To establish a sector-specific valuation framework, we must first distinguish the core value drivers of each track. For infrastructure projects (e.g., Layer 1 blockchains, decentralized storage), metrics like TVL/market cap (to assess capital efficiency), node decentralization, and security stability take priority—since their value lies in supporting ecosystems. For application projects (e.g., DeFi apps, Web3 social), user-centric metrics (DAU/MAU, retention rate) and revenue convertibility (transaction fees, subscription income) are more critical. A unified standard (e.g., only focusing on TVL) would misjudge: a Layer 1 with high TVL but poor scalability is overvalued, while a DeFi app with strong user growth but low TVL may be undervalued. Sector-specific benchmarks (e.g., average P/S ratios for DeFi vs. Layer 1) help avoid misassessment.
- 0 replies
- 0 recasts
- 0 reactions
To evaluate the reasonableness of airdrop thresholds like minimum holdings or transaction counts, compare them to the project’s scale and value proposition. A $100 minimum for a small-cap project may be excessive, while $1,000 for a major protocol could be fair. Assess your capacity: do you have idle funds to meet holdings, or can you execute required transactions without incurring high costs? Avoid overextending to 达标，as unmet thresholds waste time.
- 0 replies
- 0 recasts
- 0 reactions
Crypto markets exhibit higher information asymmetry than traditional finance due to lighter regulation, opaque project disclosures, and fragmented data. Unlike equities with mandated filings, crypto relies on voluntary disclosures, making research critical. Mitigating 劣势 involves scrutinizing on-chain data, audit reports, developer activity, and community sentiment. Cross-referencing sources—whitepapers, social channels, and third-party analytics—reduces reliance on biased narratives, empowering informed decisions.
- 0 replies
- 0 recasts
- 0 reactions