LV7

[LV7 @LV77765]

@IMYourDaddy81 @SunFlowSolana People will be buying at 1b soon 😂

[up. @uponrh]

up is the 5th highest revenue generating DEX in all of crypto on $12m of TVL.

Only up.

[LV7 @LV77765]

@dethpotion @DefiLlama @uponrh up-2:native 100m coming soon

[deth potion @dethpotion]

Ask your KOL why they dont talk about this. You probably wont like the answer.

This is all verifiable on @DefiLlama
The only way is up-2:native @uponrh

[Lyd 💫 @itsluckylyd]

$UP is the most slept on project - yet it's consistently ranking among the top protocols on Robinhood chain (verifiable on DefiLlama)

not only that
- 100% of revenue goes to holders (lockers)
- doxxed founder is a defi OG & knows what he's talking about
- all metrics are up and to the right
- even the physiognomy checks out, nice to see British representation 🇬🇧

liquidity is an essential part of a chain's success and so far everything is lining up for $up to be the dominant player

I also really like how KOLs aren't all over this yet (aka it's not consensus) but it has nice organic traction within the defi community (higher signal)

of course it's still early days, but as long as metrics continue improving this feels like it could be setting up for another PONS type play

current mcap: $17m

[Dirτy Waτer Degen e/acc/dd 🟧 @DirtyWaterDegen]

I agree $pons should partner with $up

[TPvestor @TPvestor]

Some food for thought on $UP @uponrh because I genuinely don’t understand this valuation.

Forget the memes for a second. Let’s compare it to an actual established native liquidity layer:

$AERO on Base

~$500M market cap
~$320M TVL
$12.8B 30d DEX volume
**$4.84M 30d revenue**

$UP on Robinhood Chain

~$13–15M market cap
~$11M TVL
$579M 30d DEX volume
**$1.20M 30d revenue**

Read that again.

Aerodrome is generating roughly 4× UP’s monthly revenue…

Yet $AERO is valued at roughly 30–37× UP’s circulating market cap.

Obviously Aerodrome deserves a significant premium. It has years of history, much deeper liquidity, far more TVL and volume, Base dominance and an established ecosystem.

But does that explain the entire valuation gap?

UP has barely begun.

It’s positioning itself as a native liquidity marketplace on Robinhood Chain, and it is already generating meaningful fees, volume and protocol revenue at only ~$13–15M circulating MC.

And now here’s where it gets even stranger.

On September 4, Binance Alpha 1.0 added three Robinhood Chain tokens at the same time:

$CASHCAT
$UP
$AI (Artificial Inu)

Same ecosystem.
Same Binance Alpha catalyst.

Yet the valuations are in completely different universes.

$AI Artificial Inu: ~$252M MC.

$UP: ~$13–15M MC.

That’s roughly a 17–19× valuation difference.

$CASHCAT has also traded at a valuation many multiples above UP.

And unlike those meme-driven assets, UP is infrastructure actually facilitating liquidity, generating fees and producing protocol revenue.

Then there’s $PONS — another Robinhood Chain project that reached Binance Alpha and has traded in the hundreds of millions in market cap.

So what exactly is the market pricing?

Narrative? Attention? Memes?

Because if we’re talking fundamentals, the discrepancy becomes difficult to ignore.

If Robinhood Chain continues growing, liquidity has to live somewhere. Swaps have to happen somewhere. New assets need markets.

@base has Aerodrome.

What happens if UP becomes that liquidity layer for Robinhood Chain?

That’s the asymmetric part of the thesis that interests me.

To be fair, there are legitimate reasons for UP’s discount.

Its FDV is substantially higher than its circulating MC. Emissions/incentives are aggressive. And the big question is whether today’s volume and revenue remain sustainable once incentives normalize.

Those risks matter.

But even accounting for them:

~$1.2M monthly revenue.
~$579M monthly DEX volume.
~$13–15M circulating MC.
Binance Alpha.
Native exposure to a rapidly growing Robinhood Chain ecosystem.

Meanwhile $AI alone is ~$252M.

At some point you have to ask:

What am I missing?

