The project has been completed, and it is a top exchange, many people have formed a cognitive inertia, feeling that it has reached its peak.

This is indeed the case for many projects, but what I want to talk about today is that @ResolvLabs has shown better "resilience" and "potential" after the TGE.

1️⃣After the TGE, the TVL saw explosive growth, increasing by 50% in half a month, rising from just over 300 million to 530 million.

2️⃣Additionally, the project has activated the fee switch, allocating 10% of the daily protocol profits to the foundation's treasury. This portion of funds will mainly be used to promote protocol adoption + buyback tokens.

Moreover, I calculated that based on the previous data of this project, the annual revenue could reach over 7 million USD.

3️⃣ Meanwhile, the buyback ratio is also impressive, taking 75% of the first income of 226,000, which is 170,000 USD, and this amount is the income for less than a month.

According to the current market value of over 40 million US dollars in circulation, I calculated the approximate repurchase/circulating market value, which allows for a repurchase of 1% of the circulating market value each quarter.

This data is already comparable to the repurchase rhythm of some top exchanges (the quarterly BNB burn is also roughly about 1% of the circulating market value).

However, this 75% buyback ratio is dynamic. If it will reach 100% buyback in the future, it will accelerate token deflation, which would be even more attractive. 😍

4️⃣ Moreover, I derive a calculation for the price-to-earnings ratio: for Web3 projects, revenue is essentially equal to profit. According to the price-to-earnings ratios of conventional listed companies, a basic market value of 15 to 20 times the profit is more reasonable, while this project currently only has around 6 times.

The above is actually interconnected:

TVL growth ➡️ Revenue growth ➡️ Increased buybacks ➡️ Token price growth ➡️ Increased product adoption rate ➡️ TVL continues to rise

Do you think this kind of project has reached the top?

➡️There are also yields, I checked the product: USR annual APR is 8.25%

The annualized APR for RLP is 13.22%. This figure surpasses the returns of most stablecoin projects.

I simply listed a few stablecoin projects and their returns.
In terms of annualized returns, Resolv's overall yield surpasses that of some other top stablecoin projects.

📒In summary: With the progress of the second phase of the event, Resolv's data will continue to reach the next milestone. The threshold of 500 million USD has been crossed, and the next step of 1 billion can be expected.

At the same time, Resolv has been launched on top exchanges + an annualized return of about 10% better than other competitors + a combination of continuously increasing TVL data.

I think Resolv has already formed the prototype of a stablecoin leader, and it just lacks a transformative opportunity, which will gradually become clearer with the arrival of the stablecoin wave.
Of course, with the growth of data, everything should feed back into the token $RESOLV. I went to DeFillama to check, and the basic TVL is about 1.5 to 3 times the market cap, which is a reasonable range.

Currently, the Resolv token has a market capitalization of only 50 million USD, which is less than one-tenth of its TVL. Compared to its current market value, at least doubling is not a problem.

If we benchmark against ENA, there is at least 4 times the space, which means 160 million - 200 million is reasonable.

🤔 My personal guess: Resolv, as a top Delta-neutral stablecoin project, may potentially replicate the situation where ENA was acquired by a listed company as a strategic reserve in the future.