Delta-neutral hedging and staking rewards on its stETH collateral ⇒ Yield ➝ 11% APY ✦ @reservoir_xyz (srUSD) ⇒ Mechanism ➝ U.S. treasuries, DeFi yield, and market-neutral strategies ⇒ Yield ➝ 11% APY ✦ @parabolfi (paraUSD) ⇒ Mechanism ➝ U.S. Treasury Bills and repo reserves ⇒ Yield ➝ 11% APR ✦ @StablesLabs (sUSDX) ⇒ Mechanism ➝ Delta-neutral hedging and multi-currebcy arbitrage ⇒ Yield ➝ 10.57% APY ✦ @noon_capital (sUSN) ⇒ Mechanism ➝ Delta-neutral strategies ⇒ Yield ➝ 10.44% APY + 5x Noon Points multiplier ✦ @StandX_Official (DUSD) ⇒ Mechanism ➝ Staking and funding rates from perpetual contracts ⇒ Yield ➝ 10.06% APY

the solana market structure is changing monthly at this point and most of the public dashboards are incomplete anyway i pulled the data from the last week and there is a new dominant dark amm here is the data for SOL markets for trades routed through jupiter

We’re deep in a cycle where “new primitives” have become the holy grail. Everyone’s trying to ship the next protocol-level innovation. New chains. New tokens. New systems. But in 2025, the most asymmetric alpha hasn’t come from invention. It’s come from arrangement. The smartest teams aren’t building in isolation. They’re composing. Snapping together primitives with surgical precision to create something greater than the sum. ● This isn’t lazy packaging. It’s technical edge. In a modular world, composability is the innovation surface. The real winners in DeFi, AI x crypto, and even rollup infra this year aren’t those who created something from scratch. They’re the ones who: ✅ Identified a constraint ✅ Found primitives that solved for it ✅ Orchestrated them in a way that felt seamless, native, and sticky

It’s a new chapter for Bitcoin itself. Yield farming built on wrapped BTC isn’t native, isn’t scalable, and completely breaks with Bitcoin’s trust-minimized ethos. Instead of passively splitting inflation, 2% of $BABY emissions will be allocated only to addresses that stake both $BTC and $BABY. Babylon is launching Bitcoin-secured networks (BSNs), enabling a single BTC to secure multiple chains. In return, stakers earn rewards directly from these networks. This is multi-staking, and it’s capped at 25,000 BTC. Only BTC staked before September 1 will be eligible. Your $BABY stake determines your share of that cap. Staking BABY = securing quota. More $BABY. Staked longer = Greater access = More yield. And Babylon is introducing dual-staking incentives: 2% of annual $BABY inflation will go only to users who stake both BTC and BABY. This is how sustainable BTCFi begins: • No mercenary capital • No synthetic wrappers • Just Bitcoin, working natively to secure the future of crypto

Another day, another @SeiNetwork event 🔴 And today, we're mostly focused on Vietnamese traditional food, music, and connection 👀 Can you guess who I've met today? No need, here you go: - @tezukaTez: the legend of Sei. For me, he's like Kratos but chill haha - @ProAboveMe: the brain of @GamingOnSei - @0xAndrewMoh: my man, my broskie, a true Seiyan - @arndxt_xo: Nox, the Macro and sporty man. Always love your content, buddy! - @FabiusDefi: another Sei maxi and it's our first time meeting each other! - @0xgilllee: His content is sick and also his look, handsome man. Btw, the event was so chill, it felt like home. P/S: tysm @EiraNgo and LC Agency for making this such a perfect night 🫡 Markets Move Faster on Sei. ($/acc)

dApps that saw a surge in TVL in July EtherFi - from $6.5b to $10b TVL Lido - from $21.9b to $32b TVL Eigenlayer - from $12b to $17.7b TVL Pendle - from $5b to $6.8b TVL Ethena - from $5.4b to $8.7b TVL Resolv - from $332M to $561M TVL Frax - from $345M to $524M TVL

Why I put @aave in the Bull category: - The largest DeFi protocol With over $58.7b locked, Aave leads all lending markets, accounting for the majority of DeFi’s total borrow/lend liquidity. It represents 31% the total DeFi TVL. - New TVL all-time highs Its metrics continue to grow exponentially, and Aave has already surpassed its 2021 ATH by over 100%. - Aave V4 coming A major upgrade that will introduce unified liquidity, cross-chain asset abstraction, and intent-based execution. - $GHO stablecoin is expanding fast With over $300m in market cap and fast-growing adoption across DeFi, GHO has a chance of becoming a real competitor in the stablecoin arena.

Are you still keeping your BTC idle even when BTCFi season is just around the corner ? Then you have decided to miss out on gains. If not, here’s part 3 of the best yields to farm using $BTC.