Is $UP cheap because the market sees a fundamental problem that isn’t obvious in the headline numbers?

Or has capital simply been chasing memes and attention while the infrastructure underneath them has been ignored?

Because if UP can prove that this revenue and activity are sustainable…

this valuation starts looking very, very strange.

$UP

[LV7 @LV77765]

@AltcoinMillie I’m holding up-2:native

[Crypto Mandalorian @CMandolorian]

Use @uponrh when trading on @RobinhoodCrypto

[fleh @cryptofleh]

long $UP

will explain at 100m

[LV7 @LV77765]

@greenytrades up-2:native the stats are too good

[LV7 @LV77765]

@basedsnipez @vladtenev up-2:native

[LV7 @LV77765]

@ripchillpill @KaitoAI @uponrh up-2:native will be hitting new all time highs soon

[Tyler DurdΞth @tylerdurdeth]

Rising TVL
Rising revenues
And now Binance Alpha?

Something is $UP

[LB @lbexplorer]

@0xStross $UP perfect example

[ikaros @0xikaros]

@ryandcrypto $up - it's in the ticker

[Dirτy Waτer Degen e/acc/dd 🟧 @DirtyWaterDegen]

No brainer. If I hadn’t already sold a kidney I’d be buying more $UP right now.

[Billy Bob Bagholder @BillyBobBaghold]

Why $UP Will Keep Going… Up

My first $UP buys were around 9c and despite being up 17x at the peak of this initial pump, I haven’t sold any. In fact I bought more on this dip and I’m continually locking as much as I can from the lock boost I get from my LP positions. Read on for a few of the reasons why:

Revenue

The revenue $UP generates for its holders relative to TVL are orders of magnitude higher than its competitors and anything we’ve seen previously. Per defi llama, UP generates $100k per day in holder revenue on around $10m of TVL, so roughly a 1% ratio. That is insane - we’ve never seen a DEX generate so much on so little TVL. For comparison, see the following holder revenue to TVL percentages:

UNI: 0.0175%
AERO: 0.1%
RAM: 0.17%

So UP generates between 6x - 57x more revenue per dollar of TVL than others. The flywheel then kicks in - since these fees go to token lockers, demand for the token increases, which increases token price and therefore UP rewards to LPs, attracting even more TVL.

The comparison isn’t apples to apples for several reasons, the largest being RAM isn’t emitting yet on RHC and UNI’s have stopped for years. However the figures above certainly help put $UP’s unprecedented revenue generation in context.

Token Supply and Emissions

The context above makes even more sense when you consider despite UP being an emissionsDEX, its circulating supply has barely increased since its launch given its gauge caps and veUP APR (see pinned my tweet for more). Ultimately the team believes the CMC will be deflationary, as it has been in some periods already.

$UP’s revenue is also incredible compared to both its CMC of $13m and CMC plus locked MC of $36m total. In the last 7 days UP generated $600k in holder revenue, annualizing to $31m. Taking the same 7 days $AERO’s revenue annualizes to $83m while trading at a valuation orders of magnitude above $UP’s.

Robinhood Chain Growth

And all these metrics are before we even begin to price in RHC’s future growth. As I’ve always said and is now the consensus, RHC will be bigger than Base. However to be conservative let’s assume RHC only reaches Base’s current TVL, which is very conservative given how I expect both L2s to explode in a bull market.

That’s still a 7x from today. And I expect UP to capture a disproportionate amount of that upside given what I’ve described here and previously.

So there we have it - never before seen revenue and efficiency at a DEX priced this low and on a Blockchain that will get significantly larger.

Oh and did I mention it was just listed on Binance?

[kakarotto @kakarottoswoosh]

Long $up, this is one of the most mispriced coins on Robinhood Chain. Currently trading at a $8.4M market cap with annualized revenue >$30M (0.3xRev).

“What if aerodrome launches on RH?” - yeah certainly a risk but people were saying “what if Pump launches on RH” since Pons was at $20M… and now it’s up over 25x since then

“FDV is too high at $280M” - FDV is a meme, circulating supply has barely increased since launch and should maintain this pace if the protocol is successful