Fun fact:
$PUMP has made more in fees than $HYPE for 8 out of the last 12 months.
So far in January, Pump has generated $94m in fees vs Hyperliquid at $62m
At $1b marketcap vs $9.5b, $PUMP is undervalued imo
Longed $PUMP here.
Thesis:
- Pump reclaimed range low
- Pump avg weekly buybacks rival Hype's while trading at 1/7th the market cap
- In the last month, buybacks have increased steadily each week from 5.9m - 9.6m
gl to me
Notes for table:
- buyback numbers are cumulative for the week
- mcap numbers are avg for the week
- annualized yield: = (weekly buyback x 52) / avg weekly mcap
Annualized yield is the "interest rate" the protocol is paying to token holders via buybacks
Longed $PUMP here.
Thesis:
- Pump reclaimed range low
- Pump avg weekly buybacks rival Hype's while trading at 1/7th the market cap
- In the last month, buybacks have increased steadily each week from 5.9m - 9.6m
gl to me
@izebel_eth I'm a casual trader but my feelings are:
- I prefer HL's UI, just looks nicer imo
- HL currently has more spot + equity assets
- I'm more bullish on future rewards from using HL than Lighter
- I like paying 0 fees on Lighter, but the above 3 points are enough to keep me on HL
@izebel_eth For $HYPE it's very clear that if volumes and revenue go up the token will benefit via clearly defined buybacks - 97%+ of fees.
For $LIT I am less sure why I'd care to own the token.